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China Mobile Games and Entertainment Gets Investment Boost from China’s NCSSF

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China Mobile Games and Entertainment Group Limited, a mobile gaming company, has announced a private placement of American depositary shares (ADS) at US$ 14.50 per ADS. Gross proceeds equated to US$ 16.4 million before deducting related expenses. Investor purchases were carried out by ICBC Credit Suisse Asset Management (International) Company Limited.

Through this entity the investors include:

  • National Council for Social Security Fund – 1,035,000 ADS
  • ICBCCS Global China Opportunity Equity Fund – 88,000 ADS
  • ICBC Credit Suisse Asset Management (International) Company Limited (own behalf) – 10,350 ADS

Established by the State Council of the People’s Republic of China, the National Council for Social Security Fund China is essentially a social security strategic reserve centralized by the Chinese government to meet the needs of their aging population.

Mobile Games and Entertainment Group Limited plans to use the capital to acquire third-party game licenses and intellectual property. The gaming company also wants to invest further in product development and increases sales channels.

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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