GIC sells shares in ConvaTec after share rally

medical_devices_adobe
By Sam Kerr
12 May 2020

GIC, the Singapore sovereign wealth fund, sold 115m shares in medical product and technologies company ConvaTec on Monday night following a huge rally in the stock price.

Goldman Sachs was the sole bookrunner on the £234.6m on the transaction worth around 5% of the company.

The 5.7% stake in the company was sold at a £2.04, a 6.9% discount to the closing price of £2.19 on Monday.

Sources speaking to GlobalCaptial expect more ...

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