Temasek holds around 6 percent of Payoneer after SPAC deal

U.S. five dollar currency notes bills; taken September 2018.U.S. five dollar currency notes bills; taken September 2018.

Singapore’s state-owned investment company Temasek Holdings owns 20.24 million shares of Payoneer, or an around 5.98 percent stake, after the cross-border payments fintech went public in late June, according to a U.S. securities filing Tuesday.

The shares are held via subsidiaries Fullerton Fund Investments and Birchtree Fund Investments.

At US$9.86 a share, the trading price at 10:39 a.m. ET Wednesday, the stake was worth around US$199.58 million.

In late June, Payoneer became listed on Nasdaq after combining with special purpose acquisition company (SPAC) FTAC Olympus Acquisition Corp.

The deal included a US$300 million PIPE — or private investment in public equity — investment from existing investor Wellington Management, as well as Dragoneer Investment Group, Fidelity Management & Research Company, Franklin Templeton, certain funds managed by Millennium Management, funds and accounts advised by T. Rowe Price Associates, and Winslow Capital Management.

In 2018, CNBC put Payoneer at no.13 on its list of Disrupter 50, or companies with innovations set to revolutionise their sectors.