GIC sells its stake in Pakuwon Jati

The Singaporean sovereign wealth fund sold its 4.9% shareholding in the Indonesian property company for $90 million.

GIC sells its stake in Pakuwon Jati

The Government of Singapore Investment Corporation, better known as GIC, sold its 4.9% stake in high-flying Indonesian real estate firm Pakuwon Jati for almost $90 million on Monday.

The sovereign wealth fund sold 2.36 billion shares at IDR478 per share, at the bottom end of its targeted range and an 8.1% discount to Friday's closing price of IDR520 per share. 

The secondary share placement was offered at an...

To continue reading, please login or register for free

Click for more on: ubs | placement | block | swf | gic

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...