Author: Deal Street Asia Online News

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

Self-driving tech supplier Quanergy nears China-backed SPAC deal to go public …

Quanergy Systems Inc, a supplier of self-driving car technology, is nearing a deal to go public through a merger with Chinese blank-check acquisition firm CITIC Capital Acquisition Corp, people familiar with the matter said on Monday. Quanergy would be the latest company developing LiDAR technology – which uses laser beams to help generate a three-dimensional… Continue reading Self-driving tech supplier Quanergy nears China-backed SPAC deal to go public …

China Evergrande plans to repay $1.5b bond this week

China‘s most indebted property developer Evergrande Group plans to repay its $1.47 billion offshore bond maturing next Monday this week, ahead of schedule, a source close to Evergrande said. In recent weeks some of the bonds of Evergrande and its subsidiaries have sold off on rising investor concerns over the developer’s ability to make timely payments. This pushed the yields on two separate 5.8% 2025 onshore bonds to above 29.5% from… Continue reading China Evergrande plans to repay $1.5b bond this week

Freight tech startup Forto raises $240m led by Softbank

Forto has raised $240 million from investors led by Softbank, the freight technology startup said on Monday, and will invest in expanding its platform for organising trade shipments between China and Europe. The five-year-old Berlin firm offers a single platform for managing the journey of a shipping container from origin to destination – a task long handled with pen, paper and post-it notes, said Forto CEO… Continue reading Freight tech startup Forto raises $240m led by Softbank

Indonesia’s VC-backed startups dole out biggest bonuses among ASEAN peers …

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 Indonesia’s VC-backed startups dole out biggest bonuses among ASEAN peers …

Co-founder of SoftBank-backed Indian online grocer Grofers exits firm

While Kumar will not be involved in the day-to-day functions of the company, he will continue his role as a board member of the e-grocery firm and be a shareholder in the company. “When I look back at what we have achieved in this short time, I can only feel proud. You should too. We… Continue reading Co-founder of SoftBank-backed Indian online grocer Grofers exits firm