Temasek affiliate part-exits Shin Corp holding
An affiliate of Temasek Holdings has sold 7.9% of its stake in Thai telecom company Shin Corp. Cedar Holdings, which is 49% owned by the Singaporean sovereign wealth fund, raised THB9.126 billion ($305 million) through the sale of 253.3 million shares at THB36 apiece. This represented a 10% discount on Shin Corp’s closing price on Wednesday.
The base offer size was 169 million shares and there was an option, which was exercised, to increase the size by 84.5 million shares, Reuters reported. The shares were apparently well oversubscribed and...
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