SINGAPORE, May 17 (Xinhua): GIC, Singapore's sovereign wealth fund, announced Friday that it will invest 3.7 billion pesos (US$84 million) into a Philippine hospital group, in order to facilitate the latter's further expansion.
GIC, through its affiliates, will get a 14.4 per cent stake in Neptune Stroika Holdings Inc.(NSHI), a wholly-owned subsidiary of the Philippine conglomerate Metro Pacific Investments Corporation. The NSHI will be the holding company for all of its parent company 's hospital investments.
The sovereign wealth fund also subscribed 6.5 billion pesos ($149 million) exchangeable bonds which could be exchanged into a 25.5 per cent stake in NSHI in the future, allowing it to raise its stake in NSHI to nearly 40 per cent.
S\\\'pore GIC invests $84m in Philippine hospital group
FE Team | Published: May 18, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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