Temasek Holdings to sell its 1.85% stake in SIA

Temasek Holdings, the state investor in Singapore Airlines (SIA) is planning to sell around $295 million shares or 1.85% stake in SIA, Reuters report. Temasek had a direct and deemed interest in approximately 55.42% of the issued shares excluding 6,967,078 treasury shares owned by the company, thus reducing its shareholding to 53.57% as per its letter to the shareholders. Citi Bank is the sole book-runner for the share sale. Speaking to Reuters, Juliet Teo, Head of Transportation and Logistics, Temasek Holdings said: “The divestment formed part of Temasek’s active investment approach, aiming to rebalance and reshape its portfolio for sustainable