GIC makes debut equity move with $126.6M Ascletis Pharma deal

GIC crossed the 5% threshold in HK-listed developer, acquiring 64 million shares.

Singapore’s sovereign wealth fund, GIC Private Limited, has acquired a stake in Ascletis Pharma (01672.HK), according to a disclosure of interests filed with the Hong Kong Stock Exchange (HKEX).

GIC purchased 64.13 million shares at HKD 12.18 per share, for a total consideration of approximately $127.6m (HKD 781.08m).

Following the transaction, GIC holds 6.42% of Ascletis Pharma’s outstanding shares.

The acquisition represents GIC’s initial entry into Ascletis Pharma’s shareholder register.

The disclosure was made under Hong Kong’s Securities and Futures Ordinance, which requires investors to report holdings exceeding 5% of a listed company’s shares.

Ascletis Pharma is listed on the Hong Kong Stock Exchange under the ticker 01672 and is engaged in the research, development, and commercialisation of antiviral and oncology therapies.

GIC Private Limited manages Singapore’s foreign reserves and invests across a broad range of asset classes globally.

($1 = HKD 6.13)