Temasek sells ICICI stake for $300m, tight discount

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ASIAN EQUITY

Temasek sells ICICI stake for $300m, tight discount

Issue: Daily News - 9 February 2012

Keywords: Temasek, ICICI Bank, India, Allamanda Investments

An arm of Temasek, the Singaporean sovereign wealth fund, raised Rp14.7bn ($299m) from the sale of a stake in ICICI Bank on Tuesday night in India. A competitive bidding process involving most banks in the street pushed the deal to price at just a 1.5% discount to the stock’s closing price, surprising some bankers. ..

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