Temasek sells most of Seoul Semiconductor stake

Temasek has sold most of its stake in Seoul Semiconductor in an accelerated block trade worth $174.7 million, according to a term sheet.

Ion Investment, a portfolio company under the Singaporean investment fund, held 6.9 million shares in the Korean semiconductor company since 2009 but put 4.1 million shares up in a block trade at an initial price range of 45,000 won to 45,950 won $42-$42.89, a 2.1% - 0% discount to the last closing price of 45,950 won.

The final offer priced at 45,600 won early Tuesday, a 0.8% discount to the last closing price on March 3. After the sale, Seoul Semiconductor shares jumped...