The Business Times

Companies & Markets

The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

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

Published Thu, Jun 2, 2016 · 09:50 PM
Share this article.

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 fir…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here