Author: Deal Street Asia Online News

Hargreaves Lansdown rejects $5.94b takeover bid led by CVC Advisers, ADIA

Hargreaves Lansdown has rejected a 4.67 billion pound ($5.94 billion) takeover proposal from a consortium led by CVC Advisers and the Abu Dhabi Investment Authority (ADIA), after the board of the investment platform said it “substantially” undervalued its prospects. In a statement, Hargreaves Lansdown said its board had unanimously rejected the offer, the latest in a series of… Continue reading Hargreaves Lansdown rejects $5.94b takeover bid led by CVC Advisers, ADIA

Global infra investor I Squared to invest $5b in Asia over next three years

Global infrastructure investor I Squared Capital is looking to invest $5 billion in the Asia Pacific from 2025 to 2027 as it seeks to tap into fast-growing sectors, including renewable energy, in the region, its senior partner said. I Squared, which manages over $38 billion of assets globally, will deploy the money from its $15… Continue reading Global infra investor I Squared to invest $5b in Asia over next three years

SG warehouse automation startup XSQUARE raises Series A funding led by WavemakerThe $7.8m funding round was also backed by SEEDS Capital and Goldbell …

Singapore-based warehouse automation solutions provider XSQUARE has announced raising S$10.5 million (about $7.8 million) in its Series A funding round anchored by early-stage venture investor Wavemaker Partners. The funding round was also backed by Enterprise Singapore’s investment arm SEEDS Capital and commercial and industrial vehicles distributor Goldbell Corporation. XSQUARE said it will use the fresh… Continue reading SG warehouse automation startup XSQUARE raises Series A funding led by WavemakerThe $7.8m funding round was also backed by SEEDS Capital and Goldbell …

OYO shelves IPO plans again, in talks to raise funds at 75% valuation cutOYO is said to be in talks with InCred to raise $80-90m at a valuation of $3-…

Indian budget hotel chain OYO has withdrawn its initial public offering (IPO) from the Securities and Exchange Board of India (SEBI) for the second time and is reportedly in talks to raise to $90 million, down 75% from its peak valuation. The SoftBank-backed company had initially filed to go public in October 2021 for about… Continue reading OYO shelves IPO plans again, in talks to raise funds at 75% valuation cutOYO is said to be in talks with InCred to raise $80-90m at a valuation of $3-…

Rakuten, eBay team up to test US market for used Japanese fashion goods

Japan’s Rakuten Group is partnering with eBay to test U.S. demand for used Japanese fashion goods, made all the cheaper with the yen trading near a 34-year low. The tie-up, which started on May 8 with just seven vendors on Rakuten‘s second-hand goods unit Rakuma, aims to capitalise on the currency effect and also a move toward bargain… Continue reading Rakuten, eBay team up to test US market for used Japanese fashion goods

iFlytek enters China’s AI language model price war

Artificial intelligence (AI) firm iFlytek on Wednesday entered a brewing price war between some of China’s biggest tech companies, after it made some versions of its “Spark” large-language model (LLM) free or five times cheaper than similar products from competitors. The move comes a day after Chinese tech giants Alibaba and Baidu slashed prices of their LLMs… Continue reading iFlytek enters China’s AI language model price war

KKR, Blackstone in race for Advent-owned Bharat Serums & Vaccines: ReportAdvent had initially acquired a 74% stake in Bharat Serums for around $500 mi…

The sale process for Bharat Serums & Vaccines Ltd, owned by private equity firm Advent International, has evinced interest from a bunch of global private equity funds including KKR, EQT, Blackstone, Bain Capital, Carlyle, Partners Group, and Permira as well as domestic drugmaker Mankind Pharma, Moneycontrol reported on Wednesday. Incorporated in 1971, Bharat Serums &… Continue reading KKR, Blackstone in race for Advent-owned Bharat Serums & Vaccines: ReportAdvent had initially acquired a 74% stake in Bharat Serums for around $500 mi…

China Digest: PopChill closes $3.1m round; HKMA extends term of deputy chief

Luxury resale marketplace PopChill has closed its Series Pre-A+ round at $3.1 million. Separately, Hong Kong’s de facto central bank has extended the term of its deputy chief executive Arthur Yuen for two years. PopChill raises $3.1m, may expand to SG PopChill, a luxury resale marketplace operating in Taiwan and Hong Kong, announced on Wednesday… Continue reading China Digest: PopChill closes $3.1m round; HKMA extends term of deputy chief