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Sovereign Wealth Funds Briefing - Categorized | Performance

GPT discount nets $1bn

Posted on 27 October 2008

From News.com: Property trust GPT Group has sold $1 billion in shares at a hefty 48 per cent discount to their last traded price to repay debt amid falling property values.

GPT, whose chief executive Nic Lyons stepped down this week, is seeking at least $1.3 billion to repay borrowings. Investors bought the GPT shares for 60 each - compared with their last traded price of $1.15 before they were placed in a trading halt on Wednesday.. …. Full Article: Source


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