GIC to more than double its stake in Franshion Properties to 6.54%
Singapore
SINGAPORE'S sovereign wealth fund GIC will more than double its stake in Franshion Properties, after the latter placed 1.6 billion shares at HK$2.73 per share as part of efforts to supplement the funding of its expansion and growth plan and broaden its shareholder base.
GIC, through the purchase of more than 425.9 million shares, will more than double its stake in the company, from 3.0 per cent to 6.54 per cent, making it the third-largest shareholder in the company.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won