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Profile: Sumitomo Mitsui
Sumitomo Mitsui was a participant or observer in the following events:
The leading British bank Barclays announces that it will issue new shares worth £4.5bn (about $9bn) to bolster its finances, which have been hit by losses on US mortgage-backed securities. Much of the new money will come from Asian investors, led by the state-run Qatar Investment Authority (QIA). The Qataris will invest £1.7bn (about $3.4bn), taking a 7.7 percent stake. [BBC, 6/25/2008] The QIA’s holding company is chaired by Sheikh Hamad Bin Jassim Bin Jabr Al-Thani, Qatar’s prime minister, who is to invest another £533m (about $1bn) privately through a company named Challenger. [Daily Telegraph, 6/27/2008] The Japanese bank Sumitomo Mitsui will invest £500m (about $1bn) and existing shareholders are also to buy more shares. The China Development Bank will buy another £136m (about $270m) of shares, and the Singaporean investment fund Temasek will buy another £200m (about $390m) of them. [BBC, 6/25/2008]
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