GIC ups stake in Chinese department store Intime
The Government of Singapore Investment Corporation (GIC) has raised its stake in Hong Kong-listed Intime Department Store from 2.44% to 9.08%, buying 134.2 million new and existing shares.
Intime announced that it has sold 76.7 million new shares to GIC for HK$9.9 apiece, totaling HK$747 million ($95.9 million), as well as 57.5 million existing shares from controlling shareholder Shen Guojun,...
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