Singapore’s sovereign fund GIC has sold a 2.5% stake in Italian payments company Nexi at 5.83 euros each, the ANSA news agency reported on Thursday.
The sale of 28.8 million shares worth just under 168 million euros ($183 million) was carried out through Morgan Stanley, it said.
The books for the deal were opened and closed on Wednesday evening, a source close to the matter told Reuters, without providing further detail.
Nexi shares were down 2.7% by 1050 GMT at 5.91 euros and the worst performers in Italy’s blue-chip index.
It was not immediately clear if GIC, one of the world’s biggest investors, had sold its entire stake in Nexi. It held a stake of 2.58% as of last November, according to Nexi’s website.
The sovereign fund, a long-time Nexi investor, has progressively reduced its stake following a string of M&A deals which in recent years have made Nexi Europe’s biggest payment group.
Source: Reuters.com