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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

GIC seeks S$63.7m from Sunway stake sale: Sources

Posted on 04 October 2013

Sovereign wealth fund GIC is seeking to raise US$51 million (S$63.7 million) by selling part of its stake in Malaysia’s Sunway Berhad, people with knowledge of the matter said. GIC, which currently owns 12.2 per cent in the construction and property firm, will see its stake fall to 8.7 per cent after the sale, one of the sources said.
GIC manages Singapore’s foreign exchange reserves and, according to its website, the fund has a portfolio worth more than US$100 billion………………………………………..Full Article: Source


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