Author: Deal Street Asia Online News

China to facilitate Hong Kong IPOs and expand Stock Connect

China will facilitate Hong Kong listings by leading Chinese companies and expand the Stock Connect cross-border investment scheme to promote Hong Kong‘s status as a global financial centre, China’s securities regulator said on Friday. The investment link between mainland China and Hong Kong will be broadened to include real estate investment trusts (REITs) and yuan-denominated stocks listed in Hong Kong, the China Securities Regulatory Commission… Continue reading China to facilitate Hong Kong IPOs and expand Stock Connect

Hong Kong watchdog to investigate PwC audit role in Evergrande

Hong Kong’s audit watchdog Accounting and Financial Reporting Council (AFRC) said on Friday it would investigate PricewaterhouseCoopers’ (PwC) management in auditing China Evergrande Group over a whistle-blower report circulating in the media. “The report expressed significant concerns regarding potential alleged deficiencies in PricewaterhouseCoopers’ systems of quality management and the quality of the audits of China Evergrande Group,” AFRC said… Continue reading Hong Kong watchdog to investigate PwC audit role in Evergrande

India: Climate-smart deeptech startup Ecozen raises $30m from Nuveen, others

Climate-focused deeptech company Ecozen Friday announced that it has raised $30 million in debt-cum-equity financing. Nuveen and existing investors joined the funding round while the debt component was contributed by InCred Credit Fund and the U.S. International Development Finance Corporation (DFC), the startup said in a statement. Ecozen will use the proceeds to meet the… Continue reading India: Climate-smart deeptech startup Ecozen raises $30m from Nuveen, others

India’s Ola Cabs plans $500m IPO, to appoint banks soonThis is Ola’s second attempt at an IPO after a 2021 plan to raise up to $1 billion was canned.

Indian ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion, three sources with direct knowledge of the matter told Reuters on Friday. SoftBank-backed Ola is India’s answer to Uber and plans to file papers for approval with the country’s market regulator within three months, said… Continue reading India’s Ola Cabs plans $500m IPO, to appoint banks soonThis is Ola’s second attempt at an IPO after a 2021 plan to raise up to $1 billion was canned.

Deal Digest: Gaw Capital acquires assets in Tokyo; Indonesia’s PathGen raises fundsPathGen has raised an undisclosed sum from East Ventures and conglo…

Hong Kong-based Gaw Capital Partners has acquired residential properties in Tokyo while Indonesian biotech startup PathGen has raised funds. Gaw Capital picks residential properties in Tokyo  Hong Kong-headquartered real estate private equity firm Gaw Capital Partners (Gaw Capital) on Friday announced that it has acquired 29 new residential properties in Tokyo. In a statement, Gaw… Continue reading Deal Digest: Gaw Capital acquires assets in Tokyo; Indonesia’s PathGen raises fundsPathGen has raised an undisclosed sum from East Ventures and conglo…

China’s Ant Group in talks to launch Alipay+ in Indonesia

China’s Ant Group is in talks with Indonesia to bring its popular cross-border payment service Alipay+ there, the chief of its international business was quoted by media as saying on Friday after meeting with the country’s communications minister. Launched in 2020, Alipay+ provides services and technology tools to global merchants and e-wallets that enable them… Continue reading China’s Ant Group in talks to launch Alipay+ in Indonesia

Norway wealth fund backs proposal to split Goldman CEO, chair roles

Norway‘s $1.6 trillion sovereign wealth fund, one of the world’s largest investors, will support a resolution calling for Goldman Sachs to split the roles of CEO and board chair, it said on Friday. Proxy advisors Institutional Shareholder Services (ISS) and Glass Lewis have recommended that investors back a shareholder resolution urging the bank to split the two… Continue reading Norway wealth fund backs proposal to split Goldman CEO, chair roles

India’s state-run NBCC to set up shadow lender to help save over $100m

India’s state-run NBCC plans to set up its own non-banking finance company (NBFC) later this year to lower its borrowing costs for key infrastructure projects, according to two sources directly involved in the matter. The construction and real estate developer estimates the move will help it save $108 million in interest costs over the next… Continue reading India’s state-run NBCC to set up shadow lender to help save over $100m