Temasek sells stake in US energy company Cheniere after shares jump
Temasek Holdings has sold its stake in United States natural gas importer Cheniere Energy after the value of the shares surged, news agency Bloomberg reported on Thursday.
According to a filing with the US Securities and Exchange Commission, Temasek sold 9.2 million shares of Cheniere directly or through its subsidiaries in the second quarter of this year, valuing the stake at US$257 million (S$325.3 million).
Cheniere's shares had jumped as much as 200 per cent by June 30 after Temasek said in May last year that it would invest about US$468 million in the company together with RRJ Capital, Bloomberg reported.
"The shares had a decent run over the past year," Mr Enrico Soddu, an analyst at the London-based Institutional Investor's Sovereign Wealth Center, told the news agency.