The share price of Thai renewables firm Energy Absolute fell nearly 30% for a second successive day on Wednesday, after company executives were hit with fraud allegations last week. EA share prices fell 29% against a benchmark gain of 0.22%. The executives have denied wrongdoing and the company has since announced changes to its board.… Continue reading Thai Energy Absolute shares fall nearly 30% for second successive day
Author: Deal Street Asia Online News
Germany’s Allianz plans to buy majority stake in Singapore’s Income Insurance
German insurer Allianz said on Wednesday that it was planning to buy a majority stake in Singapore’s Income Insurance for about $1.6 billion to strengthen its foothold in Asia. The offer by Allianz, one of Europe’s most valuable financial firms in terms of its market capitalisation, for a stake of at least 51% is its… Continue reading Germany’s Allianz plans to buy majority stake in Singapore’s Income Insurance
Keber Technology’s pre-IPO round and 27 other Greater China deals worth over $245m
Intelligent manufacturing company Keber Technology has raised “several hundreds of millions yuan” in its pre-IPO funding round, roping in carmaker SAIC Motor-affiliated Shang Qi Capital as one of the participating investors, per a release on July 8. Go to Source
‘I’m for TikTok’, says Trump as potential US ban looms
Republican presidential candidate Donald Trump said he supports TikTok even as a potential ban looms if Chinese-parent company ByteDance fails to divest the short video app’s US assets. “I’m for TikTok because you need competition. If you don’t have TikTok, you have Facebook and Instagram,” Trump told Bloomberg BusinessWeek in an interview posted Tuesday. Trump… Continue reading ‘I’m for TikTok’, says Trump as potential US ban looms
India’s Ola Electric likely to set valuation at around $4.5b for IPOOla Electric’s last funding round in September, led by Singapore’s Temasek, valued…
SoftBank-backed Indian e-scooter maker Ola Electric is likely to value the company at around $4.5 billion for its upcoming initial public offering (IPO), around 16-20% lower than at its last funding round, two sources with direct knowledge of the matter said. Ola Electric did not immediately respond to a request for comment. The Indian markets… Continue reading India’s Ola Electric likely to set valuation at around $4.5b for IPOOla Electric’s last funding round in September, led by Singapore’s Temasek, valued…
People Digest: Sea’s MariBank names Natalia Goh as CEO; Partners Group appoints Michael Marquardt to executive team
Singapore-based digital lender MariBank has named Natalia Goh as CEO while Partners Group has appointed Michael Marquardt to the firm’s executive team. Sea’s digital bank names Natalia Goh as CEO NYSE-listed Southeast Asian tech major Sea Ltd has named Natalia Goh as chief executive officer of its Singapore-based digital lender MariBank. Goh, who previously served… Continue reading People Digest: Sea’s MariBank names Natalia Goh as CEO; Partners Group appoints Michael Marquardt to executive team
HSBC launches new climate-focused infrastructure finance unit
Britain’s HSBC has set up a new unit to tap deals in infrastructure finance and project finance linked to the world’s shift to a lower-carbon economy, and hired a former UK politician to lead it, a senior banking executive told Reuters. HSBC Infrastructure Finance (HIF) will target “a meaningful share” of both in key markets and incorporate parts… Continue reading HSBC launches new climate-focused infrastructure finance unit
Chinese state-owned brokerage to ramp up i-banking business in SE Asia
A unit of state-owned brokerage China Galaxy Securities (CGS) plans to expand its investment banking team in Southeast Asia to 50 people next year from 30 now, a senior executive said, betting on a rise in dealmaking in the region amid a sluggish market at home. CGS International Securities is also in the process of… Continue reading Chinese state-owned brokerage to ramp up i-banking business in SE Asia
PwC may halve financial services audit staff in China amid client exodus: report
PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken business prospects. The move follows Chinese regulators’ scrutiny of PwC this year for its role as the auditor of troubled property giant China Evergrande… Continue reading PwC may halve financial services audit staff in China amid client exodus: report
Hann Resorts plans up to $342m Philippines IPO next yearHann Resorts has a target of listing on the Philippine bourse early next year.
The Philippines’ Hann Resorts is planning an initial public offering (IPO) worth up to 20 billion pesos ($342.2 million), the gaming regulator said on Tuesday, as the integrated casino-resort operator seeks to cash in on the booming gambling sector. The deal could be the largest maiden share sale in the Philippines since MREIT Inc’s 15… Continue reading Hann Resorts plans up to $342m Philippines IPO next yearHann Resorts has a target of listing on the Philippine bourse early next year.