Author: Deal Street Asia Online News

LGT Capital Partners secures final close of global secondaries fund at $4.5b hard cap

Swiss alternative investment firm LGT Capital Partners has announced the final close of Crown Global Secondaries V (CGS V), its fifth private equity investment programme investing globally in secondaries, at a hard cap of $4.5 billion. Investors included over 100 institutions, including pension funds, endowments, insurers, sovereign wealth funds, family offices, and financial institutions in… Continue reading LGT Capital Partners secures final close of global secondaries fund at $4.5b hard cap

Softbank leads $170m funding in group messaging app IRL at $1.17b valuation …

Group messaging app IRL, short for in real life, on Tuesday said it raised $170 million in a funding round led by SoftBank Group Corp’s Vision Fund 2 that valued the company at $1.17 billion. The San Francisco-based startup’s messaging platform works like WhatsApp to create private group chats but also allows for public groups… Continue reading Softbank leads $170m funding in group messaging app IRL at $1.17b valuation …

Alibaba executive vice chairman says Jack Ma’s fine and lying low

Alibaba Group Holding founder Jack Ma is fine and “lying low right now”, the Chinese e-commerce giant’s executive vice chairman, Joe Tsai, said in an interview with CNBC on Tuesday. Following Ma‘s criticism of the Chinese regulatory system last year, the authorities have come down heavily on the company, leading to the shelving of financial affiliate Ant Group’s IPO. Ma has been largely out of public view ever… Continue reading Alibaba executive vice chairman says Jack Ma’s fine and lying low

Foxconn unit invests $36m in Gigasolar partnership to develop EV battery materials

Taiwan’s Foxconn said a subsidiary has invested T$995.2 million ($36 million) in Gigasolar Materials Corp to develop electric vehicle (EV) battery materials. Foxconn, Apple’s main iPhone maker, said the investment via a private placement through a Taiwan-based subsidiary will make it the second-largest shareholder in Gigasolar, known for manufacturing solar cell materials. The two companies will jointly… Continue reading Foxconn unit invests $36m in Gigasolar partnership to develop EV battery materials

Bank Rakyat Indonesia seeks to sell 23.25% stake in rights issue

Indonesia‘s largest lender by assets, PT Bank Rakyat Indonesia said on Tuesday it will seek shareholders approval next month to conduct a rights issue that will enable the acquisition of two state firms. BRI plans to sell a maximum 28.68 billion shares in the rights sale, or 23.25% of its total equity, the company said in a stock exchange filing. The government, the controlling shareholder of BRI, will participate in… Continue reading Bank Rakyat Indonesia seeks to sell 23.25% stake in rights issue

China tells e-commerce firms to regulate promotional phone messages

China‘s industry ministry on Tuesday said that it had told e-commerce giants Alibaba, JD.com and Pinduoduo to regulate their use of promotional phone messaging to users ahead of the annual June 18 shopping festival. The directive, delivered during what the ministry said was a meeting on June 11, is the latest move in an ongoing regulatory clampdown on China‘s booming “platform economy”.… Continue reading China tells e-commerce firms to regulate promotional phone messages

India: Global Consumer Acquisition Corp raises $170m in NASDAQ listing …

Global Consumer Acquisition Corp (GCAC), a blank cheque company backed by private equity veteran Rohan Ajila, and Gautham Pai, chairman of The Manipal Group, has raised $170 million as part of an initial public offering (IPO) this week. The company, which listed on NASDAQ under the symbol ‘GACQU’ this week, is a special purpose vehicle… Continue reading India: Global Consumer Acquisition Corp raises $170m in NASDAQ listing …

SG data centre provider Digital Edge acquires Indonesian IT firm Indonet for $165m …

Singapore-based data centre provider Digital Edge has acquired a controlling stake in Indonesian digital infrastructure service provider Indonet for $165 million, per an announcement. The acquisition has been routed through Digital Edge’s Hong Kong subsidiary and it will enable the newly-established company in the city-state to develop sophisticated solutions for cloud, and financial service customers.… Continue reading SG data centre provider Digital Edge acquires Indonesian IT firm Indonet for $165m …

Malaysia’s Axiata says merger with Telenor to be sealed within days

Malaysian telecoms firm Axiata Group Bhd and Norway’s Telenor ASA will seal a deal to merge their Malaysian mobile operations within days, Axiata‘s CEO said on Tuesday. Both companies have concluded the due diligence process and are hopeful to sign the agreement soon, Izzaddin Idris told a virtual briefing with reporters. “The signing is a matter of days or a week,” he added. Idris said shareholders… Continue reading Malaysia’s Axiata says merger with Telenor to be sealed within days