Temasek launches block sale of up to 500m SingTel shares
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.