HONG KONG: Temasek, the Singaporean state investment company, has rejected the chance to acquire a large stake in Rosneft’s US$10.4bil initial public offering after deciding the shares in the Russian state-controlled company were over-valued, the Financial Times reported in its online edition.
Sources close to the company said Temasek was interested in the sale but, like a number of other global institutional investors, decided that the US$7.55-a-share pricing was excessive.
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