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Sembcorp’s Joint Venture, Sembcorp Salalah Power & Water Company, Lists on the Muscat Securities Market

October 08, 2013

- IPO was 8.3 times oversubscribed and is Oman’s largest share offer for the year to date

Following its announcement on September 26, 2013, Sembcorp Industries (Sembcorp) is pleased to announce today that its joint venture in Oman, Sembcorp Salalah Power & Water Company (Sembcorp Salalah), has commenced trading of its ordinary shares on the Muscat Securities Market.

The listing follows Sembcorp Salalah’s successful initial public offering in September, which was 8.3 times oversubscribed and raised OMR53 million (approximately S$173 million), making it the largest in Oman this year as well as one of the largest in the region.

Sembcorp Salalah is now 40% owned by Sembcorp’s wholly-owned subsidiary Sembcorp Utilities, 21.9% owned by Oman Investment Corporation (OIC) and 3.1% owned by Bahrain-based BDCC Investment Company (BDCC). Prior to today’s listing, Sembcorp Salalah was 60% owned by Sembcorp Utilities, 35% owned by OIC and 5% owned by BDCC. Following Sembcorp's change in shareholding in Sembcorp Salalah, Sembcorp Salalah will now be equity accounted for as an associate of the Group.

- END -

For analysts and media queries, please contact:

Ng Lay San (Ms) 
Vice President 
Group Corporate Relations 
DID: +65 6723 3150 
Email: [email protected]

Aleve Co (Ms) 
Senior Manager 
Group Corporate Relations 
DID: +65 6723 3178 
Email: [email protected]


Sembcorp Industries is a leading energy, water and marine group operating across six continents worldwide. With facilities of over 5,900 megawatts of gross power capacity and over seven million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to both industrial and municipal customers. It is also a world leader in marine and offshore engineering as well as an established brand name in urban development.

The Group has total assets of more than S$13 billion and employs over 9,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index and several MSCI and FTSE indices.

Note to Editors:
Please refer to the company as “Sembcorp” (with “S” in upper case and “c” in lower case), or “Sembcorp Industries” in full. Please also note that “Sembcorp” is not an abbreviation of “Sembawang Corporation” but a brand name in itself, and it is therefore incorrect to refer to our company as “Sembawang”, “Sembawang Corporation” or similar.