Shares of Global Logistic Properties fell to a three-month low after Singapore sovereign wealth fund GIC cut its stake in the warehouse operator in a $1.25 billion sale.
GIC sold 596 million GLP shares at S$2.60 each, at the bottom of a S$2.60-$2.66 per share indicative range, according to a term sheet seen by Reuters.
GLP shares sunk as much as 7.3 percent to S$2.55 on Tuesday, the lowest since late November last year. More than 617 million shares were traded, 54 times the average full-day volume over the past 30 days. Full story
