By Yifan Wang
Sembcorp Industries shares fell Wednesday morning, as investor sentiment took a hit after the energy and urban development company shelved plans to sell its waste-management business.
The stock dropped as much as 6.0% and was last down 3.5% at 5.45 Singapore dollars (US$4.11).
The selloff came after the Singapore-listed company said Tuesday that it terminated the process to divest its waste-management business and its energy-from-waste plant, without offering detailed reasons.
“Sembcorp will continue to review its portfolio to ensure strategic fit and maximize shareholder value,” the company said in a stock exchange filing.
Write to Yifan Wang at [email protected]
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