Deals
Temasek Cut Stake in Alibaba in Third Quarter, Filing Shows
- Singapore state-owned investment firm sold 14.5 million ADRs
- Emerged as shareholder in software maker Dell Technologies
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Temasek Holdings Pte pared its investment in Alibaba Group Holding Ltd. in the third quarter, as shares of China’s biggest online retailer rallied, while emerging as a shareholder of software maker Dell Technologies Inc.
The Singapore state-owned firm sold 14.5 million American depositary receipts, leaving it with 39.6 million at the end of September, worth $4.2 billion, according to a filing with the U.S. Securities and Exchange Commission on Monday. Alibaba gained 33 percent in the three months through September. Temasek had added 6.5 million ADRs in the company in the June quarter, according to an earlier filing.