Singapore's SMRT extends losses on Temasek's stake sale
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SINGAPORE - SMRT Corp continued extended yesterday's slide following news that state-linked investment company Temasek Holdings will sell part of its stake in the transport firm at a discounted price, dealers said.
SMRT was down 0.01 sgd or 0.89 pct at 1.12 on top volume of 111.18 mln shares.
Temasek announced it will place 110 mln shares to unidentified institutional investors at a discounted price of 1.11 sgd each. SMRT's shares closed at 1.16 sgd on Tuesday.
The placement shares are equivalent to 7.3 pct of SMRT's outstanding stock.
Temasek said it will raise about 122 mln sgd from the placement exercise. After the sale Temasek said its stake in SMRT will be cut to 54.8 pct from 62. 1 pct.
Stupid Temasek.....Now my portfolio go down some more...
If want to sell, sell at Market Price lah. Why sell below market price? This kind of move by Temasek will harm the value of SMRT shares... -
SMRT is not in good hands. If Temasek wanna sell their stake, better dispose of it entirely to the Connex Group.
Trust me, Connex does a better job in Australia then ComfortDelGro in Singapore. -
You sure?Originally posted by iveco:SMRT is not in good hands. If Temasek wanna sell their stake, better dispose of it entirely to the Connex Group.
Trust me, Connex does a better job in Australia then ComfortDelGro in Singapore.
If they come to SG, it takes them mths to get the pic right, or rather the clearer pic at least
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SMRT may have good revenue coming from their retail side this year...
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Well, it can only cushion the fuel prices hike for nowOriginally posted by shade343:SMRT may have good revenue coming from their retail side this year...
Anyway, because it is 1 year since no new bus svs for add bus revenue