Temasek and Tembusu reduce their stake in SATS, selling over a million shares

SINGAPORE: Temasek Holdings and its subsidiary Tembusu Capital have reduced their stake in gateway services and food solutions provider SATS Ltd.

This move involved the sale of 1.33 million shares through Fullerton Fund Management, an independently managed entity under the Temasek portfolio.

The share sale generated approximately S$5.32 million. Following the sale, Temasek’s ownership in SATS has been marginally reduced, now standing at 39.96% with 594.96 million shares.

This represents a slight decrease from the prior 40.05% shareholding, which included 596.29 million shares.

Meanwhile, Tembusu Capital’s stake in SATS also saw a small adjustment, with its holdings now at 39.94%, totalling 594.61 million shares.

Both entities remain among SATS’ principal stakeholders following the sale, retaining significant influence over the company’s future direction.

SATS, recognized as a major player in the aviation and food sectors across the region, has seen its shareholder structure subtly realigned with this transaction.

The implications of the sale on SATS’ operational strategy or market performance have yet to be fully assessed.