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China Education Group Seeks US$ 449 Million in Hong Kong IPO

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China Education Group Holdings Limited has announced it expects to see up to HK$ 3.51 billion (US$ 449.2 million) from an initial public offering (IPO) on the Hong Kong Stock Exchange. The higher education provider has secured cornerstone investments from Singapore’s GIC Private Ltd., the World Bank’s International Finance Corporation (IFC), Value Partners Group Hong Kong Limited, and Greenwoods Asset Management Ltd. totaling US$ 120 million, according to a company statement. The company operates private universities in mainland China – these institutions include Jiangxi University of Technology, Guangdong Baiyun University and Baiyun Technician College. GIC has agreed to subscribe for such number of Offer Shares (rounded down to the nearest whole board lot) which may be purchased for an aggregate amount of US$ 35 million.

The offering will constitute 500 million shares, 10% of which will be offered in Hong Kong, at an indicative price of HK$ 5.86 to HK$ 7.02. The subscription period will run this week from December 5th, through December 8th, with trading expected to begin on December 15.

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Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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