GIC, Temasek poised to reap capital gains bonanza from tech IPO season

Singapore

SINGAPORE'S sovereign wealth fund GIC and state investor Temasek may make some sweet paper gains as tech firms backed by the two investment giants head for the public markets.

Some of the shine is dulled given the fall from grace of Ant Group. Its mammoth initial public offering (IPO) - cancelled last year amid political tension - would have meant a bonanza for the two Singapore investors and other global institutional firms.