Author: Deal Street Asia Online News

Saudi PIF appoints Fahd AlSaif as new head of investment strategy

Saudi Arabia’s sovereign wealth fund which manages around $925 billion has appointed a new head of its investment strategy and economic insights division, Fahd AlSaif, the organisation said on Tuesday. The fund, the main vehicle for Crown Prince Mohammed bin Salman’s plans to wean the economy off its oil dependency, has poured hundreds of billions of dollars into projects including NEOM, a massive urban and industrial development… Continue reading Saudi PIF appoints Fahd AlSaif as new head of investment strategy

China electric truck startup Windrose to raise $200m ahead of US IPO

Chinese electric truck startup Windrose is aiming to raise $200 million in its final round of funding in equity investments and debt before it seeks an initial public offering in the United States, a person with direct knowledge of the matter said. The fundraising target, which would help Windrose build overseas assembly plants to serve its clients in Europe and the United States, was doubled in size from… Continue reading China electric truck startup Windrose to raise $200m ahead of US IPO

India Digest: QIA moves court against Byju’s; Glance said to be raising $250m roundGlance is also backed by Peter Thiel’s Mithril Capital and Alphabet…

Byju’s investor Qatar Investment Authority has reportedly approached the Karnataka High Court to block its founder from selling, pledging, or transferring his assets. Separately, Glance is in advanced talks to raise funding round. QIA asks court to block Byju’s personal assets Byju’s backer, the Qatar Investment Authority (QIA), has approached the Karnataka High Court to… Continue reading India Digest: QIA moves court against Byju’s; Glance said to be raising $250m roundGlance is also backed by Peter Thiel’s Mithril Capital and Alphabet…

HK-listed Luye Pharma may secure up to $220m from China’s state-owned fund manager

State-owned Shenzhen Investment Holdings Capital has agreed to invest up to 1.6 billion yuan ($220 million) into a wholly-owned subsidiary of Hong Kong-listed Luye Pharma Group as part of the latter’s plan to boost its oncology drug business.  As part of the three-phased deal, Shenzhen Luye Private Equity Investment Fund will first acquire a 25%… Continue reading HK-listed Luye Pharma may secure up to $220m from China’s state-owned fund manager

Indian FM’s Budget gift for startups: Angel tax abolished, new VC fund for space sectorThe angel tax abolition is a definite game-changer for our entr…

India’s space startups are poised for a liftoff with Finance Minister Nirmala Sitharaman announcing the government’s plan to set up a sector-focused Rs 1,000-crore (about $120 million) venture capital fund. “With our continued emphasis on expanding the space economy by 5 times in the next 10 years, a venture capital fund of Rs 1,000 crore… Continue reading Indian FM’s Budget gift for startups: Angel tax abolished, new VC fund for space sectorThe angel tax abolition is a definite game-changer for our entr…

Nippon Steel to dissolve JV with China’s Baoshan after 20 years

Nippon Steel will dissolve its joint venture with China’s Baoshan Iron & Steel, it said on Tuesday, ending two decades of cooperation when their existing shareholders’ agreement expires at the end of August. Nippon Steel will transfer its 50% stake in the joint venture to Baoshan, it said. In a separate statement, Baoshan said it… Continue reading Nippon Steel to dissolve JV with China’s Baoshan after 20 years

Toyota Motor to launch $5.16b tender offer for own shares

Toyota Motor said on Tuesday it would launch an 807 billion yen ($5.16 billion) tender offer for its own shares. The buyback comes amid a governance push by the Tokyo Stock Exchange that has prompted major companies to unwind cross-shareholdings. The practice of companies holding shares in each other has long been seen as a… Continue reading Toyota Motor to launch $5.16b tender offer for own shares

Indian carrier SpiceJet to raise $360m in latest bid to restore normalcy

India’s SpiceJet said on Tuesday it plans to raise 30 billion rupees (around $360 million) by selling securities, including shares, marking the troubled budget carrier’s latest attempt to shore up funds to restore full operations. The company will issue shares to institutional investors, it said in an exchange filing, without disclosing the price at which… Continue reading Indian carrier SpiceJet to raise $360m in latest bid to restore normalcy