K1 plans S$131m distribution after stake sale

Singapore

INVESTMENT holding company K1 Ventures - in which Temasek Holdings owns a deemed stake - has proposed to distribute surplus cash to its shareholders by way of a capital reduction exercise, following the sale of its entire interest in Guggenheim Capital.

Announcing the proposed exercise on Wednesday, K1's board said that the company intends to distribute up to S$0.3035 in cash for each ordinary share held in the company, by a books closure date to be determined by its directors.