TEMASEK, Singapore’s largest sovereign wealth fund, is considering lending its support to Prudential’s $21bn (£13.9bn) rights issue as a cornerstone investor, City A.M. understands.The $120bn (£79.4bn) government investment vehicle is one of several Asian institutions looking with interest at the terms of the rights issue published this morning. The exact price and timing of the cash call will be important to Temasek, market sources said, as will Prudential’s future growth forecasts.
t is understood Temasek could either buy shares when they list in Singapore and take up its rights, wait to buy rights traded in the market or take “rump” rights should any unwanted options be left with the deal’s 30 underwriters. Full Story
