SINGAPORE Jan 10 A unit of Singapore state
investor Temasek Holdings Pte Ltd will raise $687
million through the sale of its 10.3 percent stake in Thai
telecommunications firm Shin Corp, IFR reported.
Cedar Holdings will sell 330 million Shin Corp shares at
63.25 baht each, which would raise 20.87 billion baht ($687
million), IFR reported. Its term sheet, seen by Reuters, had an
indicative price of 62.75 to 63.75 baht per share.
Cedar's stake in Shin Corp will fall to 13.3 percent from
23.6 percent as a result of the sale.
Credit Suisse and Morgan Stanley were joint
bookrunners, IFR said.
($1 = 30.3850 Thai baht)
(Reporting by S. Anuradha; Editing by John O'Callaghan)