GIC has been a long-term shareholder in Champion Reit and at one point held just over 9% of the company. This was diluted back to 5.7% when the trust did a large placement of new units to pay for an acquisition in 2008. Champion Reit is sponsored by Hong Kong property developer Great Eagle Holdings and own two office/retail properties in Hong Kong. Full story
GIC disposed over half of its stake in Hong Kong-listed Champion Real Estate Investment Trust
FinanceAsia.com, 14 Jan 2011
Meanwhile, The Government of Singapore Investment Corp (GIC) sold just over half its stake in Hong Kong-listed Champion Real Estate Investment Trust, reaping a total of HK$634.5 million ($82 million) and reducing its holdings to 2.4% from 5.1%. UBS was the sole bookrunner.
GIC has been a long-term shareholder in Champion Reit and at one point held just over 9% of the company. This was diluted back to 5.7% when the trust did a large placement of new units to pay for an acquisition in 2008. Champion Reit is sponsored by Hong Kong property developer Great Eagle Holdings and own two office/retail properties in Hong Kong. Full story
GIC has been a long-term shareholder in Champion Reit and at one point held just over 9% of the company. This was diluted back to 5.7% when the trust did a large placement of new units to pay for an acquisition in 2008. Champion Reit is sponsored by Hong Kong property developer Great Eagle Holdings and own two office/retail properties in Hong Kong. Full story
