A unit of Temasek Holdings Pte, Singapore’s state-owned investment company, is selling 200 million shares in Thailand’s Shin Corp. in a deal that could raise as much as $261 million, Reuters reported today.
The 6.2 percent stake is being sold at 40.1 baht to 41.60 baht per share, according to the report. The Temasek unit, Cedar Holdings Ltd., has a 44.2 percent stake in Shin and the sale will increase Shin’s free float to 20.4 percent, Reuters said.
Temasek spokesman Jeffrey Fang declined to comment.
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