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DBS sells 900,000 StarHub shares for $2.45m

Singapore Business Review
DBS sells 900,000 StarHub shares for $2.45m

The shares were sold after it was announced the CEO would step down.

DBS sold 900,000 of its shares in StarHub for $2.45m on 13 November.

According to an announcement, this cut Temasek Holdings' (Temasek) interest in StarHub from 56.02% to 55.97%.

DBS is an associated company of Temasek, albeit it is an independently managed company.

Temasek said it was not aware of the change in its deemed interest in shares until DBS reported the transaction.

The shares were disposed of after StarHub announced that its CEO Tan Tong Hai will step down from his position. The telco will conduct a global search for their next CEO.



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