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Sovereign Wealth Funds Briefing - Categorized | Investment

SWFs to invest in SouthGobi

Posted on 11 January 2010

From Businessweek.com: SouthGobi Energy Resources Ltd may raise as much as C$459 million ($446.6 million) in a Hong Kong share sale. China Investment Corp., the nation’s sovereign wealth fund, and Temasek Holdings Pte, the Singapore government-owned investment company, have each agreed to buy $50 million worth of shares, sources say.

SouthGobi is raising capital to finance exploration, expand, and build production plants and infrastructure as it aims to increase output and supply customers in China. The company plans to sell 27 million new shares, or a 16.8 percent stake, an e- mail sent to fund managers on Jan. 4 said…………………………………..Full Article: Source


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