High-profile companies bound for public listings have been hit by surprise lawsuits and complaints from former insiders and vendors alleging breach of past contracts and non-payment of dues, creating uncertainties for the timelines of their initial public offerings (IPO) and casting doubts over their post-listing share performance. Companies feel these are attempts to create hurdles in… Continue reading Several IPO-bound Indian companies hit by last-minute lawsuits, complaints …
Author: Deal Street Asia Online News
Patanjali-owned Ruchi Soya gets Indian regulator’s nod for $580m FPO to pare debt
“The approval came in on Saturday,” the person said. With the regulator’s approval in hand, the company is looking to launch the share sale soon, as early as next week, he added. “They are in a rush to launch. The pricing will be finalized close to the launch date,” he said. Ruchi Soya had filed… Continue reading Patanjali-owned Ruchi Soya gets Indian regulator’s nod for $580m FPO to pare debt
Analysts expect more pressure as Malaysia’s political turmoil drives away investors
Malaysia’s currency fell to a one-year low on Monday and analysts forecast further pressure on the country’s financial markets as the prime minister’s resignation raised the prospect of protracted political instability and uncertainty. PM Muhyiddin Yassin said he quit after losing the confidence of parliament, though Malaysia’s king said he will remain caretaker leader until a replacement is found.… Continue reading Analysts expect more pressure as Malaysia’s political turmoil drives away investors
Aramco in talks to buy 20% stake in Reliance’s oil refining, chemicals biz
Saudi Aramco is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd’s oil refining and chemicals business for about $20 billion to $25 billion in Aramco‘s shares, Bloomberg News reported on Monday. An agreement could be reached as soon as the coming weeks, according to the report which cited people with knowledge of the matter. Aramco and Reliance declined to comment. Reliance announced a sale of a 20%… Continue reading Aramco in talks to buy 20% stake in Reliance’s oil refining, chemicals biz
India: ASK Investment Managers launches flexicap Alternate Investment Fund
ASK Investment Managers Ltd. has launched digital onboarding for its Alternate Investment Fund (AIF), the first of its kind in the industry. The ASK Emerging Opportunities Fund, a close-ended Category-III, long-only AIF is a flexi-cap portfolio with a mid-cap bias and will invest in listed Indian equities. With the government’s focus on Atmanirbhar Bharat and… Continue reading India: ASK Investment Managers launches flexicap Alternate Investment Fund
India Digest: Heads Up For Tails raises $37m; IIFL AMC, others lead funding in Miko …
Pet care company Heads Up For Tails (HUFT) has rasied $37 million in its Series A funding round led by Verlinvest and Sequoia Capital India. In another development, Miko has raised funding from IIFL AMC, Mankind Pharma Family Office, and others. Heads Up For Tails raises $37m Delhi-based pet care company Heads Up For Tails… Continue reading India Digest: Heads Up For Tails raises $37m; IIFL AMC, others lead funding in Miko …
Chinese ride-hailer Didi says will be more transparent on driver income after criticism
China’s Didi Global Inc said on Monday drivers in several Chinese cities will be able to know details on how Didi pays them, the first big move by the ride-hailing giant after it was criticised by state media that it pays drivers unfairly. In a post on Weibo, Didi said drivers in seven Chinese cities will be the first to know… Continue reading Chinese ride-hailer Didi says will be more transparent on driver income after criticism
Deutsche Bank hires 3 Credit Suisse wealth management executives in SE Asia push
Deutsche Bank Wealth Management said on Monday it has hired three executives from Credit Suisse to work across Southeast Asia as part of an ongoing expansion strategy for the region. Urs Brudermann, at Credit Suisse for the past 11 years and most recently as team leader for Thailand, joins Deutsche‘s wealth management arm as managing director and… Continue reading Deutsche Bank hires 3 Credit Suisse wealth management executives in SE Asia push
HSBC to buy Axa’s insurance assets in Singapore for $575m
HSBC said on Monday it had agreed to acquire Axa’s insurance assets in Singapore for $575 million, part of its broader strategy of scaling up its wealth management business in Asia and boosting fee income. The bank said in February it would invest $3.5 billion in its wealth and personal banking business in Asia, while… Continue reading HSBC to buy Axa’s insurance assets in Singapore for $575m
GIC unit backs ESR’s latest China logistics development platform
Hong Kong-based ESR Cayman Limited announced that it has partnered with Dutch pension fund manager APG Asset Management and RECO Investor, an indirectly-owned subsidiary of Singapore’s GIC, to launch a new logistics development platform in China. The ESR China Development Platform (ECDP) will have an initial equity commitment of $1 billion and invest in warehousing… Continue reading GIC unit backs ESR’s latest China logistics development platform