Temasek reduces its Alibaba stake
Update Date：2016-2-18 9:57:40 Source：BeiJing Tannet Views：988
Temasek Holdings Pte pared its holdings in China's biggest online retailer Alibaba Group Holding Ltd in the fourth quarter while buying shares in other Chinese online companies, including Alibaba's biggest competitor, JD.com Inc.
Singapore's state-owned investment firm sold 548,769 American depositary receipts in Alibaba, leaving it with 47.5 million, according to a filing with the United States Securities and Exchange Commission on Tuesday.
The value of the holding increased by $1.03 billion to $3.86 billion as the shares gained 38 percent in the period.
Among Temasek's new acquisitions were 6.1 million ADRs in Chinese online retailer JD.com and 8.2 million ADRs in Chinese online travel company Tuniu Corp.
The adjustments reflect a broadening of Temasek's bet on China's technology sector and industries servicing a growing middle class.
Temasek first invested in Alibaba in the fiscal year ended March 2011, buying S$50 million ($36 million) of the company's China registered shares.
"Over the last two quarters, JD's growth momentum outpaced that of Alibaba," said Henry Guo, a San Francisco-based analyst at Summit Research Partners LLC.
The article transsshipment from China Daily
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