Singaporean state-owned multinational investment firm Temasek, along with its subsidiary, Tembusu Capital, reduced their stakes in SATS (SGX:S58), according to a filing with the Singapore Exchange on Friday.

The decline in stakes came after Fullerton, an independently managed Temasek portfolio company, sold 1,332,100 shares in SATS for $5.3 million via market transaction, the filing said.

Following the share sale, Temasek's stake in SATS has been reduced to 39.96% from 40.05%, while Tembusu's stake has been reduced to 39.94% from 40.03%.

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