Looks like you are right about Singapore; It has emerged that the Singapore Government increased its stake in childcare operator ABC Learning, at the same time the company's directors were shedding stock.
Four directors of ABC Learning, including co-founders Eddy Groves and his wife Le Neve Groves were forced to relinquish $45 million worth of the company's shares on Tuesday, as the share price crashed.
But Singapore sovereign wealth fund Temasek has now informed the ASX that on the same day it bought another 8 million shares in the company for $2.14 each, which is the price the shares closed that day, before being suspended from trade.
Temasek's total stake in the company now stands at 14.66 per cent.
ABC Learning's shares have remained suspended from trade today, as the company discusses the sale of parts of its business.
Analysts are speculating that its UK or US childcare centres are up for grabs.
Dave R.
ABC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
