Sy Phong Bui, the founder and CEO of VC-backed Telio, will have to transfer his shares in the B2B e-commerce platform to investors of OOPA Pte Ltd, the holding company of Bui’s previous venture OnOnPay, a fintech firm that operated in Vietnam. The Singapore High Court on Wednesday put an end to a two-year dispute… Continue reading Founder of Vietnam’s Telio ordered to transfer his shares in the firm to OnOnPay investors …
Author: Deal Street Asia Online News
Creador-backed Malaysia’s CTOS signs 20 cornerstone investors for $290m IPO
Malaysian credit reporting firm CTOS Digital Bhd has secured more than 20 cornerstone investors for its planned public market debut next month, including AIA Group Ltd and Aberdeen Standard Investments, two sources familiar with the deal said. Other funds signed on for what is set to be Malaysia’s biggest initial public offering so far this… Continue reading Creador-backed Malaysia’s CTOS signs 20 cornerstone investors for $290m IPO
India’s Federal bank gets approval to raise $124m from IFC
Private lender Federal Bank on Wednesday said its board has approved raising Rs 916 crore through issue of equity shares to the International Finance Corporation ( IFC) and its affiliates. “…The Board has approved issuance of up to 104,846,394 equity shares offace value of Re. 2/- each (Equity Shares) to IFC, IFC FinancialInstitutions Growth Fund,… Continue reading India’s Federal bank gets approval to raise $124m from IFC
India: NV Capital launches media & entertainment focused credit fund
NV Capital on Wednesday announced the launch of its maiden media & entertainment credit fund with a corpus of about $68 million (Rs 500 crore). The fund recently received a nod from Indian market regulator SEBI as Category II Alternative Investment Fund. NV Capital is looking to raise funds from domestic as well as offshore… Continue reading India: NV Capital launches media & entertainment focused credit fund
China’s Yingke PE raises $155m for RMB fund, total fundraising this year stands at $2b
Chinese investment firm Yingke PE announced on Wednesday that it has raised 1 billion yuan ($155.4 million) for a new RMB-denominated fund, bringing the firm’s total fundraising amount so far this year to over 13 billion yuan ($2 billion). The fundraising for the new Chinese yuan fund follows the final closing of an earlier RMB… Continue reading China’s Yingke PE raises $155m for RMB fund, total fundraising this year stands at $2b
India: Nazara Technologies acquires Turkish game publisher Publishme …
Gaming and sports media platform, Nazara Technologies Ltd. has made its first acquisition after it listed on exchanges in March this year. The company has signed a binding term sheet to acquire West Asia- and Turkey-based mobile gaming publishing agency, Publishme in a primary and secondary purchase worth $2.7 million. As part of the deal,… Continue reading India: Nazara Technologies acquires Turkish game publisher Publishme …
China takes steps to regulate behaviour of major shareholders of banks, insurers
Chinese regulators on Thursday published draft rules to regulate behaviour of major shareholders of banks and insurers, in a bid to improve corporate governance and protect the interest of other stakeholders. The rules, published by the China Banking and Insurance Regulatory Commission (CBIRC), will restrict major shareholders‘ activities related to investment, transactions and corporate governance. China has already taken a series of measures https://www.reuters.com/article/china–banks-idUKL4N24T0G4 to rein in the power of dominant shareholders in… Continue reading China takes steps to regulate behaviour of major shareholders of banks, insurers
India: Talent engagement platform Sense raises $16m led by Avataar Ventures
Artificial Intelligence-based talent platform, Sense, on Thursday said it has raised $16 million as part of its Series C funding round, led by Avataar Ventures. Existing investors Accel and Google Ventures also participated in the round. Along with the fund raise, Sense has roped in former InMobi executive Sanjay Dharmani as managing director for its… Continue reading India: Talent engagement platform Sense raises $16m led by Avataar Ventures
Hong Kong tycoon Richard Li’s insurance firm FWD files for IPO in US …
Hong Kong tycoon Richard Li’s insurer FWD said it has lodged an application to regulators for an initial public offering in the United States. The company did not reveal the size of the IPO but the deal could raise between $2 to $3 billion, people familiar with the matter said. A raising of that size… Continue reading Hong Kong tycoon Richard Li’s insurance firm FWD files for IPO in US …
Baidu unit aims to offer robotaxi service to 3m users in 2023 …
Chinese tech giant Baidu said on Thursday its smart driving unit Apollo plans to cater to a total of 3 million users in China with a fleet of 3,000 robotaxis in 2023. Baidu also announced that it is partnering with BAIC Group’s electric vehicle (EV) brand ARCFOX to develop Apollo Moon, EV robotaxis that are… Continue reading Baidu unit aims to offer robotaxi service to 3m users in 2023 …