BANGKOK • Units of Singapore's investment company Temasek - Aspen Holdings and Anderton Investments - launched an overnight block trade on Wednesday for 15.6 billion baht (S$702 million) or 8.02 per cent of its stake in Thai telecommunications company Intouch Holdings, Reuters reported, quoting a term sheet.
Intouch owns stakes in Thailand's largest mobile phone network Advanced Info Service (AIS) and satellite operator Thaicom.
The deal, South-east Asia's largest block trade in the year to date, sent Intouch shares down nearly 6 per cent yesterday in Bangkok trading.
The telco's shares, however, gained 27 per cent in the year to date against a benchmark rise of 3.55 per cent. Its stock was priced at 60.75 baht yesterday at a pre-close of 64.5 baht.
Credit Suisse was one of the book-runners, Reuters said.
Former Thai prime minister Thaksin Shinawatra sold InTouch - then named Shin Corp - to Temasek in 2006, sparking public criticism.
Singtel currently owns 21 per cent of InTouch.
According to TeleGeography, a telecommunications market research and consulting firm, InTouch owns 40.45 per cent of AIS, while Singtel has a 23.32 per cent stake.
Temasek has a 41.45 per cent direct stake in InTouch via its wholly owned Thai-registered unit Aspen Holdings.
Temasek also directly owns a controlling stake in Singtel.