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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Temasek sold 7.3 million shares in Alibaba during rally

Posted on 17 February 2015

Temasek Holdings sold shares in Alibaba Group Holding in the fourth quarter as the Chinese Internet firm’s shares rallied following its initial public offering in September. The Singapore investment firm sold 7.3 million American Depositary Receipts (ADR) in Alibaba, leaving it with 10.7 million shares, according to a filing with the US Securities and Exchange Commission (SEC).
The value of Temasek’s holding in Alibaba declined by US$487.5 million (S$660 million), the biggest decrease among the firm’s US-listed holdings. “They must have made about US$300 million through that sale,” said Mr Enrico Soddu, an analyst at Institutional Investor’s Sovereign Wealth Centre in London………………………………………..Full Article: Source


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