Singapore’s GIC Sells Large Stake in Global Logistic Properties
The Government of Singapore Investment Corporation (GIC) increased liquidity in their portfolio by selling 596.674 million shares of Global Logistic Properties (GLP). This would raise about 1.5 billion SGD.
Global Logistic Properties is a SGX listed company which is majority-owned by the GIC. The property company is the largest owner of industrial properties in Japan and has significant holdings in China and Brazil.
Singapore’s GIC will maintain a 37% stake in Global Logistic Properties, down from 49%.
The real estate company listed on the Singapore Exchange in October 2010 raising around 3.5 billion SGD.
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