Shin Corp's free-float is increased and Luk Fook raises $175 million

A Temasek entity reduces its stake in Thailand's Shin Corp for the second time in five months through a $254 million sale, while Luk Fook issues new shares to fund its expansion.

<div style="text-align: left;"> Cedar is majority-owned by Singapore's Temasek </div>

Anette Jönsson

January 20, 2012

Grabbing what was widely regarded as the last market window before the Lunar New Year holidays next week, Cedar Holdings on Wednesday evening raised Bt8.08 billion ($254 million) from the sale of a 6.2% stake in Thai telecom holding company Shin Corp.

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