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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Global Logistic to raise S$404 mln to fund Brazil expansion

Posted on 15 November 2012

Global Logistic Properties Ltd. (GLP), the world’s second-biggest owner of industrial properties, plans to raise S$404 million ($330 million) from the sale of new shares to fund its investment in Brazilian warehouses.
The unit of Singapore’s sovereign wealth fund will sell 160 million new shares at S$2.59 each, GLP, as the company is known, said in a statement to the Singapore exchange today. The price is a 4.8 percent discount to its last close of S$2.72 on Nov. 12. GLP will buy the Brazil properties for 2.9 billion real ($1.4 billion) with its Singapore parent, Canada Pension Plan Investment Board and China Investment Corp………………………………………..Full Article: Source


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