Author: Deal Street Asia Online News

Baring PE Asia sells Korean parcel delivery company Logen for $324m

Alternative investment major Baring Private Equity Asia (BPEA) has sold Korean domestic parcel delivery company Logen to Daemyung Chemical Group, a company specialising in fashion and logistics, for $324 million.  Logen will be acquired by Daemyung’s publicly-listed fashion retailing subsidiary Cowell Fashion, according to a statement.  The deal came after Logen had achieved its highest… Continue reading Baring PE Asia sells Korean parcel delivery company Logen for $324m

Shares of Xpeng fall in Hong Kong debut even as the EV maker eyes global rollout

Chinese electric vehicle maker Xpeng Inc shares fell by up to 3.5% in its $1.8 billion Hong Kong dual primary listing on Wednesday as the company said it would develop future models based on product platforms designed for international markets. Xpeng shares opened 1.8% higher from the HK$165 per share issue price but the positive… Continue reading Shares of Xpeng fall in Hong Kong debut even as the EV maker eyes global rollout

China tech crackdown wipes out billions from Didi, other US-listed cos

Didi Global Inc shares slumped as much as 25% in U.S. pre-market trade on Tuesday, ahead of its first session since Chinese regulators ordered the company’s app be taken down days after its $4.4 billion listing on the New York Stock Exchange. The ride-hailing giant’s app was ordered to be removed from mobile app stores in China on Sunday by… Continue reading China tech crackdown wipes out billions from Didi, other US-listed cos

Carsome invests in Indonesian car auction firm PT Universal Collection

Southeast Asian used car trading platform Carsome announced that it has acquired a stake in PT Universal Collection, a Jakarta-based offline car and motorcycle auction service company. Financial details of the acquisition were not disclosed. The deal marks Carsome’s first investment in Southeast Asia this year and allows the integrated car e-commerce platform to double… Continue reading Carsome invests in Indonesian car auction firm PT Universal Collection

China’s autonomous driving startup Freetech raises over $100m in Series A round

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading China’s autonomous driving startup Freetech raises over $100m in Series A round

Founders of Chinese ride-hailing firm Didi eye global growth after $4.4b IPO

From working at a foot massage company to setting up China’s biggest ride-hailing firm, Will Wei Cheng has navigated several hurdles on the path to taking Didi Global Inc public in a $4.4-billion New York float. As Cheng rose to the upper echelons of Chinese technology entrepreneurs, he faced challenges including tough competition, intense criticism for Didi after rape and murder cases linked to its drivers… Continue reading Founders of Chinese ride-hailing firm Didi eye global growth after $4.4b IPO

Chinese EV maker Xpeng said to raise $1.8b in HK listing

Chinese electric vehicle maker Xpeng Inc will raise $1.8 billion by pricing its shares at HK$165 ($21.25) each as part of its Hong Kong dual primary listing, two people with direct knowledge of the matter said. The people declined to be identified as the information was not yet public. Xpeng declined to comment on pricing guidance given to investors. The company sold 85 million shares in the deal… Continue reading Chinese EV maker Xpeng said to raise $1.8b in HK listing

TR Capital leads consortium to invest $96m in Chinese salvage cars auction site Bochewang …

Asian secondaries investor TR Capital has led a consortium of investors to make a $95.7-million secondary direct investment in Chinese salvage cars online auction platform Bochewang, TR Capital announced on Friday. The secondary direct investment, which refers to the buying and selling of an investor’s ownership in a privately held company, is part of Bochewang’s… Continue reading TR Capital leads consortium to invest $96m in Chinese salvage cars auction site Bochewang …

Chinese automaker Geely Auto scraps plans to list on STAR Market …

China’s Geely Automobile Holdings Ltd said on Friday it is dropping plans to list new shares on the mainland’s Nasdaq-like STAR Market. Zhejiang-based Geely Auto, China’s highest-profile automaker thanks to parent Zhejiang Geely Holding Group’s investments in Daimler AG and Volvo Cars, is listed in Hong Kong with a market capitalisation of HK$255 billion ($32.85 billion). In September, Geely Auto said in a… Continue reading Chinese automaker Geely Auto scraps plans to list on STAR Market …