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GIC to invest US$85m in Bloomage BioTechnology

Thursday, November 5, 2015 - 08:25
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Singapore sovereign wealth fund GIC will invest HK$659 million (S$119.34 million) in Bloomage BioTechnology Corp as it bets on China's leading medical cosmetic products and services firm.

[SINGAPORE] Singapore sovereign wealth fund GIC will invest HK$659 million (S$119.34 million) in Bloomage BioTechnology Corp as it bets on China's leading medical cosmetic products and services firm.

The investment includes HK$465 million in convertible bonds and HK$194 million in new shares, the Hong Kong-listed company said in a statement.

GIC, which according to the Sovereign Wealth Fund Institute is the world's twelfth biggest sovereign wealth fund with assets estimated at S$344 billion, has said in the past it is keen on investing in technology companies in markets like China and India.

Barclays was the sole placing agent for the deal.

REUTERS