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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Temasek-led entity sells $305 mln Shin Corp stake

Posted on 19 August 2011

Cedar Holdings, which is 63%-owned by Temasek Holdings, has reduced its stake in Thailand’s Shin Corp through a Bt9.12 billion ($305 million) block trade. The deal was the second sell-down in a Bangkok-listed company this week. It was upsized by 50% and priced above the bottom of the indicated range.

The discount versus the latest close worked out at 10%, which reflected the fact that the stock is very illiquid. The free-float before this deal was just 4% and the offering accounted for about 150 days of trading volume……………………………………….Full Article: Source

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