GIC invests HK$659m in Bloomage in bet on Botox

Singapore

GIC Pte's private-equity unit has invested HK$659 million (S$119 million) in Hong-Kong listed Bloomage BioTechnology Corporation Ltd, as it taps into China's growing medical cosmetics market.

The investment consists of HK$465 million convertible bonds and HK$194 million new shares at a subscription price of HK$12 each, Singapore's GIC and Bloomage said in a joint statement on Thursday. Bloomage shares surged 8.2 per cent to HK$15 in Hong Kong at 2:55pm.