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Sovereign Wealth Funds Briefing 17.Dec 2013

Posted on 17 December 2013 by VRS |  Email |Print

Azerbaijan’s state oil fund plans to double the proportion of equities in its investment portfolio and buy real estate in Asia next year, the fund’s executive director told Reuters, as it further diversifies its assets.
The $34 billion fund of increasingly wealthy Azerbaijan holds proceeds from oil contracts, oil and gas sales, transit fees and other revenues, and uses investment proceeds to help pay for social spending and infrastructure projects………………………………………..Full Article: Source

Posted on 17 December 2013 by VRS |  Email |Print

The Italian Strategic Fund (FSI) has acquired 151 (not 191) million euro, 49.5% of the capital of Valvitalia, a company that operates in the production and supply of equipment and components intended for ‘oil industry.
The contract was signed yesterday, 15th December, while the transaction is expected in January 2014. This was announced by the President of the Fund, Giovanni Gorno Tempini, and the CEO Maurizio Tamagnini during a press conference. Majority shareholder remains the Ruggeri family………………………………………..Full Article: Source

Posted on 17 December 2013 by VRS |  Email |Print

Singapore’s sovereign wealth fund GIC has fully subscribed to the first tranche of US$35 million of the Green Dragon Gas (GDG) convertible bond issue. GDG is an independent companies involved in the production and sale of CBM gas in China.
The bond is unsecured with a 7 per cent coupon, and is due in Dec 2015, convertible into ordinary shares at a conversion price of US$6.06 per share. Green Dragon Gas plans to use the net proceeds to launch next year’s drilling plan, and for working capital………………………………………..Full Article: Source

Posted on 17 December 2013 by VRS |  Email |Print

China’s government has completed its purchase of shares in the country’s four biggest banks, marking the end of the latest round of interventions aimed to support its chronically weak stock market.
Central Huijin Investment Co, which holds Beijing’s investments in state-owned financial firms, finished buying shares of Industrial and Commercial Bank of China , China Construction Bank , Agricultural Bank of China , and Bank of China , the four banks said in stock exchange filings on Monday………………………………………..Full Article: Source

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