Reuters: Temasek takes 5.5 pct stake in Ivanhoe Mines

Singapore state investor Temasek Holdings has taken a 5.5 percent stake in Canada’s Ivanhoe Mines valued at $426 million, increasing its bet on resources firms. Temasek owned 40.855 million shares of the Vancouver-based firm, the Singapore investor said in a filing to the U.S. Securities and Exchange Commission on June 8. A source familiar with the deal said Temasek had a small stake in Ivanhoe, which is controlled by mining giant Rio Tinto , but has increased its holding through market purchases. A Temasek spokesman confirmed the filing but did not provide details. Ivanhoe last month launched a rights offering to raise $1.8 billion as part of a comprehensive financing plan to continue development of its Oyu Tolgoi copper-gold project in Mongolia. To read the full article, click hereTemasek takes 5.5 pct stake in Ivanhoe Mines

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