Author: Deal Street Asia Online News

Asia Digest: Elevate raises $5m; Kraken eyes $100m pre-IPO funding

London and Dubai-based fintech company Elevate has secured $5 million while US-based crypto exchange Kraken is considering raising a pre-IPO funding round. Elevate raises $5m pre-Series A Elevate, a fintech company based in London and Dubai, has secured $5 million in a pre-Series A funding round from Dubai-based Negma Ventures. The fresh round will be… Continue reading Asia Digest: Elevate raises $5m; Kraken eyes $100m pre-IPO funding

Saudi Arabia set to raise $11.2b from Aramco’s secondary offeringThe Saudi government is selling a roughly 0.64% stake in Aramco.

Saudi Arabia is poised to raise more than $11.2 billion from its secondary offering of oil giant Aramco‘s shares, after pricing them towards the lower end of a price range at 27.25 riyals ($7.27), people familiar with the matter told Reuters on Friday. Aramco‘s book was covered four to five times near the bottom of the… Continue reading Saudi Arabia set to raise $11.2b from Aramco’s secondary offeringThe Saudi government is selling a roughly 0.64% stake in Aramco.

China, Pakistan set up $2.76b fund to invest in new energy, modern agriculture and more

State-backed entities in China and Pakistan are setting up a 20-billion-yuan ($2.76 billion) fund-of-funds (FOF) to invest in areas such as new energy and modern agriculture as the two countries look to revive economic and trade ties. The National Bank of Pakistan (NBP), a Pakistani government-owned multinational commercial bank affiliated with the country’s central bank,… Continue reading China, Pakistan set up $2.76b fund to invest in new energy, modern agriculture and more

Platinum Equity-backed intimate apparel company Hop Lun buys HK’s P.H. GarmentsHop Lun had acquired US swimwear maker Rainbow West Apparel in Dec.

American private equity firm Platinum Equity’s portfolio company Hop Lun, one of the world’s largest lingerie manufacturers, has acquired Hong Kong-based P.H. Garments, according to a company statement on Thursday.  No financial details of the acquisition were disclosed. Founded in 1988, P.H. Garments is a private-label manufacturer of intimate apparel, shapewear, and activewear for world-renowned… Continue reading Platinum Equity-backed intimate apparel company Hop Lun buys HK’s P.H. GarmentsHop Lun had acquired US swimwear maker Rainbow West Apparel in Dec.

Australia’s Guzman y Gomez increases IPO size by 38% to $335.1m

Australian fast food chain Guzman y Gomez (GYG) has upsized its initial public offering (IPO) by nearly 38% from the original target to stand at A$335.1 million ($335.1 million), it said in a statement on Friday. The increase came after Mexican food-themed GYG received orders from Capital Research Global Investors to buy into the IPO,… Continue reading Australia’s Guzman y Gomez increases IPO size by 38% to $335.1m

Hero MotoCorp invests $14.9m more in Ather Energy and India deals worth $103m

Continue reading with Data Vantage Venture-backed company data in SE Asia, India, Pakistan, Bangladesh. Instant investment updates and valuations. Tailored search, 3 monthly reports. Industry-trusted platform. Learn more about DATA VANTAGE Printed by Unregistered user on Fri, 07 Jun 2024 07:59:39 GMT Go to Source

Japan’s MUFG, SMFG weigh selling Toyota shares worth $8.5b: report

Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group are considering selling 1.32 trillion yen ($8.5 billion) worth of strategic shareholdings in Toyota Motor, Bloomberg News reported on Friday, citing sources. The sale would come amid a wave of stock buybacks, unwinding of cross-shareholdings, and management buyouts in Japan as the Tokyo Stock Exchange adds… Continue reading Japan’s MUFG, SMFG weigh selling Toyota shares worth $8.5b: report

South Korean startup Wrtn raises $18m in funding amid AI raceIt attracted interest from investors looking to bet on the consumer-side of the AI boom.

South Korean artificial intelligence startup Wrtn Technologies raised 25 billion won ($18.33 million) in its latest round of funding as investors flock to AI bets and Seoul backs the development of next-generation AI technologies. Investors such as the Asian arm of Silicon Valley-based venture capital firm BlueRun Ventures and the corporate venture capital arm of… Continue reading South Korean startup Wrtn raises $18m in funding amid AI raceIt attracted interest from investors looking to bet on the consumer-side of the AI boom.