SINGAPORE (Reuters) - Singapore state investor Temasek Holdings will sell as many as 500 million shares in Singapore Telecommunications Ltd to raise up to $1.34 billion, according to a term sheet seen by IFR late on Tuesday.
The transaction comprises a base size of 400 million SingTel shares at S$3.20 and S$3.25, which works out to around S$1.3 billion ($1.06 billion). It includes an upsize option for another 100 million shares that if exercised will raise the deal size to $1.34 billion.A Temasek spokesman confirmed the sale. Full story
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