A unit of Singapore Temasek Holdings is selling 200 million shares, or a stake of 6.2%, in Thailand’s Shin Corp Pcl in a deal that could raise as much US$261 million ($334 million), IFR reported today, according to Reuters.
The indicated price range is 40.10 ($1.6)-41.60 Thai baht, a discount of as much as 7.8% to the Thai company’s closing share price, IFR said.
Credit Suisse is the sole bookrunner and Siam Commercial Bank is the co-manager, IFR said.
Temasek’s unit, Cedar Holdings, has a 44.2% stake in Shin Corp, whose float will increase to 20.4% after the deal is completed, IFR said.
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