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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

NewQuest, GIC partially exited stake of IKang in its $153mln IPO

Posted on 10 April 2014

Beijing-based private medical services provider iKang Guobin Healthcare Group has raised $153 million by offering 10.9 million shares at $14 per share on the NASDAQ. NewQuest Capital Partners and Singapore’s GIC Private Ltd. has partially exited from iKang.
At the same time, Best Investment Corporation, a subsidiary of China’s sovereign wealth fund China Investment Corporation, is to pay $40 million for a stake of about 4.6% of iKang at $13.00 per share, according to a previous filing. Last April, GIC Private and Goldman Sachs jointly committed $100 million to iKang. Goldman Sachs is not selling in the IPO, but its stake will be diluted from 13% to 10.8%………………………………………..Full Article: Source


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