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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Investment

GIC cuts stake in Sinopec Shanghai

Posted on 10 June 2009

From China Knowledge: Government of Singapore Investment Corp (GIC), a global investment management company established in 1981 to manage Singapore’s foreign reserves, has cut its H-share holding in Sinopec Shanghai Petrochemical Co Ltd to 4.8% from the previous 5.02%, according to the bourse operator Hong Kong Exchanges and Clearing.

Information from HKEx showed that GIC on Jun. 2 sold 5.06 million H-shares in Sinopec Shanghai for HK$14.64 million. The average share price of the transaction was HK$2.893 apiece……..Full Article: Source


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