GIC Sells 8.8% Of Beijing Capital International Airport In $304M Deal

Hong Kong-listed infrastructure conglomerate NWS Holdings Limited says that the company has entered into an agreement to purchase Government of Singapore Investment Corporation’s 8.8% stake in Hong Kong-listed Beijing Capital International Airport Co. (BCIA) for about HK$2.36 billion ($304 million), according to a company statement.

The agreement is made with Elsdon Investment, an affiliate of Government of Singapore Investment Corporation (GIC).

The purchase price is HK$6.5 per share, a 2.07% discount to the stock’s closing price on Tuesday.

GIC bought a stake into BCIA in secondary market transactions and then subscribed 250 million shares for HK$1.86 billion at the end of 2008 when BCIA issued shares at HK$7.45 per share.

After the transaction, NWS will hold approximately 20.38% of the total issued shares in BCIA, becoming the second largest shareholder.

]BCIA is the world’s second busiest airport in terms of passenger throughput exceeding 80 million per annum. It currently operates three terminals and three runways.

China Expert Network
China Expert network