Temasek to sell 253.5m shares in Thai firm

The sale could raise up to $316m.

A Reuters report said, “Singapore state investor Temasek is selling 253.5 million shares in Thailand's Shin Corp at between 35.5 and 37.25 Thai baht a share, in a deal that could raise up to 9.44 billion Thai baht ($316 million), IFR Asia reported.”

The Shin Corp stake was originally purchased from the family of Thailand's former prime minister Thaksin Shinawatra in 2006. “After Shinawatra was deposed later that year, Temasek signalled it would reduce its stake in the telecoms firm,” said the report.

View the report here.

UPDATE: Shin Corp has confirmed the report.

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