Cedar Holdings, an affiliate of Singapore’s state-backed investment group Temasek Holdings, has sold a 6.2% stake in Thai telecoms group Shin Corp for THB8.1 billion (USD254 million). Reuters reports that the deal boosts the percentage of Shin’s shares in free float to 20.4%, complying with the 15% minimum level which had been stipulated by the Thai stock exchange. Around 75% of the shares were sold to Thai investors and the remaining to Thai NVDR Co Ltd.
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OVETEL Singapore group sells 6.2% of Shin, meets stock market free float requirement
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