Singapore's GIC cuts stake in commodities trader Bunge to 1.73%
SINGAPORE (Reuters) - Singapore sovereign wealth fund GIC has cut its stake in commodities trader Bunge to 1.73 per cent from 4.99 per cent a year earlier, according to a United States regulatory filing.
GIC, which had built up its stake in Bunge close to 5 per cent in 2012, cut its holding after Bunge's share price jumped about 13 per cent in 2013.
GIC said in a filing on Thursday it owned 1.73 per cent of Bunge shares, versus 4.99 per cent as of Feb 6 last year, according to a Securities and Exchange Commission filing seen by Reuters.
GIC was not immediately available to comment about why it cut the stake.