SINGAPORE: The Government of Singapore Investment Corp (GIC) has raised US$1.25 billion by selling about 596 million shares in warehouse operator Global Logistic Properties (GLP).
GIC sold the shares at S$2.60 each, which is a 4.8 per cent discount to Monday's closing price.
Following the share sale, it now holds a 37 per cent stake in GLP, down from 49 per cent.
GIC said the move is part of the fund's portfolio rebalancing and it will remain a substantial shareholder for the long run.
- CNA/ms
GIC raises US$1.25b by selling shares in Global Logistic Properties
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GIC raises US$1.25b by selling shares in Global Logistic Properties
