Author: Deal Street Asia Online News

Bursa Malaysia wants to loosen local institutions’ hold on stocks to attract foreign investorsPension and sovereign wealth funds are sitting on huge b…

Malaysia‘s stock exchange is looking to loosen the grip of large domestic investors on the market to encourage more trading and attract foreign investors to the best performing bourse in Southeast Asia. Kuala Lumpur’s $262 billion benchmark index of 30 of the largest companies has risen 15% in 2024 and is set for its strongest yearly performance in… Continue reading Bursa Malaysia wants to loosen local institutions’ hold on stocks to attract foreign investorsPension and sovereign wealth funds are sitting on huge b…

SEA Digest: Malaysia’s Bateriku.com raises funds; SCI Ecommerce explores IPO in SGBateriku.com raised the funds from KWAP, Gobi Partners and others

Malaysian roadside assistance solutions provider Bateriku.com has closed $7.4 million in a Series B round, while Singapore-based cross-border e-commerce enabler SCI Ecommerce is said to be exploring an IPO in Singapore as soon as mid-2025. Malaysia’s Bateriku.com bags $7.4m Malaysian roadside assistance solutions provider Bateriku.com has closed $7.4 million in its Series B round. The… Continue reading SEA Digest: Malaysia’s Bateriku.com raises funds; SCI Ecommerce explores IPO in SGBateriku.com raised the funds from KWAP, Gobi Partners and others

India Digest: Blacksoil, Caspian Debt to merge; Centre for Sight inks pact; Pharmeasy investor cuts valuationInvestor Janus Henderson has estimated th…

BlackSoil Capital and Caspian Impact Investments (Debt) have signed an agreement to merge while Centre for Sight has inked a partnership with  Laxmi Eye Hospital. Separately, PharmEasy’s investor Janus Henderson has slashed the valuation of the online pharmacy. NBFCs Blacksoil and Caspian Debt to merge Indian Non-Banking Financial Companies (NBFCs) – BlackSoil Capital and Caspian… Continue reading India Digest: Blacksoil, Caspian Debt to merge; Centre for Sight inks pact; Pharmeasy investor cuts valuationInvestor Janus Henderson has estimated th…

GoTo to retire Vietnamese operations as part of focused growth strategyGoTo’s presence is now limited to home country Indonesia and Singapore.

Indonesia-listed tech giant PT GoTo Gojek Tokopedia Tbk (GoTo) has decided to terminate its Vietnamese operations from Sep 16, 2024, according to an announcement on Wednesday. The move is part of the company’s plan to focus on areas and geographies with higher sustainable growth potential, which will ultimately help GoTo meet its 2024 adjusted EBITDA… Continue reading GoTo to retire Vietnamese operations as part of focused growth strategyGoTo’s presence is now limited to home country Indonesia and Singapore.

SEA Digest: Raisewell Ventures launches; Leo Capital hits first close of Nordic FundRaisewell Ventures will focus on the US and SE Asia.

Raisewell Ventures, a VC fund focusing on the US and Southeast Asia, has announced its official launch, while Singapore-based VC firm Leo Capital has secured the first close of its 25 million euros ($27.6 million) Nordic Fund. Raisewell Ventures officially launches Raisewell Ventures, a newly established venture capital fund, has announced its official launch. With… Continue reading SEA Digest: Raisewell Ventures launches; Leo Capital hits first close of Nordic FundRaisewell Ventures will focus on the US and SE Asia.

SoftBank-backed OfBusiness plans up to $1b India IPO in H2 2025SoftBank and Tiger Global have a roughly 15% stake, while Alpha Wave Global holds 18% i…

SoftBank-backed OfBusiness, an Indian shopping website that offers raw materials to businesses, is planning an Indian stock market offering worth up to $1 billion and is close to appointing bankers, a top executive told Reuters on Tuesday. The company is in active talks with Bank of America, Citi, JP Morgan and Morgan Stanley to manage the… Continue reading SoftBank-backed OfBusiness plans up to $1b India IPO in H2 2025SoftBank and Tiger Global have a roughly 15% stake, while Alpha Wave Global holds 18% i…

Bain makes $4.1b offer to counter KKR’s Fuji Soft takeover bid: NikkeiThe offer is 5% higher than KKR’s bid.

US buyout fund Bain Capital has made a counter-offer to buy Japanese software developer Fuji Soft for about 600 billion yen ($4.1 billion), or around 5% higher than private equity firm KKR’s bid, the Nikkei newspaper reported on Tuesday. Bain is believed to have proposed a price of around 9,200 to 9,300 yen for each… Continue reading Bain makes $4.1b offer to counter KKR’s Fuji Soft takeover bid: NikkeiThe offer is 5% higher than KKR’s bid.

Greater China Digest: Vistra buys HK’s Sertus; Calastone expands Taiwan presenceCalastone was bought by The Carlyle Group in Oct 2020.

Business services firm Vistra has acquired Hong Kong-based corporate services provider Sertus, while Carlyle-owned funds distributor Calastone is expanding its Taiwan team.  Vistra acquires HK’s Sertus Business services firm Vistra Global Incorporation (Vistra GI) has acquired Hong Kong-based Sertus, a company incorporation and corporate services provider.  The acquisition helps deepen Vistra GI’s capabilities in the… Continue reading Greater China Digest: Vistra buys HK’s Sertus; Calastone expands Taiwan presenceCalastone was bought by The Carlyle Group in Oct 2020.

China’s Infinigence AI bags $70m in Series A fundingThe proceeds will fund Infinigence AI in talent acquisition and tech R&D.

Artificial intelligence (AI) infrastructure developer Infinigence AI has raised almost 500 million yuan ($70.2 million) in a Series A round of financing to bring its total fundraising to nearly 1 billion yuan ($140.5 million) just 16 months after its inception. China-based Infinigence AI, which grew out of the Electronics Engineering Department at Tsinghua University, closed… Continue reading China’s Infinigence AI bags $70m in Series A fundingThe proceeds will fund Infinigence AI in talent acquisition and tech R&D.