Temasek, the Singapore state investment company, sold out of its shareholdings in Barclaysthis year, making an estimated £500m ($815m) loss on its investment. Temasek reduced its stake of almost 2 per cent in the UK's third-largest bank over several weeks from the turn of the year, according to people familiar with the sale.
Barclays shares fell as low as 51p in January on fears that it would join the list of UK banks needing a government bail-out. Since early March, however, they have risen fivefold amid a broader recovery. They fell 14.5p yesterday to close at 259p.
By contrast, Abu Dhabi-based International Petroleum Investment Company generated a healthy profit from its Barclays investment. IPIC sold its entire holding of 1.3bn shares on Tuesday, turning a £3.5bn investment into £5bn in seven months.
Barclays shares fell as low as 51p in January on fears that it would join the list of UK banks needing a government bail-out. Since early March, however, they have risen fivefold amid a broader recovery. They fell 14.5p yesterday to close at 259p.
By contrast, Abu Dhabi-based International Petroleum Investment Company generated a healthy profit from its Barclays investment. IPIC sold its entire holding of 1.3bn shares on Tuesday, turning a £3.5bn investment into £5bn in seven months.
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