Temasek sells stake in US energy company Cheniere after shares jump

Temasek Holdings logo at the office at The Atrium@Orchard. 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. -- ST FILE PHOTO: K
Temasek Holdings logo at the office at The Atrium@Orchard. 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. -- ST FILE PHOTO: KUA CHEE SIONG

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.

"Temasek just seized the opportunity to make a solid profit."

Mr Tan Yong Meng, a Temasek spokesman, confirmed Temasek's filing but declined to comment further.

Temasek had bought 15.5 million shares in Cheniere during the second quarter of 2012 for US$228 million, Bloomberg said, citing previous SEC filings. The company increased its holdings to 18.3 million shares in the third quarter of last year and halved its position during the first quarter this year.

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