GIC raises $1.25 billion from GLP sell-down

The Government of Singapore Investment Corp (GIC) has sold about a quarter of its investment in Global Logistic Properties (GLP), raising S$1.55 billion ($1.25 billion). The fully underwritten deal is the biggest equity transaction in a Singapore-listed company since Hutchison-backed HPH Trust raised $5.45 billion from an initial public offering in March 2011.