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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment, Market

Temasek raises S$843 mln through Shin stake sale

Posted on 11 January 2013

A unit of Temasek Holdings has raised around S$843 million through the sale of a 10.3 per cent stake in Thai telecommunications group Shin Corp, benefiting from a recent rally in the stock. Cedar Holdings, 49 per cent owned by Temasek, sold 330 million Shin shares at 63.25 baht each, raising 20.87 billion baht (S$843 million), IFR reported. The term sheet, seen by Reuters, had an indicative price of 62.75 to 63.75 baht per share.
This was the third time in more than two years Cedar has diluted its holding in Shin, after it sold nearly 8 percent of Shin in August 2011 and another 6.2 percent in January 2012………………………………………..Full Article: Source

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