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SembCorp gains on Cosco share sale



By Upstream staff 

Singaporean rig builder SembCorp Marine has made a one-off gain of about S$25.7 million (US$16.5 million) from a sale of 30 million shares of Cosco Corporation at S$2 per share.

The proceeds will be included in the company’s results for the financial year ended 31 December 2006.

The company still holds 150.4 million shares in the Chinese shipyard outfit, which represent 6.8% of Cosco’s capital.


Thursday, 16 November, 2006, 01:16 GMT  | last updated: Thursday, 16 November, 2006, 01:26 GMT

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