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Sovereign Wealth Funds Briefing 19.Oct 2010

Posted on 19 October 2010 by VRS |  Email |Print

From Bloomberg: China Investment Corp. and the country’s pension fund invested in the initial public offering of Global Logistic Properties Ltd. in Singapore, the China Business News reported today.
China’s Social Security Fund took a 2.2 percent stake in Global Logistic through Bosera Asset Management Co., the report said, citing a prospectus posted to the Monetary Authority of Singapore’s website. The newspaper didn’t say how much CIC invested in the Singapore company or where it got the information……………………………………….Full Article: Source

Posted on 19 October 2010 by VRS |  Email |Print

From Todayonline.com: Parliament yesterday passed a Bill to amend the Income Tax Act which includes introducing a new tax incentive for sovereign funds. The Ministry of Finance said this is to attract sovereign wealth funds to Singapore and help make the cluster of sovereign funds as a niche class.
Under the incentive, income from sovereign funds and their investment offices will enjoy tax exemption for five years from April 1 this year, said Finance Minister Tharman Shanmugaratnam……………………………………….Full Article: Source

Posted on 19 October 2010 by VRS |  Email |Print

From WSJ: Shares of Global Logistic Properties Ltd., a real estate unit of the Government of Singapore Corp., made a robust debut on the Singapore Exchange Monday, rising 10.7% above their initial public offer price.
At the close of the session, GLP shares closed at 2.17 Singapore dollars ($1.66) apiece compared to the IPO price of S$1.96. The Straits Times Index ended the session 0.7% lower……………………………………….Full Article: Source

Posted on 19 October 2010 by VRS |  Email |Print

From Nytimes.com: Global Logistic Properties, a logistics unit of the sovereign wealth fund Government of Singapore Investment Corporation, surged as much as 12 percent on its debut on Monday in the ninth-biggest public offering in Asia this year, attracting investors as a result of its China exposure, Reuters reports.
Global Logistic Properties is set to raise 3.9 billion Singapore dollars ($3.01 billion) if it exercises its greenshoe option, making it Singapore’s second biggest initial offering since the 4 billion dollar offering of Singapore Telecommunication in 1993……………………………………….Full Article: Source

Posted on 19 October 2010 by VRS |  Email |Print

From Impactpub.com.au: Singapore’s biggest investment arm, Temasek Holdings, may be about to invest in selected SriLankan Airlines’ business divisions, although possibly not the airline itself.
Maintenance, repair and overhaul specialist Singapore Technologies Aerospace (ST Aerospace) and Singapore Airlines Terminal Services (SATS), Singapore’s provider of gateway services and food solutions were involved in talks last week……………………………………….Full Article: Source

Posted on 19 October 2010 by VRS |  Email |Print

From Globaltimes.cn: Sovereign wealth fund China Investment Corp (CIC) and Ping An Insurance Co of China are among big Chinese institutional investors eyeing significant stakes in AIA Group.
AIA, the Asian life insurance unit of bailed out insurer American International Group, will be listed in Hong Kong through an initial public offering to raise up to $20.5 billion……………………………………….Full Article: Source

Posted on 19 October 2010 by VRS |  Email |Print

From Businessweek.com: Qatar’s sovereign wealth fund says it has acquired a 5 percent stake in Banco Santander’s Brazilian arm, extending its bet on financial firms overseas.
Qatar Holding said Monday it bought the stake by purchasing $2.7 billion worth of exchangeable bonds issued by the Spanish banking giant……………………………………….Full Article: Source

Posted on 19 October 2010 by VRS |  Email |Print

From Globalarabnetwork.com: In September, officials of Mumtalakat said that the sovereign wealth fund was planning to launch an initial public offering (IPO) for a part stake in Aluminium Bahrain (Alba), with the proceeds of the sale to be used by the fund for other investments.
Currently, Mumtalakat holds 77% of Alba’s shares, with the balance owned by Saudi Basic Industries……………………………………….Full Article: Source

Posted on 19 October 2010 by VRS |  Email |Print

From Zawya.com: Arab sovereign wealth funds seeking to maximize their returns in a still-shaky global economy need to examine opportunities at home and in their own back yards, not only in the West, an industry veteran told a gathering of top regional private equity leaders in Abu Dhabi today.
“The simple fact is that regional investors including sovereign wealth funds are spending too much time focusing on developed markets and not enough on far more lucrative long-term opportunities closer to home,” said Citadel Capital Chairman and Founder Ahmed Heikal in a keynote address to SuperReturn Abu Dhabi……………………………………….Full Article: Source

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