Author: Deal Street Asia Online News

Logistics firm Flash Express becomes Thailand’s first unicorn after raising $150m

Thailand-based Flash Express has raised a combined $150 million in its Series D+ and Series E rounds, the company said in a statement. The funding rounds valued the third-party logistics provider at over $1 billion, the company told DealStreetAsia without specifying the exact amount. This makes Flash Express Thailand’s first unicorn. Flash Express’ Series D+… Continue reading Logistics firm Flash Express becomes Thailand’s first unicorn after raising $150m

Ribbit Capital-backed Ajaib eyes depth in Indonesia’s stock investment game amid competition

Premium Indonesian online stock brokerage platform Ajaib Group, which raised $90 million in possibly the largest-ever Series A round by a Southeast Asian startup, is looking to go “really deep” in its fintech play that has attracted considerable interest from the country’s top unicorns. With only 1% of Indonesia’s over 260 million population investing in… Continue reading Ribbit Capital-backed Ajaib eyes depth in Indonesia’s stock investment game amid competition

Retail investors snap up China’s first batch of REITs on day one sales …

China’s first batch of real estate investment trusts (REITs) were snapped up by retail investors on their first day of sales on Monday, according to fund managers and state media. The retail tranches of the nine REITs, worth about 2 billion yuan ($314.05 million), attracted over 30 billion yuan of retail subscriptions, or over 10 times… Continue reading Retail investors snap up China’s first batch of REITs on day one sales …

China’s Qiming Venture Partners sets up $500m fund to invest in listed firms: Report

Qiming Venture Partners, a China-focused venture capital (VC) firm that has invested in smartphone maker Xiaomi and food delivery giant Meituan, has set up its first fund to invest in listed companies, The Information reported. The $500 million fund, dubbed Springhill Fund, will primarily invest in Chinese healthcare companies listed outside of mainland China, according… Continue reading China’s Qiming Venture Partners sets up $500m fund to invest in listed firms: Report

Australian property firm PEXA prepares for domestic IPO after rejecting KKR bid …

Australian digital property settlement company PEXA is heading for an initial public offering on the domestic stock exchange towards the end of June, its top shareholder Link Group said in a disclosure on Monday. Link said an underwriting agreement for the proposed IPO on the Australian Securities Exchange (ASX) has been signed, implying an enterprise… Continue reading Australian property firm PEXA prepares for domestic IPO after rejecting KKR bid …

Foxconn ties up with Thailand’s PTT to make electric vehicles

Taiwan’s Foxconn on Monday announced a partnership with Thailand’s state-run energy group PTT PCL to make electric cars in the Southeast Asian country, adding to a string of such deals by the iPhone assembler as it makes forays into the car market. Foxconn, Apple’s main iPhone maker, has expanded its activities in electric vehicles (EVs) over the past year or so, announcing deals with Chinese electric-car maker Byton and automakers… Continue reading Foxconn ties up with Thailand’s PTT to make electric vehicles

Mingdutech nets over $47m and 16 more deal updates from Greater China

ResearchPremium Zhejiang Mingdu Zhikong Technology Co., Ltd, also known as Mingdutech, has gathered over 300 million yuan ($47 million) in a Series B round of financing, per a company statement on Monday.  The current round was led by China Merchants Group’s subsidiary China Merchants Medical and Healthcare Industry Equity Fund. China-Singapore Suzhou Industrial Park Development… Continue reading Mingdutech nets over $47m and 16 more deal updates from Greater China

Softbank may sell $1.5b stake in Paytm, marking its largest exit in India after Flipkart

Paytm is planning an IPO worth around $3 billion, offering SoftBank its largest exit in India after Flipkart. “A window to sell at least one-third of the overall stake on offer in the IPO may be available on a pro-rata basis for the existing investors, including SoftBank. A total of 3-5% stake may be monetized… Continue reading Softbank may sell $1.5b stake in Paytm, marking its largest exit in India after Flipkart

Chinese investment firm V-Capital secures $235m for new RMB fund

M&A and private investment-focused V-Capital, which was incubated by Shenzhen-listed Huaxi Holding in 2015, on Monday announced that it has secured as much as 1.5 billion yuan ($235 million) for a new RMB-denominated fund.  The firm did not specify if the fund had reached the final close.   The fund attracted commitments from a slew… Continue reading Chinese investment firm V-Capital secures $235m for new RMB fund