Singtel Raises $773 Million Selling 2.8% Gulf Development Stake (opens original article in a new tab)

Singtel raised S$1 billion by selling a 2.8% stake in Gulf Development Pcl, generating S$140 million in gains, with funds allocated for dividends, share buybacks, and digital infrastructure investments.

• Singtel sold 2.8% stake in Gulf Development Pcl for S$1 billion
• The sale generated S$140 million in gains for Singtel
• Funds will be used for dividends, share buybacks, and digital infrastructure