GIC subscribing to UBS rights issue
It declined to give value of investment. -AFP
Fri, Jun 06, 2008
AsiaOne
SINGAPORE - The Government of Singapore Investment Corp. said Friday it would subscribe to a rights issue from embattled Swiss bank UBS, which has written down over 37 billion dollars after the subprime crisis.
'Yes, I can confirm it,' GIC's head of communications, Jennifer Lewis, told AFP, declining to give the value of the investment.