Temasek Cuts Stake But Still ‘Significantly Invested’ In Alibaba Group Holding Ltd


Alibaba stocks still form a major part of Temasek Holdings Pte’s portfolio, said the Singapore state-owned firm, which pared its stake in the Chinese firm after its stock rallied in the third quarter. In the three months through September, Alibaba shares gained 33%.

Still a major part of Temasek’s portfolio

At the end of September, Temasek sold 14.5 million American Depository Receipts, after which it was left with 39.6 million ADRs valued at $4.2 billion, as stated in a filing made with the U.S. Securities and Exchange Commission (SEC) on Monday. An earlier filing revealed that in the June quarter, Temasek added 6.5 million ADRs in the company.

In an e-mailed statement to Bloomberg, Stephen Forshaw, a spokesman for Temasek, said, “These changes reflect the reporting of normal portfolio rebalancing we undertake from time to time, and are mainly related to more liquid stocks, holdings of which may vary with market movements. We remain significantly invested in Alibaba as an important holding in our portfolio.”

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Temasek was one of the early investors in Alibaba, the major Chinese online shopping giant founded by Jack Ma. The Singapore state-owned firm still holds Alibaba’s stock, which forms the eighth-largest holding in the fund’s portfolio, according to data compiled by Bloomberg.

Tiger Global Management invests in Alibaba

Temasek’s holdings were battered by last year’s market disorder, following which it saw the first decline in its portfolio in seven years. The firm’s annual review revealed that in the fiscal year that ended March 31, the value of its assets fell 9% to $242 billion.

Temasek also made investments in Dell Technologies, and as of September 30, it owned 1.6 million shares valued at $75 million, as per the filing. The filing also states that Temasek made an investment in biopharmaceutical company AC Immune SA and in Internet travel agency International Ltd. It even bought 408,543 ADRs in Royal Dutch Shell Plc.

Tiger Global Management also made some huge investments in several companies in the September quarter, according to a SEC filing it made on November 14. It bought 2.6 million Class A shares in Comcast, 7.3 million sponsored ADRS in Vipshop Holdings Ltd., and a stake of 5.4 million sponsored ADRs in Alibaba, the filing says.

On Monday, Alibaba shares closed down 3.46% at $89.77. Year to date, the stock is up more than 10%, while in the last year, it is up more than  18%. The stock has a 52-week high of $109.87 and a 52-week low of $59.25.

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