Formosa 2 Offshore Wind Farm, Miaoli County, Taiwan, in which Sembcorp marine was contracted with Jan De Nul to build 15 jacket foundations. Sembcorp Marine (SGX:S51) has proposed its plans for a S$1.5 billion rights issue to shore up its financial position and accelerate its pivot towards renewable energy on 24 June 2021. It has also signed a memorandum of understanding with Keppel Corp (SGX:BN4) to explore possibility of a merger between itself and Keppel Offshore & Marine. The renounceable rights issue is based on up to 18.83 billion new shares on the basis of three new shares for every two existing shares held, at S$0.08 per share. This works out to a 35.7 per cent discount to the theoretical ex-rights price and a bigger 58.1 per cent discount to the counter's close at S$0.191 on June 23. This rights issue could be completed in 3Q 2021, after a recent S$2.1 billion rights issue in September 2020....