SINGAPORE: Singapore sovereign wealth fund GIC will invest HK$659 million (S$120 million) in Bloomage BioTechnology Corp as it bets on China’s leading medical cosmetic products and services firm.
The investment includes HK$465 million in convertible bonds and HK$194 million in new shares, the Hong Kong-listed company said in a statement.
GIC, which according to the Sovereign Wealth Fund Institute is the world’s 12th biggest sovereign wealth fund with assets estimated at S$344 billion, has said in the past it is keen on investing in technology companies in markets like China and India.
Barclays was the sole placing agent for the deal.
