Stock News: Sun Business Network shareholder to sell 86 mln shrs at 0.06 sgd

Magazine publisher Sun Business Network Ltd (SBN) said its major shareholder Sun Media Investments Holding Ltd will sell 86 mln SBN shares at 0.06 sgd each to certain strategic investors as part of the company's rationalization exercise. Following the share sale, Sun Media will cease to be a direct substantial shareholder of SBN and SBN's board will be reconstituted, it said.