SINGAPORE (May 30): TEE International is extending the completion date for the sale of a 28% stake in subsidiary TEE Land to Top Capital Securities by about two months.

On May 10, TEE International had announced that it would sell 100.5 million shares in TEE Land -- or a 28% stake -- at 18.6 cents each in cash or totalling nearly $18.7 million.

Completion of the sale was initially expected on May 15.

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