Bloomberg.com, 25 Nov 2008, Liza Lin
Nov. 25 (Bloomberg) -- Temasek Holdings Pte, the $130 billion group that has almost doubled bank investments since 2004, this week raised its bet on financial companies by agreeing to buy at least $542 million of Standard Chartered Plc shares.
Temasek, owner of a 19 percent stake in Standard Chartered, will take up its share of a 1.8 billion pound ($2.7 billion) rights offer that will shore up the London-based bank’s capital. The Singapore state-owned investment company will underwrite part of the offering, potentially boosting its stake to as much as 22 percent, the bank said yesterday.
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