QuantumPharm, a Chinese artificial intelligence (AI) drug researcher backed by Tencent Holdings and HongShan, is eyeing an initial public offering (IPO) in Hong Kong to raise up to HK$1.13 billion ($144.7 million) to fuel its global expansion. Shenzhen-headquartered QuantumPharm, also known as XtalPi, is poised to complete the first IPO under the city’s new listing… Continue reading AI drug researcher QuantumPharm eyes $145m HK IPO to fuel global expansion
Author: Deal Street Asia Online News
Indian aluminium product maker Novelis postpones US IPOThe world’s largest recycler of aluminium was targeting a valuation of up to $12.6 billion in i…
Aluminum products maker Novelis, owned by Indian billionaire Kumar Mangalam Birla’s Hindalco Industries, on Tuesday postponed its initial public offering citing market conditions. “Novelis will continue to evaluate the timing of the offering in the future,” it said in a statement, without giving further details. The world’s largest recycler of aluminum, whose customers include Coca-Cola, Ford and Jaguar LandRover, said last month… Continue reading Indian aluminium product maker Novelis postpones US IPOThe world’s largest recycler of aluminium was targeting a valuation of up to $12.6 billion in i…
Australia moves to rein in BNPL with customer credit check law
The Australian government on Wednesday introduced legislation that would require buy–now–pay–later (BNPL) firms to run credit checks on borrowers, aiming to regulate the rapidly growing sector popular among youth like other consumer credit products. BNPL companies typically offer on-the-spot interest-free short-term loans with minimal credit checks that spread payments over weeks or months and are largely used by cash-strapped people taking on debt, sometimes more… Continue reading Australia moves to rein in BNPL with customer credit check law
Southeast Asian PE firm Navis backs two hospitals in Cambodia
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SG data platform Atlan’s losses widen in 2023 despite revenue jump
Singapore-based data and AI governance platform Atlan saw losses swell 7.5x even as revenue increased nearly two-fold during the financial year ended March 31, 2023, according to filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). Go to Source
India Deal Review: At $1.9b, startup fundraising in May hits nearly two-year high
After encountering periods of uncertainty and slowdown, startup fundraising in India hit its highest in nearly two years at $1.9 billion in May as a result of a spurt in megadeals, according to proprietary data compiled by DealStreetAsia. The big-ticket deals had dried up over the last seven quarters owing to a prolonged funding winter.… Continue reading India Deal Review: At $1.9b, startup fundraising in May hits nearly two-year high
Vietnam B2B e-commerce startup Vigo Retail raises funding from Argor Capital, others
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SEA Digest: HitPay secures MPI licence in SG; Telkomsel, AppWorks unveil 9th cohort
HitPay has secured a major payment institution licence from Singapore’s central bank, while seven Indonesian startups have been chosen to take part in Telkomsel’s accelerator program. HitPay secures payment institution licence HitPay, a commerce and payment processing startup for SMEs, on Tuesday announced that it has secured a major payment institution (MPI) licence from the… Continue reading SEA Digest: HitPay secures MPI licence in SG; Telkomsel, AppWorks unveil 9th cohort
Blackstone bets on UK rental homes in $740m dealLarge investors are increasingly putting cash into rental homes which have fared better than other com…
U.S. private equity giant Blackstone has agreed to buy 1,750 new homes to rent from British housebuilder Vistry, as institutional investors bet on a shortage of rental properties. Large investors are increasingly putting cash into rental homes which have fared better than other commercial property sectors such as offices and retail, through a period of soaring borrowing costs and changing working patterns. Vistry… Continue reading Blackstone bets on UK rental homes in $740m dealLarge investors are increasingly putting cash into rental homes which have fared better than other com…
Saudi’s PIF likely to raise $830m from debt sale
Saudi Arabia’s sovereign wealth fund, The Public Investment Fund, expects to raise 650 million pounds ($829.53 million) from the sale of a dual-tranche bond, fixed income news service IFR reported on Tuesday. PIF, which manages more than $700 billion in assets, has set the spread on the 5-year note tranche at 115 basis points (bps) over UK gilts, and at 125 bps over for the 15-year… Continue reading Saudi’s PIF likely to raise $830m from debt sale