Khazanah, Malaysia’s sovereign wealth fund, reaped more than $1bn from investing in Alibaba ahead of the Chinese e-commerce group’s stock market flotation last year, in a sign of how big Asian investors have cashed in on what remains the world’s biggest initial public offering to date.
The disclosure, made by Khazanah as it reported its financial performance for 2014, came as the fund said it would be ramping up investments in the US tech sector, after opening an office in San Francisco in 2013.
Khazanah on Wednesday said it invested a total of $400m in Alibaba in two tranches in a period over two years ahead of last year’s IPO, which amounted to a stake of 0.6 per cent. It sold some shares after the listing, making a profit of more than $1bn, and retains an undisclosed amount of shares.
“We are still confident that the upside of the stock is there,” said Azman Mokhtar, managing director of Khazanah, the Malay word for “treasure”.
马来西亚邻国新加坡的国家投资公司淡马锡(Temasek)也持有阿里巴巴不明数量的股份。该公司并未披露在阿里巴巴的任何进一步交易。此外，中投公司(China Investment Corporation)也是阿里巴巴的早期投资者之一。
Temasek, the state investment company of neighbouring Singapore, also took an undisclosed stake in Alibaba. It has not disclosed any further dealings in the company. China Investment Corporation was also an early investor in the e-commerce group.