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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Market

Singapore’s GIC says converts UBS notes into shares

Posted on 05 March 2010

From Reuters: The Government of Singapore Investment Corp (GIC) said on Friday it has converted its UBS notes into ordinary shares, chalking up a loss of about 70 percent in the value of the stake it has in the Swiss bank.
“GIC confirms the conversion,” a spokeswoman for the Singapore sovereign wealth fund said in response to Reuters’ queries……………………………………..Full Article: Source

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