LIG Nex1 building (photo = LIG Nex1)

 

[Alpha Biz=(Chicago) Reporter Paul Lee] Singapore's Sovereign Wealth Fund (GIC) bought a stake in local defense company LIG Nex1 in the market and became the third-largest shareholder.

According to the Financial Supervisory Service's electronic disclosure system on November 11, GIC holds a 6.37% stake in LIG Nex1. It is the largest shareholder LIG (42.54%) and the second largest shareholder national pension (13.53%).

GIC has stated that "simple investment" is intended for retention purposes. If the holding ratio is more than 5%, the obligation to disclose is incurred.

Shares of LIG Nex1 rose about 30% this year as GIC bought shares from the 28th of last month.

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