Temasek continues to maintain majority stake
Singapore Airlines announced in May record annual profit
Shares have jumped almost 36 yeartodate

HONG KONGSINGAPORE, June 28 Reuters Singapore39;s state investor Temasek is selling around S400 million 295.92 million worth of shares, or a 1.85 stake, in the country39;s national carrier Singapore Airlines SIA, according to a term sheet seen by Reuters on Wednesday.

The shares are priced between S7.202 and S7.283 per share, the sheet shows, representing a 2.89 and 3.97 discount to the last close of S7.50 on Wednesday.

Temasek will continue to be a major shareholder in SIA with a 53.5 stake, according to Reuters39; calculations.

Citi is the sole bookrunner on the share sale, the term sheet showed.

Citi declined to comment.

As an active investor, we regularly reshape and rebalance our portfolio to deliver sustainable returns over the long term, Juliet Teo, Temasek39;s Head of Transportation Logistics, said in an emailed statement in response to Reuters query on Wednesday.

We are committed to the longterm success of SIA and continue to maintain a majority stake in it, she added.

SIA announced last month a recordhigh profit of S2.16 billion for the year ended March 31, after posting losses for the past three years, and said it was off to a strong start with higher bookings to China, Japan and South Korea as pandemic curbs ended globally.

Shares of SIA have jumped almost 36 so far this year.

1 1.3517 Singapore dollars…