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Singapore’s GIC Keen on Royal Mail

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Royal_MailReports are being issued that one of the major institutional investors interested in the initial public offering of Britain’s Royal Mail is the Government of Singapore Investment Corporation (GIC) now known as GIC Private Limited. Other keen sovereign wealth fund investors include the Kuwait Investment Authority (through the Kuwait Investment Office) and the Abu Dhabi Investment Authority.

The UK government still plans to hold around a 30% – 49.9% stake in the national mail carrier and also plans on issuing a 10% stake to its over 150,000 employees.

Offers are currently being made to institutional and retail investors. The UK government expects roughly 70% of allocations will be made to institutional investors including public pensions and sovereign wealth funds.

Royal Mail has enjoyed a successful turnaround story under the leadership of CEO Moya Greene. According to reports, the 497-year-old postal service doubled its operating profit to £430 million this past year versus the year prior.

Additionally, it appears an attractive purchase by yield-hungry investors as the UK government has posted a possible dividend yield of between 6.1% and 7.7%.

The purchase, if carried out, would represent a continuance in the trend among the GIC in investing in listed UK equities. The Sovereign Wealth Fund Transaction Database has recorded a significant number of transactions by the GIC in UK equity.

QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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