Long-term shareholder sells $262 million of stock in Comfortdelgro

The sale comes after strong share price gains for the Singapore-listed bus and taxi operator that have been supported by several small acquisitions.
<div style="text-align: left;">
Comfortdelgro is one of the world’s biggest transport companies with operations in seven countries
</div>
<div style="text-align: left;"> Comfortdelgro is one of the world’s biggest transport companies with operations in seven countries </div>

A long-term shareholder in Comfortdelgro, the Singapore-listed bus and taxi operator, last night raised S$3329.8 million $262 million from a block trade.

The seller was the Singapore Labour Foundation, a state-owned entity that was set up in 1977 to help develop the trade union movement in Singapore and improve the welfare of union members. It derives its funding from a combination of membership fees and returns on investment and has owned shares in Comfortdelgro since 2003.

The sale comes after a strong run in the share price since early November, which has intensified in the past month on the back of a couple of small acquisitions and...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222