Singapore’s Temasek Holds 1% Alibaba Stake, Adds McDonald’s
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Temasek Holdings Pte has amassed a 1.03 percent stake in Alibaba Group Holding Ltd. after the Internet company’s September public share sale, as it seeks to benefit from rising consumption in Asia’s biggest company.
Singapore’s state-owned investment firm, directly or through its units, owned 25.5 million American depositary receipts in the Chinese company valued at $2.26 billion, as of Sept. 30, according to a filing today with the U.S. Securities and Exchange Commission, making it the largest listed shareholder with 1.03 percent. Alibaba rose 0.1 percent to $114.95 at 12:39 p.m. in New York and has surged about 68 percent since its Sept. 19 debut.