Author: Deal Street Asia Online News

Saudi staffing company SMASCO sets final IPO priceThe growth of IPOs in the region comes as part of broad plans to deepen capital markets, grow the pr…

Saudi Arabian staffing company SMASCO announced its final IPO price at 7.50 riyals per share via the Saudi Exchange on Sunday. The company aims to raise as much as 900 million riyals ($240 million) in its initial public offering on Riyadh’s main bourse, it said earlier this month. SMASCO plans to offer 120 million shares… Continue reading Saudi staffing company SMASCO sets final IPO priceThe growth of IPOs in the region comes as part of broad plans to deepen capital markets, grow the pr…

Musk launches Starlink space satellite services in Indonesia for health sector

Elon Musk and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX’s satellite internet service for the nation’s health sector on Sunday, aiming to improve access in remote parts of the sprawling archipelago. Musk, the billionaire head of SpaceX and Tesla, arrived on the Indonesian resort island of Bali by private jet before attending the launch… Continue reading Musk launches Starlink space satellite services in Indonesia for health sector

Didi co-founder Liu steps down after decade as president & board director

Didi Global Inc’s co–founder Jean Liu has stepped down from her roles as president and board director of China’s biggest ride–hailing firm to take on a new role, according to an internal company memo. Didi, which is seen as China’s answer to Uber but has faced prolonged regulatory scrutiny, will no longer have a position of president, it said in the memo seen by Reuters.… Continue reading Didi co-founder Liu steps down after decade as president & board director

Goldman Sachs to double down on PE credit lines as dealmaking picks upPrivate equity deal activity is expected to pick up due to record-high fundraisi…

U.S. investment bank Goldman Sachs GS.Nis muscling into the lending market for private equity and asset managers, planning an overseas expansion as it helps fill a void left by turmoil at regional banks and the sale of Credit Suisse. The Wall Street bank and rivals JPMorgan Chase and PNC Financial Services are stepping up in this $800 billion to $1 trillion market as private equity deal activity is expected to pick up due to record-high fund-raising. Such loans are… Continue reading Goldman Sachs to double down on PE credit lines as dealmaking picks upPrivate equity deal activity is expected to pick up due to record-high fundraisi…

India: Wipro COO Amit Choudhary quits, business head Jain to take over

India’s Wipro said on Friday that its chief operating officer Amit Choudhary is stepping down, with Sanjeev Jain, current global head of business operations named as his successor with immediate effect. This is the second-level senior exit at the firm in less than a week. Choudhary is leaving the company to pursue opportunities outside the organization, and May 31 will be his last day at the firm, it said in… Continue reading India: Wipro COO Amit Choudhary quits, business head Jain to take over

Abu Dhabi fund Mubadala’s AUM rose 9.5% in 2023 to touch $302bMubadala Investment Company is the second-biggest state fund in Abu Dhabi.

Abu Dhabi sovereign wealth fund Mubadala’s assets under management rose 9.5% last year to 1.11 trillion dirhams ($302.2 billion), it reported on Friday. Mubadala Investment Company is the second-biggest state fund in Abu Dhabi, the capital of the United Arab Emirates (UAE), behind Abu Dhabi Investment Authority (ADIA). “Mubadala built on its role as a global investor through opportunistic capital deployment in North America, Asia and Europe in sectors key… Continue reading Abu Dhabi fund Mubadala’s AUM rose 9.5% in 2023 to touch $302bMubadala Investment Company is the second-biggest state fund in Abu Dhabi.