Temasek, GIC Buy $1 Billion In Alibaba Stock In SoftBank Sale

Singapore state funds bought $1 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd. as part of an $8.9 billion sale by Japan's SoftBank Group Corp., Alibaba's biggest shareholder, the company said on Wednesday. Singapore sovereign wealth fund GIC Pte Ltd, and state investor Temasek Holdings each purchased $500 million of Alibaba shares at $74.00 apiece through subsidiaries, Alibaba said, offering details of the SoftBank sale announced on Tuesday.

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