November 5, 2015 / 12:21 AM / in 3 years

Singapore GIC to invest $85 mln in Bloomage BioTechnology

SINGAPORE, Nov 5 (Reuters) - Singapore sovereign wealth fund GIC will invest HK$659 million ($85.03 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 twelfth 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.

$1 = 7.7500 Hong Kong dollars Reporting by Saeed Azhar; Editing by Stephen Coates

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