GIC to invest US$85m in Bloomage BioTechnology
[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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise
China 2024 growth outlook raised to 4.8%, deflation risk lingers
Luxury sector outlook clouded by China’s slow recovery
‘We aren’t going anywhere’: TikTok CEO expects to defeat US restrictions