GIC sells stake in GLP at a discount to raise US1.25 billion

Fox Business, 25 Feb 2013
GIC is selling 595.674 million shares at S$2.6-S$2.66 each , representing a discount of 2.6%-4.8% to Monday's closing price of S$2.75, the term sheet said.
GIC will hold a 37% stake in GLP, down from 49%, following the share sale and will remain as a substantial shareholder for the long run, a person familiar with the transaction said, adding the move is part of the fund's portfolio rebalancing. Full story

Related:

1. Global Logistic Shares Drop on GIC Stake Sale - Bloomberg
2. GIC Says It Remains ‘Substantial’ Long-Term Shareholder in GLP - Bloomberg
3. GIC sells GLP shares to raise USD1.25 billion - The Asset