Far EasTone block trade

Parent raises $170 million from sale of Far EasTone shares

The Far EasTone block trade comes a couple of months after SingTel sold its entire stake in the Taiwan mobile operator and is priced at a 3.3% discount.

For the second time in less than two months, a block of shares in Taiwan’s Far EasTone Telecommunications changed hands last night. This time it was two entities wholly owned by the controlling shareholder who took the opportunity to take some profit after the stock continued to gain last month in the wake of the earlier exit by Singapore Telecommunications SingTel.

The sellers raised a total of NT$5.1 billion $170 million by offloading a combined 2.5% stake in the mobile operator. Sources said the company knew that there was quite a lot of excess demand for the SingTel placement at the end of April and...

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