Chinese fund CIC offloads stake in Singapore’s SIIC

SIIC facility visual from the company website

China’s sovereign wealth fund China Investment Corp (CIC) has offloaded its entire holdings in Singapore-listed water treatment company SIIC Environment Holdings Ltd for about $74.4 million in a block share trade, IFR, a Thomson Reuters publication, reported.

The report said that CIC had had sold 660 million shares, equivalent to just under a seven per cent equity holding in the Singapore-listed firm, at a price that was around eight per cent lower than SIIC’s closing share price, Thursday. CIC had priced its exit at the bottom of the S$ 0.149 and S$0.0153 range.  SIIC’s shares fell 9.9  per cent, Friday, to close at S$0.146.

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