GIC an investor in China e-commerce platform Meituan-Dianping’s US$4 bil round financing

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SINGAPORE (Oct 20): GIC, Singapore’s sovereign wealth fund, is investing in Meituan-Dianping as part of its latest US$4 billion (S$5.4 billion) financing round led by existing investor Tencent.

Meituan-Dianping is a one-stop services e-platform that connects 280 million annual active consumers with over five million annual active local merchants across a wide range of services and products.

The funds will be used to strengthen the company’s core business groups and enable continued investment in AI-based technology and innovation... (Click here to read the full story.)