Temasek reduces share in SMRT

Temasek reduces share in SMRT

SINGAPORE: State-linked investment company Temasek Holdings
said on Wednesday it had reduced its shareholdings in Singapore's
leading transport operator SMRT Corp. Ltd. from 62.1 to 54.8
percent.

Temasek raised S$122 million (US$73 million) from the
placement late on Tuesday of 110 million ordinary shares of SMRT
to institutional investors at S$1.11 each, lower than the
closing price of S$1.16.

"This placement will improve the liquidity of SMRT stock and
widen the stocks investor base, benefiting all SMRT investors," a
Temasek press statement said.

SMRT operates train, bus and taxi services, and is currently
expanding the city-state's rail network.

SMRT shares opened lower on Wednesday after the discounted
share placement.-- AFP