Temasek Holdings Divests 1.85% Stake in Singapore Airlines: Report
Portfolio Pulse from Nabaparna Bhattacharya
Singapore's state investor Temasek Holdings is planning to divest a 1.85% stake in Singapore Airlines Ltd. (OTC:SINGY) for around $296 million. The shares are priced between S$7.202 and S$7.283 per share, representing a 3% and 4% discount to the last close. Temasek will remain a major shareholder in Singapore Airlines with a 53.5% stake.
June 28, 2023 | 2:38 pm
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Temasek Holdings' divestment of a 1.85% stake in Singapore Airlines could lead to a short-term decrease in the company's stock price.
The divestment of a significant stake by a major shareholder often leads to a decrease in the stock price in the short term due to the increased supply of shares in the market. However, Temasek's continued majority stake in the company indicates long-term confidence in the company's prospects.
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