Deals
Temasek Pares Alibaba Stake While Adding Rival JD.com
- Investment firm owned 47.5 million Alibaba ADRs at end 2015
- Temasek also increased its stake in Gilead Sciences, BioMarin
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Temasek Holdings Pte pared its holdings in China’s biggest online retailer Alibaba Group Holding Ltd. in the fourth quarter while buying shares of other Chinese online companies, including Alibaba’s biggest competitor, JD.com Inc.
Singapore’s state-owned investment firm sold 548,769 American depositary receipts in Alibaba, leaving it with 47.5 million, according to a filing with the U.S. Securities and Exchange Commission on Tuesday. The value of the holding increased by $1.03 billion to $3.86 billion as the shares gained 38 percent in the period. Among Temasek’s new acquisitions were 6.1 million ADRs in Chinese online retailer JD.com and 8.2 million ADRs in Chinese online travel company Tuniu Corp.