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'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.

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