Author: Deal Street Asia Online News

Shares of Kokusai Electric fall 9% in Tokyo following KKR share sale report

Shares in Kokusai Electric fell 9% in early Tokyo trading on Wednesday, a day after Reuters reported private equity firm KKR plans to cut its stake in the Japanese chip equipment manufacturer. KKR plans to sell roughly half of its 43% stake in Kokusai to investors, Reuters reported late on Tuesday, cashing in after a… Continue reading Shares of Kokusai Electric fall 9% in Tokyo following KKR share sale report

Two Chinese companies sink 15% in HKEX debut as mood remains negative

Two Chinese companies sunk by 15% in their Hong Kong initial public offerings (IPO) debuts on Tuesday, while a small Chinese petroleum refiner soared nearly 30% as sentiment towards new share sales in the city remains volatile. Chenqi Technology opened down 14.3% and Shanghai Voicecomm sunk 15.4% in early trade on Tuesday. Ruichang International, which… Continue reading Two Chinese companies sink 15% in HKEX debut as mood remains negative

US development bank DFC approves projects worth $230m across Asia in June quarter

The US development bank International Development Finance Corporation (DFC) has approved 42 new projects totalling more than $5.1 billion in the quarter ended June 30, including projects worth at least $230 million across Asia. The deals, which may be subject to additional approvals including Congressional notification, involved debt financing and equity investments, according to a… Continue reading US development bank DFC approves projects worth $230m across Asia in June quarter

Shein pledges to invest $271m in UK and Europe ahead of potential London IPO

Fast fashion retailer Shein said it would invest 250 million euros ($271 million) over five years in the UK and Europe as the company battles criticism of its model based around flying cheap clothes and accessories from factories in China direct to shoppers worldwide. Shein, which is preparing for a possible London listing, already sources some clothes… Continue reading Shein pledges to invest $271m in UK and Europe ahead of potential London IPO

Temasek doesn’t rule out fossil fuel investments on road to net zero

Singapore state fund Temasek will consider investing in fossil fuel and other carbon-intensive projects if they make environmental as well as commercial sense, it said on Tuesday, even as it aims to cut portfolio emissions to net zero by 2050. “One of the things we realised when we set this original (net-zero) goal for ourselves, it does… Continue reading Temasek doesn’t rule out fossil fuel investments on road to net zero

India’s Paytm gets government panel nod to invest in payments arm: report

India’s beleaguered Paytm has secured approval from a government panel that oversees investments linked to China to invest 500 million rupees ($6 million) in a key subsidiary, three sources with direct knowledge of the matter said. The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment… Continue reading India’s Paytm gets government panel nod to invest in payments arm: report

Indonesian wealth fund INA’s investments doubled in value in 2023

Sovereign wealth fund Indonesia Investment Authority (INA) more than doubled its investments in 2023 despite political and economic uncertainties throughout the year, according to its annual report. The report noted that INA and its co-investors disbursed $1.9 billion in 2023—up 152.6% year-on-year. In 2023, INA made six investments, with a total of nine projects, across… Continue reading Indonesian wealth fund INA’s investments doubled in value in 2023

Chinese NEV operator DST seals Series E+ round, ropes in Malaysia’s TTV as investorThe latest tranche brings DST’s overall Series E round to about $10…

China’s DST has completed its Series E+ round of financing adding Twin Towers Ventures (TTV), the corporate venture capital (CVC) arm of Malaysian state energy giant PETRONAS, to its list of blue-chip shareholders. DST, a provider of intelligent operation solutions for new energy logistics vehicles, announced on Tuesday that it raised this extension round from… Continue reading Chinese NEV operator DST seals Series E+ round, ropes in Malaysia’s TTV as investorThe latest tranche brings DST’s overall Series E round to about $10…