Temasek unit in $380 mln selldown of Shin Corp -IFR
WRITTEN BY THOMSON REUTERS
THURSDAY, 18 AUGUST 2011 08:02
A unit of Singapore state investor Temasek (TEM.UL) is selling an almost 8% stake in Thai telecoms firm Shin Corp (INTUCH.BK) for as much as $380 million, in an attempt to increase the free float of the company, IFR Asia reported.
Cedar Holdings, majority owned by Temasek, is selling 253.5 million shares of Shin Corp at between 35.5 and 37.25 Thai baht each, in a deal that could raise 9.44 billion Thai baht ($380 million), IFR reported.
The price range reflects a discount of 6.9-11.3% to Shin Corp’s closing share price of 40 baht on Wednesday.
It is a significant discount from the 49.25 baht a share that Temasek-linked units paid in 2006 to purchase a controlling stake in Shin Corp from the family of Thailand’s former prime minister, Thaksin Shinawatra.....
http://www.theedgesingapore.com/the-daily-edge/business/32017-temasek-unit-in-380-mln-selldown-of-shin-corp-ifr.html
WRITTEN BY THOMSON REUTERS
THURSDAY, 18 AUGUST 2011 08:02
A unit of Singapore state investor Temasek (TEM.UL) is selling an almost 8% stake in Thai telecoms firm Shin Corp (INTUCH.BK) for as much as $380 million, in an attempt to increase the free float of the company, IFR Asia reported.
Cedar Holdings, majority owned by Temasek, is selling 253.5 million shares of Shin Corp at between 35.5 and 37.25 Thai baht each, in a deal that could raise 9.44 billion Thai baht ($380 million), IFR reported.
The price range reflects a discount of 6.9-11.3% to Shin Corp’s closing share price of 40 baht on Wednesday.
It is a significant discount from the 49.25 baht a share that Temasek-linked units paid in 2006 to purchase a controlling stake in Shin Corp from the family of Thailand’s former prime minister, Thaksin Shinawatra.....
http://www.theedgesingapore.com/the-daily-edge/business/32017-temasek-unit-in-380-mln-selldown-of-shin-corp-ifr.html
