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Libya SWF’s ICICI Stake Worth $32M

Libya’s sovereign fund Libyan Investment Authority, which is facing losses, has seen positive return on its investment in ICICI Bank.

Libya’s sovereign fund Libyan Investment Authority (LIA), which is facing losses, has seen positive return on its investment in ICICI Bank, Financial Chronicle reports. The investment, which was made through the bank’s American depository receipts (ADRs), has a market value of about $32 million.

The oil-heavy wealth fund, with a $53 billion investment position, has reported losses worth billions of dollars on majority of its investments. LIA has investments in companies, including Nokia, Tesco, Petrobras, Lafarge and Roche.

Click here for the story from Financial Chronicle.

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