You are here

GIC to sell up to 2.4% stake in UBS

Monday, May 15, 2017 - 23:26

[ZURICH] Singapore's sovereign wealth fund GIC plans to sell a UBS stake of up to 2.4 per cent, the Swiss bank said on Monday.

GIC intends to sell up to 93 million existing shares in UBS Group, equivalent to 2.4 per cent of the outstanding shares and voting rights, through an accelerated bookbuild offering to institutional investors, UBS said.

UBS shares fell more than 1 per cent after the news before paring losses to 0.7 per cent.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom