Quarter of Singtel special discounted shares sold ahead of CPF Board transfer
Around 27% of all SDS holders have sold their stakes
Around 27% of Singtel special discounted share holders have already sold their stakes, keeping on track the planned transfer to their Central Depository (CDP) accounts by November 21st, according to Singtel and the Central Provident Fund (CPF) Board. As of August 31st, 180 million shares have been sold in total, with 163,000 shares sold by 163,000 shareholders, representing 27% of all share holders.
More than 60% of those who chose to sell did not have an individual CDP account prior to the transaction. Over 117,000 walk-in enquiries and transactions have been processed across 36 SingPost branches, with average waiting time at these branches improving from 3.5 minutes to 2 minutes. The dedicated SDS hotline has handled over 15,000 calls, with an average of 120 calls daily.
Agency for Integrated Care conducted house visits to more than 11,000 older shareholders to assist them. Shareholders who wish to retain their SDS shares do not need to take any action as they will automatically move into individual CDP accounts on November 21st.
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