About 1 in 4 holders of Singtel discounted shares have sold their shares ahead of CDP transfer

Ahead of the planned transfer of Singtel’s Special Discounted Shares (SDS) from the Central Provident Fund (CPF) Board to holders’ Central Depository (CDP) accounts on Nov 21, about one in four holders have sold their shares.Singtel and the CPF Board said in a joint update issued on Thursday (Sept 17) that about 180 million, or 25 per cent, of all Singtel SDS shares had been sold as at Aug 31. Around 163,000 of the approximately 615,000 SDS holders, or about a quarter, have sold their shares. Of these, more than 60 per cent did not have an individual CDP account.Support efforts for SDS holdersSince the transfer was announced in April, more than 117,000 walk-in enquiries and transactions have been processed at 36 SingPost branches. In addition, the Singtel SDS hotline has received over 15,000 calls.The Agency for Integrated Care (AIC) has also conducted more than 11,000 home visits to older SDS holders who may not be digitally savvy. The CPF board and telecommunications operator also stated that the planned transfer is on track.