Satya sells part of Singapore Petroleum stake through the market

Placement upsized to $248 million after solid demand, but priced at wide end of discount range.

One of Singapore PetroleumÆs largest investors has sold more than half its stake in the company through a $248 million block trade that was upsized due to solid demand.

Given the relative rarity of large follow-on share sales in this market, investors were said to have embraced the chance to buy shares in a Singapore bluechip in bulk. The transaction, which was arranged by Merrill Lynch, accounted for about 40 days worth of trading volume.

The seller was Indonesian investment...

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