Singapore state-investment firm Temasek is reportedly seeking to raise up to US$1.34bn by selling shares in Singapore Telecommunications (Singtel).
Temasek plans to sell 400 million shares, and has an option to upsize this by a 100 million more if…
Singapore state-investment firm Temasek is reportedly seeking to raise up to US$1.34bn by selling shares in Singapore Telecommunications (Singtel).
Temasek plans to sell 400 million shares, and has an option to upsize this by a 100 million more if demand is strong, reported Dow Jones citing a term sheet.
Citigroup and Morgan Stanley are bookrunners on the transaction, added the report, which claimed the shares were being sold in the range of S$3.2-S$3.25 (US$2.61-US$2.65) each.
Temasek was unable to comment before the press deadline.
Earlier this year, reports suggested Temasek subsidiary Cedar Holdings planned to sell a further 200 million shares in Thailand-based telecom conglomerate Shin Corp, after selling 253.5 million shares in August 2011, when it raised around Bt9.1bn (US$305m).
Credit Suisse was reportedly the sole bookrunner on Cedar Holdings’ latest Shin Corp sell down, while Siam Commercial Bank was reported to be acting as co-manager.
