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
Author: Deal Street Asia Online News
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 …
Weekly Roundup: Malaysia’s Ulalive raises $300K and other SE Asia deals
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Didi Chuxing’s mega IPO to boost China listing frenzy in the US
Ride-hailing giant Didi Chuxing’s planned $4 billion New York debut will supercharge Chinese listings in the United States on the back of an all-time high in the first half of the year, despite political sparring between the two countries. A total of 29 initial public offerings (IPOs) by Chinese companies in the United States in the first… Continue reading Didi Chuxing’s mega IPO to boost China listing frenzy in the US
Chinese EV maker Xpeng to list on Hong Kong Stock Exchange …
Chinese electric-vehicle maker Xpeng Inc said on Thursday it was looking to list its common shares on the Hong Kong Stock Exchange as part of a global offering to raise as much as $2 billion. After the proposed listing, Xpeng‘s Class A ordinary shares in Hong Kong will be convertible with its American depositary shares (ADS) that are… Continue reading Chinese EV maker Xpeng to list on Hong Kong Stock Exchange …
Debt-laden Chinese realtor Evergrande to repay offshore bonds after arranging $1.75b
China‘s most indebted property developer said it had arranged its own funds of HK$13.6 billion ($1.75 billion) to repay bonds due on Monday, as well as to pay interest on all other dollar bonds, sending its shares sharply higher. The funds are to be remitted into the bond repayment account, the company said on Thursday,… Continue reading Debt-laden Chinese realtor Evergrande to repay offshore bonds after arranging $1.75b
Chinese self-driving startup WeRide raises $310m, strengthens ties with Nissan …
WeRide, a China-based autonomous driving startup, said on Wednesday that it would deepen development with Nissan Motor on autonomous driving technology for the China market as it raised $310 million at a $3.3 billion valuation. WeRide, led by founder Tony Han, is pursuing what is known in the auto industry as a level 4 autonomous… Continue reading Chinese self-driving startup WeRide raises $310m, strengthens ties with Nissan …
Grab, Hyundai set to launch EV pilots to drive Southeast Asia adoption
Ride-hailing giant Grab and South Korean automaker Hyundai Motor Group are gearing up to accelerate the adoption of electric vehicles (EVs) in Southeast Asia. The companies had forged a partnership to spruce up the use of EVs in Southeast Asia in 2018. Grab and Hyundai will launch the new pilot programmes in Singapore, Indonesia, and… Continue reading Grab, Hyundai set to launch EV pilots to drive Southeast Asia adoption