News / Li & Fung Logistics IPO put on hold as Singapore's Temasek injects US$300m

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The proposed initial public offering (IPO) of Hong Kong sourcing giant Li & Fung’s logistics unit has been put on hold, following a US$300m investment from Singapore sovereign wealth fund Temasek.

Temasek is taking a 21.7% stake in LF Logistics in a deal which values the company at $1.4bn. Li & Fung will retain 78.3%.

In a filing to the Hong Kong Stock Exchange, it said the investment would “fund future capital expenditures, repay existing bank facilities and accelerate business growth initiatives”.

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