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Temasek launches block sale of up to 500m SingTel shares

Published on Sep 26, 2012 6:00 AM
 
Temasek Holdings has launched a block sale of up to 500 million SingTel shares. The last time it announced a stake sale in the region's largest telco was back in 2006. -- ST PHOTO: ALPHONSUS CHERN

Temasek Holdings has launched a block sale of up to 500 million SingTel shares. The last time it announced a stake sale in the region's largest telco was back in 2006.

The sale could raise as much as $1.625 billion for the Singapore investment firm, reported IFR Asia, a financial news provider.

Temasek is offering to sell 400 million shares with an option to increase this to as much as 500 million.

It has priced the stock at between $3.20 and $3.25 - a discount of up to 3.9 per cent on Tuesday's $3.33 closing price.

 
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