Singapore government divests Sunway stake

GIC offers investors attractive discount after short sellers push stock below its daily volume weighted average price shortly before the close.

Singapore government divests Sunway stake

Singapore's GIC raised M$482 million $144.7 million after divesting its remaining 8.7% stake in Malaysian construction and property group Sunway Berhad on Tuesday. The Singapore government-controlled group offloaded 150.66 million shares after placing out both a 125 million share base deal and a 25.66 million share upsize option.

Under the lead of CIMB and JP Morgan, the accelerated block trade was priced at M$3.20, according to a termsheet seen by FinanceAsia...

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