19.09.2011 - GIC should disclose details of UBS position
The Government of Singapore Investment Corporation (GIC) became the largest shareholder in UBS last year when it converted notes it bought in the bank into ordinary shares at a conversion price of 47.7 Swiss francs (S$67.6) a share. UBS shares closed at 9.75 Swiss francs the day the loss was announced. Given GIC's original 11-billion Swiss franc investment in 2008 and the 2 billion Swiss francs it received in interest in the first two years, its paper loss was about 6 billion to 7 billion Swiss francs at Thursday's price..............................................Full Article: Source
Print