SINGAPORE (Oct 4): SIA Engineering Company (SIAEC) triggered a trading query by Singapore Exchange (SGX) shortly after market open on Wednesday, after its share price fell 9% to a low of $3.15 – its lowest level since December 2009.

The slump came on reports JPMorgan was seeking to sell its entire stake in SIAEC.

According to Bloomberg, JPMorgan could raise as much as $128 million by selling 38.9 million shares at $3.11–$3.30 each, representing a 4.6–10.1% discount to SIAEC’s share price at Tuesday’s close.

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