Temasek trims Celltrion stake in $1bn block duo

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By Jonathan Breen
08 Mar 2018

Temasek Holdings made a splash in the block market this week, raising W1.07tr ($1bn) with a pair of overnight trades in South Korean pharmaceutical company Celltrion and its distribution arm Celltrion Healthcare — an approach that was in line with the Singapore sovereign wealth fund’s strategy to rebalance its portfolio. Jonathan Breen reports.

Temasek, through subsidiary Ion Investments, surprised the market on Tuesday, putting 2.24m shares in Celltrion and 2.9m in Celltrion Healthcare for sale in an accelerated block deal.

“The trade was not on people’s radar,” said an ECM banker in Hong Kong. “It came right out of the ...

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