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GIC sells 4.5% Citi stake
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niuyear
Supreme |
30-Nov-2009 15:53
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Once bitten , twice shy. Long term investment (especially in US companies) is not in GIC's card any more. They better sell now rather than be sorry later on. In veiw of the depareciating US$ value, they are not making much , arent they?
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teeth53
Supreme |
28-Nov-2009 08:45
Yells: "don't learn through life, learn to grow with life " |
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http://www.guardian.co.uk/business/2009/nov/26/double-dip-recession-dubai-debt Fears of double-dip recession grow as Dubai crashesDebt crisis in millionaires' playground could herald new phase in global financial meltdown FTSE 100 index of leading shares dropped more than 170 points – wiping £44bn off their value. The market turmoil – which saw jittery investors retreat to the traditional safe havens of bonds, the Swiss franc and the US dollar – followed news that the government-owned conglomerate Dubai World had asked its creditors for a six-month debt moratorium. http://www.standardchartered.com/media-centre/business-and-strategy/recent-deals/en/index.html Standard Chartered (one time a major owner by, have not mention about investing in Dubai world
HSBC also have significant loan books in ... HSBC has $17bn invested in UAE, Standard Chartered has $7.8bn, Barclays has $3.6bn and has. ...
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teeth53
Supreme |
28-Nov-2009 07:36
Yells: "don't learn through life, learn to grow with life " |
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http://money.cnn.com/2009/11/27/news/companies/Dubai_bank_risks/index.htm Dubai's threat to U.S. banksAlthough there's little direct exposure to Dubai World's default risk, U.S. financial institutions could take major indirect hits.New York-based Citigroup (C, Fortune 500) has the most exposure to default risk at Dubai World, which a J.P. Morgan (JPM, Fortune 500) equity research note estimated at $1.9 billion. Citigroup declined to comment. |
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keepnosecrets
Master |
26-Sep-2009 14:46
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Good move for us who buy Citi as retail players. When the giants start to give away some bread, we can be hopeful to get some crumbs. Hehehe.
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eric69
Member |
26-Sep-2009 12:03
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how much does GIC bought the "preferred shares"? Is the conversion of "preferred share" to "ordinary share" at the same par value? anyone please enlighten? | ||||
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Hulumas
Supreme |
22-Sep-2009 18:13
Yells: "INVEST but not TRADE please!" |
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Selling CITI............. Good move. I suppose.
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shplayer
Elite |
22-Sep-2009 17:51
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So much for Loong term investment. They are buying/selling like traders. Next thing you know, they will be shorting like nicky. 
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nickyng
Supreme |
22-Sep-2009 17:46
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SINGAPORE - The Government of Singapore Investment Corp (GIC) said on Tuesday it has cut its stake in Citigroup to below 5 per cent through open market sales. GIC held more than 9 per cent of Citi on Sept 11, when it converted its preference shares in the U.S. bank to ordinary shares at $3.25 per share. 'A stake below 5 per cent reflects GIC's goals and desire to be a portfolio investor,' the Singapore sovereign wealth fund said in a statement. |
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