EBay will sell its South Korean business to retailer Shinsegae Group and e-commerce firm Naver for about 4 trillion won ($3.6 billion), local newspapers reported on Wednesday. EBay Korea is the country’s third-largest e-commerce firm with market share of about 12.8% in 2020, according to Euromonitor. It operates the platforms Gmarket, Auction and G9. Shinsegae,… Continue reading eBay said to be selling South Korean unit to Shinsegae, Naver for $3.6b
Author: Deal Street Asia Online News
Chinese blockchain company Rangers Protocol raises funds at $63m valuation …
China-based blockchain infrastructure startup Rangers Protocol, which has just rebranded from Rocket Protocol, has raised a funding round that values the company at $63 million. Investors include Pantera Capital, Framework Ventures, Huobi Ventures Blockchain Fund, Alameda Research, Hashkey Capital, SevenX Ventures, Spark Digital Capital, Incuba Alpha Holdings, Consensus Lab, Morningstar Ventures, Yuanyuzhou Ventures, and AU21Capital,… Continue reading Chinese blockchain company Rangers Protocol raises funds at $63m valuation …
Southeast Asia’s IPO-ready unicorns set to amp up dealmaking pace …
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 Southeast Asia’s IPO-ready unicorns set to amp up dealmaking pace …
PAI Partners close to buying France’s SGD Pharma from China Jianyin Investment
Private equity firm PAI Partners is close to acquiring France’s SGD Pharma, a supplier of COVID-19 vaccine vials, from China Jianyin Investment (JIC), a source with direct knowledge of the transaction told Reuters. The source said on Tuesday the deal would be submitted to antitrust authorities and employee representative bodies and require approval from China’s… Continue reading PAI Partners close to buying France’s SGD Pharma from China Jianyin Investment
Game maker Krafton aims to raise up to $5b in what could be South Korea’s biggest IPO
Krafton Inc, the South Korean company behind blockbuster video game “PlayerUnknown’s Battlegrounds”, said on Wednesday its IPO would raise up to 5.6 trillion won ($5 billion) at the top of an indicative range, which would be a record for the country. Krafton said in a regulatory filing it expected to offer 10 million shares, at… Continue reading Game maker Krafton aims to raise up to $5b in what could be South Korea’s biggest IPO
LGT Capital Partners secures final close of global secondaries fund at $4.5b hard cap
Swiss alternative investment firm LGT Capital Partners has announced the final close of Crown Global Secondaries V (CGS V), its fifth private equity investment programme investing globally in secondaries, at a hard cap of $4.5 billion. Investors included over 100 institutions, including pension funds, endowments, insurers, sovereign wealth funds, family offices, and financial institutions in… Continue reading LGT Capital Partners secures final close of global secondaries fund at $4.5b hard cap
Softbank leads $170m funding in group messaging app IRL at $1.17b valuation …
Group messaging app IRL, short for in real life, on Tuesday said it raised $170 million in a funding round led by SoftBank Group Corp’s Vision Fund 2 that valued the company at $1.17 billion. The San Francisco-based startup’s messaging platform works like WhatsApp to create private group chats but also allows for public groups… Continue reading Softbank leads $170m funding in group messaging app IRL at $1.17b valuation …
Alibaba executive vice chairman says Jack Ma’s fine and lying low
Alibaba Group Holding founder Jack Ma is fine and “lying low right now”, the Chinese e-commerce giant’s executive vice chairman, Joe Tsai, said in an interview with CNBC on Tuesday. Following Ma‘s criticism of the Chinese regulatory system last year, the authorities have come down heavily on the company, leading to the shelving of financial affiliate Ant Group’s IPO. Ma has been largely out of public view ever… Continue reading Alibaba executive vice chairman says Jack Ma’s fine and lying low
Foxconn unit invests $36m in Gigasolar partnership to develop EV battery materials
Taiwan’s Foxconn said a subsidiary has invested T$995.2 million ($36 million) in Gigasolar Materials Corp to develop electric vehicle (EV) battery materials. Foxconn, Apple’s main iPhone maker, said the investment via a private placement through a Taiwan-based subsidiary will make it the second-largest shareholder in Gigasolar, known for manufacturing solar cell materials. The two companies will jointly… Continue reading Foxconn unit invests $36m in Gigasolar partnership to develop EV battery materials
Bank Rakyat Indonesia seeks to sell 23.25% stake in rights issue
Indonesia‘s largest lender by assets, PT Bank Rakyat Indonesia said on Tuesday it will seek shareholders approval next month to conduct a rights issue that will enable the acquisition of two state firms. BRI plans to sell a maximum 28.68 billion shares in the rights sale, or 23.25% of its total equity, the company said in a stock exchange filing. The government, the controlling shareholder of BRI, will participate in… Continue reading Bank Rakyat Indonesia seeks to sell 23.25% stake in rights issue