Temasek sells shares in COSCO, third sale of China shares in a week
Singapore’s state-linked investment firm Temasek Holdings said Thursday it has sold 80 million shares in container shipping firm China COSCO Holdings, international news outlets reported.
It was Temasek’s third sale of shares in a Chinese company over the past week and 'part of our ongoing rebalancing of the portfolio against new opportunities,” Temasek said in a statement. Earlier, Temasek sold shares in the Bank of China and China Construction Bank.
Temasek also holds a 66-percent stake in NOL/APL, 100 percent of the Port of Singapore Authority, a majority ownership of Singapore Airlines, and has a portfolio of about $100 billion.