Singapore Airlines Drops Most in Over a Year After Block Sale
- Proportion of analysts with sell rating has climbed to 39%
- Block trade suggests stock is trading at a premium, DBS says
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Singapore Airlines Ltd. slumped the most in more than a year after a block of shares amounting to nearly 3% of the float traded Friday.
Singapore state-owned investment firm Temasek Holdings Pte had earlier offered to sell the same number of shares, according to terms of the deal seen by Bloomberg on Wednesday. The carrier closed down 4.7% at S$7.15, the largest decline since February 2022. The slide trims this year’s gain to 29%, from as much as 46% when it reached its intraday high for the year of S$8.05 two weeks ago.