Author: Deal Street Asia Online News

Singapore watchdog CCCS clears LSE’s $27b acquisition of Refinitiv

Singapore’s competition authority has approved the London Stock Exchange Group’s $27 billion acquisition of data and analytics company Refinitiv provided the bourse continues to offer certain foreign exchange benchmarks to rivals. The Competition and Consumer Commission of Singapore (CCCS) gave the conditional approval after examining whether the deal, which transforms the 300-year-old bourse into a… Continue reading Singapore watchdog CCCS clears LSE’s $27b acquisition of Refinitiv

Thailand’s Siam Commercial Bank to launch hotel booking app next year

Thailand’s oldest lender, Siam Commercial Bank Pcl (SCB), said on Monday it plans to launch a hotel booking application next year that does not charge hospitality operators a gross profit fee. The bank said it would launch the app, “Zero GP OTA”, to assist small and medium-sized hotel entrepreneurs to reduce their online travel agency (OTA) costs.… Continue reading Thailand’s Siam Commercial Bank to launch hotel booking app next year

Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m

The Sherpa Company Limited, a subsidiary of the Vietnamese conglomerate Masan Group Corporation, has acquired a 20% stake in Phuc Long Heritage Joint Stock Company, the firm behind the local tea and coffee brand Phuc Long, for $15 million, according to an announcement. As part of the deal, the Masan Group-owned retailer VinCommerce, which runs… Continue reading Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m

China’s Eminence closes USD Fund II at $120m to focus on enterprise software …

Eminence Ventures, which invests in early-stage enterprise software and cloud computing startups in China, has reached the final close of its second US dollar fund at $120 million, bringing the firm’s total assets under management (AUM) to nearly $200 million. The second US dollar fund attracted backing from Silicon Valley’s Emergence Capital, and Hong Kong’s… Continue reading China’s Eminence closes USD Fund II at $120m to focus on enterprise software …

Xiaomi-backed Chinese tax platform Huisuanzhang bags $80m Series D

China’s Huisuanzhang, a SaaS-based corporate accounting and tax management platform, has secured $80 million in a Series D round of financing from undisclosed investors, per its announcement on Monday.  Investment bank Cygnus Equity served as financial advisor for the deal, it said in a WeChat post.  The platform will invest the funding proceeds to grow… Continue reading Xiaomi-backed Chinese tax platform Huisuanzhang bags $80m Series D

China Digest: TYK Medicines bags $62m; TAOS Data raises $47m led by Matrix Partners China …

TYK Medicines has garnered nearly 400 million yuan ($62 million) in a Series B+ round led by Sealand Innovation, while TAOS Data has secured $47 million in a Series B round led by Matrix Partners China. TYK Medicines bags nearly $62m Series B+ Chinese biopharmaceutical firm TYK Medicines has garnered nearly 400 million yuan ($62… Continue reading China Digest: TYK Medicines bags $62m; TAOS Data raises $47m led by Matrix Partners China …

Asia Digest: Kakao Japan raises $550m; Tokyo-listed Saint Marc bags $64m

Anchor Equity Partners led a 60 billion yen ($550 million) investment round in Kakao Japan, while Advantage Partners invested 7 billion yen ($64 million) in restaurant operator Saint Marc. Anchor Equity invests $550m in Kakao Japan Anchor Equity Partners, a private equity firm focused on opportunities in Korea and North Asia, has led an investment… Continue reading Asia Digest: Kakao Japan raises $550m; Tokyo-listed Saint Marc bags $64m

SEA Digest: Thailand’s first initial coin offering; S&P assists Vietnam’s FiinGroup

SPV77 plans to raise $76.48 million in Thailand’s first initial coin offering (ICO); Vietnam’s FiinGroup will receive technical assistance from S&P Global Ratings.  SPV77 plans Thailand’s first initial coin offering SPV77 Co Ltd has announced plans to raise 2.4 billion baht ($76.48 million) from the launch of 240 million real estate-backed digital tokens, in Thailand’s… Continue reading SEA Digest: Thailand’s first initial coin offering; S&P assists Vietnam’s FiinGroup

Kredivo’s parent firm FinAccel builds 24% stake in Indonesia’s Bank Bisnis Internasional

FinAccel, the parent company of Indonesia’s digital credit platform Kredivo, has acquired a 24% stake in local bank PT Bank Bisnis Internasional Tbk, according to a stock exchange disclosure by the latter.  FinAccel spent 551.31 billion rupiah ($38.4 million) to buy the stake in Bank Bisnis Internasional from its existing shareholders PT Sun Land Investasi… Continue reading Kredivo’s parent firm FinAccel builds 24% stake in Indonesia’s Bank Bisnis Internasional