London billionaire Michael Spencer boosts stake in Singapore Life to 63pc

• Michael Spencer has boosted his stake in the firm to 63 per cent from 29 per cent through his private company IPGL
• Spencer paid US$52.7 million to Chong Sing Holdings to acquire the additional 33.8 per cent stake
• An eventual IPO is “certainly” part of the aspirations for Singapore Life, says Singapore Life CEO Walter de Oude