Temasek Holdings

If Temasek were to build a listed stake of 5% or more, South Korean rules would likely require disclosure within five business days of the trade date.

The deal included about 3.6 billion rupees (US$37.6 million) in primary capital and 1.3 billion rupees (US$13.2 million) in secondary sales.

Zeron, Uzum, Jazz, and more raised funds this week.

The IPO is anticipated to involve only existing shareholders offering between 4% and 4.5% of their stakes.

The IPO could include both new shares and secondary sales by existing shareholders, and may happen as early as next year, according to the sources.

Temasek held US$29 billion in US securities at the end of September, including roughly US$2 billion in US-listed Chinese stocks.

Pillay noted this shift marks a departure from Temasek’s usual focus on absolute returns, as the firm pursues an “active alpha” strategy.

The Singapore state-owned investment firm also announced the four senior executives to take up additional roles in heading these three divisions.

The proposed structure would create units for domestic holdings, overseas investments, and fund management.

Electra plans to use the funds to build a demonstration plant in Colorado later this year.