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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Singapore wealth fund GIC cuts GLP stake in US$1.25bln sale

Posted on 26 February 2013

Singapore sovereign wealth fund GIC cut its stake in warehouse operator Global Logistic Properties (GLP) by about a quarter, selling around 596 million GLP shares at S$2.60 each, according to a term sheet seen by Reuters.
The sale, which raised about $1.25 billion, was at the bottom of a S$2.60-$2.66 per share indicative range. GLP closed at S$2.75 on Monday. The Government of Singapore Investment Corp (GIC) said in a statement on Tuesday that the sale was part of the sovereign fund’s “regular rebalancing activities for its overall portfolio” and that it remained a substantial long-term shareholder………………………………………..Full Article: Source


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