Temasek, GIC buy US$1b of Alibaba shares
They will each pay US$500m at US$74 a share in sale by Japan's SoftBank Group
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Singapore
SINGAPORE's state-owned investment firms Temasek Holdings Pte Ltd and GIC Pte Ltd, long-term Alibaba Group Holding Inc investors, have bought a combined US$1 billion of stock in the Chinese e-commerce behemoth, the second-biggest stakes being sold by SoftBank Group Corp.
The purchases add to the technology holdings of both investment firms. Temasek and GIC were early investors in Alibaba and hold major stakes in technology firms benefiting from the economic growth of the world's second-biggest economy. Japan's SoftBank is selling shares of China's biggest online retailer for the first time in 16 years.
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