Zhuanzhuan, backed by New York-listed Chinese online classifieds marketplace 58.com, has secured a total of $100 million in its Series D1 round of funding led by Chinese smartphone conglomerate Xiaomi. Zhuanzhuan, headquartered in Beijing, is an online marketplace on which users can buy and sell second-hand goods. It sells anything from phones, apparels, cameras, to… Continue reading Tencent-backed Zhuanzhuan nets $100m from Xiaomi, Shunwei, others
Author: Deal Street Asia Online News
India: Max Financial promoters sell shares worth $105m
Max Ventures Investment Holdings Pvt Ltd, a promoter of Max Financial Services on Thursday sold shares worth ₹783 crore through an open market transaction. As per block deal data on NSE, the promoter sold over 7.83 million shares of Max Financial Services Ltd at an average price of ₹1000.8 aggregating to ₹782.88 crore. Government of… Continue reading India: Max Financial promoters sell shares worth $105m
Mitsubishi HC Capital to buy NYSE-listed CAI International for $1.1b
Transportation finance and logistics company CAI International Inc said on Thursday it has agreed to a $1.1 billion takeover by Mitsubishi HC Capital Inc, as the Japanese financial firm expands its overseas operations. The deal consists of $104 million worth of preferred stock and $986 million of common stock equity value, and has an enterprise… Continue reading Mitsubishi HC Capital to buy NYSE-listed CAI International for $1.1b
Flag carrier Garuda Indonesia defaults on $500m sukuk
Flag carrier Garuda Indonesia said it could not distribute coupon payments for its $500 million sukuk after a 14-day grace period, with the airline‘s finances still significantly impacted by the coronavirus pandemic. “Under these circumstances, and in order to ensure the company emerges from the pandemic as a strong and healthy airline, the company announced today that it has reluctantly concluded that… Continue reading Flag carrier Garuda Indonesia defaults on $500m sukuk
China’s Didi ropes in five more banks to work on mega US IPO …
China’s biggest ride-hailing company Didi Chuxing has appointed five more investment banks to work as book runners on its US initial public offering (IPO) worth up to $10 billion, sources with direct knowledge of the matter said. Didi, whose IPO could be the largest by a Chinese firm in the United States in seven years, has given… Continue reading China’s Didi ropes in five more banks to work on mega US IPO …
Novo Holdings sees investment opportunity in Asia’s skewed doctor-patient ratio …
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 Novo Holdings sees investment opportunity in Asia’s skewed doctor-patient ratio …
The Hive SEA looks to secure final close of seed fund at $18.3m by Q4 this year
Saloman Link, Kuala Lumpur, Malaysia. Photo: AMAR SYAZWAN ROSMAN/unsplash Premium The Hive Southeast Asia (The Hive SEA), which was selected by the Malaysian government for its Dana Penjana National (DPN) Programme, is targeting to make the final close of its seed fund at 75 million ringgit ($18.23 million) during the fourth quarter of this year.… Continue reading The Hive SEA looks to secure final close of seed fund at $18.3m by Q4 this year
CEO Anthony Tan’s enormous clout over Grab after planned IPO raises questions
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Indonesia’s OJK sets the ball rolling on dual-class shares to attract more domestic IPOs …
Dual-class shares — or two classes of shares, with different voting rights, issued by the same company — may be moving closer to reality in Indonesia. The Indonesia Financial Services Authority (OJK) has prepared a draft regulation that may permit the issuance of shares with multiple voting rights (MVR) show details published on the regulator’s… Continue reading Indonesia’s OJK sets the ball rolling on dual-class shares to attract more domestic IPOs …