Weekly investors roundup: Singapore's GIC buys Australian student dormitories for $411 million; China's Sunshine Insurance looking at blockbuster listing in Hong Kong
Singapore sovereign wealth fund GIC takes up 49.9% stake in Wee Hur’s student housing portfolio in Australia; China's Sunshine Insurance reportedly looking to list on HKEX in potentially the largest IPO of the year; New China Insurance issues a warning that its first-quarter profit might decline 70%; and Temasek sends stern warning on corporate governance to portfolio companies; and more
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Singapore’s sovereign wealth fund GIC has bought a half share of an Australian student housing portfolio from Wee Hur for A$568m (411 million) through its affiliate Reco Weather Private.
The listed Singaporean developer Wee Hur said Reco is buying the 49.9% stake in the Wee Hur PBSA Master Trust which held the student housing assets. Wee Hur will retain the remaining 50.1% stake. The company said the valuation of the transaction was 2.8 times the current va…
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