See Why Singapore’s Sovereign Fund Had a Busy Week
The Singapore sovereign wealth fund GIC Private Limited is involved in investing directly all across the world. Starting in Australia, the sovereign fund redeemed exchangeable securities in Australia-based The GPT Group, a diversified listed property group, for A$ 325 million, plus a non-underwritten A$ 50 million security acquisition plan.
Selling Shares of Luye Pharma
On January 15th, GIC unloaded shares of Luye Pharma Group Ltd., a Chinese pharmaceutical company that somewhat recently went public in Hong Kong. The GIC, CDH Capital and New Horizon together sold 86.2 million shares at HK$ 9 per share. GIC and CDH Capital each sold 17.5% interests in Luye Pharma, while New Horizon sold a 15% stake. All shareholders still have significant ownership interests in Luye Pharma.
Betting on India’s Mini Finance Sector
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