Singapore GIC says cuts stake in Citigroup to below 5 pct

Reuters, 22 Sep 2009
SINGAPORE, Sept 22 (Reuters) - The Government of Singapore Investment Corp (GIC) said on Tuesday it has cut its stake in Citigroup (C.N) to below 5 percent through open market sales.
GIC held more than 9 percent of Citi on Sept 11, when it converted its preference shares in the U.S. bank to ordinary shares at $3.25 per share.
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