Templeton reduces Parkway stake to 4.97%

US fund manager sold 357,000 shares as Khazanah and Fortis fight for control of Parkway.

U.S. fund manager Templeton, one of Parkway Holdings' largest institutional shareholders, has cut its stake in the Singapore healthcare firm following a series of sales earlier this month.

Malaysian state investor Khazanah and Indian healthcare giant Fortis, which each own around 25 percent of Parkway, are currently tussling for control of the Singapore firm, as reported in Reuters.

Templeton now owns 4.97 percent of Parkway, down from 5.04 percent previously, after selling about 357,000 shares between July 8 and July 14, Parkway said in a disclosure to the Singapore Exchange.

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