Company briefs: Sembcorp Marine; Trendlines Group; Invitae

PHOTO: LIANHE ZAOBAO
Sembcorp MarinePHOTO: LIANHE ZAOBAO

Sembcorp Marine 

Shares of mainboard-listed Sembcorp Marine (Sembmarine) hit a seven-month high amid heavy trading yesterday.

The counter hit an intra-day high of 21.8 cents, before closing up three cents, or 16.2 per cent, at 21.5 cents. The last time Sembmarine shares closed above this level was on Aug 26 last year, when the counter ended at 22.5 cents.

The offshore and marine company was also the most actively traded counter by volume, with 499.8 million shares changing hands.

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Trendlines Group 

The Trendlines Group yesterday announced its proposal to seek a dual primary listing on Israel's Tel Aviv Stock Exchange (TASE).

The medical and agrifood technology investment company also said it plans to raise more capital with a public offering of new securities in conjunction with the listing. According to the company, institutional investor interest is growing in tech companies listed on TASE. As the stock markets in Singapore and Israel attract different investors, Trendlines said the dual listings will provide the company with access to two different equity markets.

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Invitae

Genetic-testing company Invitae plans to raise about US$1.2 billion (S$1.6 billion) from investors including SoftBank Group Corp, with an announcement soon, Dow Jones reported.

The investment will be in the form of convertible debt and is aimed at helping Invitae expand the use of its platform, the publication said.

The San Francisco-based company's shares have tripled in the past 12 months and closed last Thursday at US$39.19 in US trading, pushing its market valuation to US$7.7 billion.

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A version of this article appeared in the print edition of The Straits Times on April 06, 2021, with the headline 'Company briefs '. Subscribe