Singapore Stock Market News
Singtel - Share sale minor hiccup
StockFanatic
Publish date: Thu, 27 Sep 2012, 10:32 AM
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Temasek selling 400m shares
Temasek Holdings has entered into an agreement to sell 400m shares
in SingTel as part of its portfolio rebalancing. We understand that it
has a upsize option to sell another 100m shares. According to
newswire reports, the share sale was done at S$3.20 each, which is a
3.9% discount to Tuesday's S$3.33 close, and also at the lower end of
the indicative S$3.20-3.25 range. As expected, the news resulted in a
negative knee-jerk reaction, causing SingTel's share price to open
some 5.1% lower at S$3.16.
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