Japanese supermarket operator OK Corp will launch a counter bid for Kansai Super Market Ltd., which has already agreed to integrate with H2O Retailing, the Nikkei reported on Thursday. OK Corp will attempt to win support from shareholders to oppose the integration at a shareholders meeting scheduled for Oct. 29, when a share exchange between Kansai Super Market and H2O Retailing… Continue reading Japan’s OK Corp to bid for Kansai Super Market, challenging H2O Retailing integration
Author: Deal Street Asia Online News
India Digest: AppsForBharat raises $10m; Teachmint eyes $70m funding …
AppsForBharat has raised $10 million in its Series A funding round led by Elevation Capital. Separately, online teaching platform Teachmint is reportedly in talks to raise $70 million in a new funding round. AppsForBharat raises $10m led by Elevation AppsForBharat, a tech company focused on building apps to service the spiritual and devotional needs of… Continue reading India Digest: AppsForBharat raises $10m; Teachmint eyes $70m funding …
SGX halves minimum m-cap requirement for SPACs to $111m in final framework …
Premium The Singapore Exchange (SGX) is allowing Special Purpose Acquisition Companies (SPACs) to list at a lower minimum value of S$150 million ($111 million), compared with S$300 million suggested in the initial SPAC framework, according to an announcement. This confirms a report first released by DealStreetAsia last month. Go to Source
China’s Alibaba Group to invest $15.5b towards “common prosperity”
China’s Alibaba Group will invest 100 billion yuan ($15.5 billion) by 2025 in support of “common prosperity”, it said, becoming the latest corporate giant to pledge support for the initiative driven by President Xi Jinping. Beijing has been encouraging companies to share wealth as part of the effort to ease inequality in the world’s second-largest… Continue reading China’s Alibaba Group to invest $15.5b towards “common prosperity”
India: Invest-tech platform dezerv. raises $7m in seed funding from Elevation Capital, Matrix
dezerv., an ‘expert’ investing tech platform, has raised $7 million in a seed funding round co-led by Elevation Capital and Matrix Partners India, with participation from reputed investors such as Whiteboard Capital, Nath Ventures and Blume Founders Fund. Given that this is a seed round, the size of the capital raised was quite substantial. Established… Continue reading India: Invest-tech platform dezerv. raises $7m in seed funding from Elevation Capital, Matrix
China Digest: Allsense, CN Technology in funding news
Industrial internet firm Allsense has raised its Series B round. In a separate development, Shanghai CN Science and Technology Co., Ltd has garnered a new round of funding, led by Matrix Partners China. Allsense raises funding Allsense, which provides industrial internet solutions for thermoelectric energy production in China, has secured a Series B round of… Continue reading China Digest: Allsense, CN Technology in funding news
People Digest: Antler, CVC Capital, Indosuez Wealth Management announce key appointments
Global early-stage VC Antler has appointed Subir Lohani as partner and Indonesia country head. Meanwhile, private equity firm CVC Capital Partners (CVC) has roped in Brett Sutton as Chair of Australia as it is set to open an office in Sydney. In yet another development, Indosuez Wealth Management has appointed Ian Koo as the new… Continue reading People Digest: Antler, CVC Capital, Indosuez Wealth Management announce key appointments
China’s Xiaomi registers electric vehicle unit with CEO Lei Jun in charge …
Chinese smartphone giant Xiaomi Corp said on Wednesday that it has completed the official business registration of its electric vehicle unit, marking the latest milestone in its push into the automotive sector. The new unit, to be called Xiaomi EV Inc, opened with a registered capital of 10 billion yuan ($1.55 billion) and Xiaomi CEO Lei Jun as… Continue reading China’s Xiaomi registers electric vehicle unit with CEO Lei Jun in charge …
Deutsche Bank regains HK IPO sponsor licence after suspension in June
Deutsche Bank has regained its Hong Kong Initial Public Offerings (IPOs) sponsors licence after it was suspended in June following the departure of key staff, according to a notice on the website of the city’s markets watchdog. Regulators put the licence on hold when the bank‘s IPO principals left. Deutsche had still been able to work on deals in a junior role but could not act as sponsor,… Continue reading Deutsche Bank regains HK IPO sponsor licence after suspension in June
Chinese regulators raise concerns with ride-hailing companies
Chinese regulators summoned 11 ride–hailing firms including Didi Global Inc, Geely’s Caocao and Meituan’s ride–hailing unit to a meeting, the transport ministry said on Thursday, to discuss points of concern in the sector. At the meeting held on Wednesday, authorities highlighted the hiring of unqualified drivers and use of promotions that disrupt fair market order, the ministry said in a statement. Regulators urged ride–hailing companies… Continue reading Chinese regulators raise concerns with ride-hailing companies