World Bank Group member International Finance Corporation (IFC) is considering a quasi-equity investment of 460 billion dongs (about $20 million) in Vietnamese convenience store chain operator GS 25 Ltd (GS25 VN). In a disclosure, IFC said the proposed investment will support GS25 VN’s expansion of new convenience stores in Vietnam in the 2022-2025 period. Go… Continue reading IFC weighs $20m quasi-equity investment in Vietnamese retailer GS25 VN
Author: Deal Street Asia Online News
Thai unicorn Line Man Wongnai in talks to buy Foodpanda’s local unit: reportFoodpanda Thailand was initially valued at $100m in the talks, Bloomberg r…
Thailand-based food delivery platform and unicorn Line Man Wongnai is said to be in talks to take over the local unit of Foodpanda, Bloomberg reported on Tuesday citing sources familiar with the discussions. The report added that Foodpanda Thailand, owned by Delivery Hero SE, was previously valued at $100 million but the potential deal size… Continue reading Thai unicorn Line Man Wongnai in talks to buy Foodpanda’s local unit: reportFoodpanda Thailand was initially valued at $100m in the talks, Bloomberg r…
China said to be working on $143b package for local chip firms in the face of US curbsThe incentives will come as subsidies and tax credits.
China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self-sufficiency in chips and to counter US moves aimed at slowing its technological advances. Beijing plans to roll out what will be one of its biggest fiscal incentive packages over… Continue reading China said to be working on $143b package for local chip firms in the face of US curbsThe incentives will come as subsidies and tax credits.
Abu Dhabi’s ADNOC invites banks to pitch for IPO of its gas business unit
Abu Dhabi National Oil Company (ADNOC) has invited investment banks to pitch for roles in the initial public offering (IPO) of its gas business next year, two sources familiar with the matter told Reuters. Bankers familiar with the matter said a request was sent to a select number of banks last week for proposals to… Continue reading Abu Dhabi’s ADNOC invites banks to pitch for IPO of its gas business unit
Geely’s premium electric car brand Zeekr files for IPO in the US
China’s Geely Automobile Holdings Ltd said on Tuesday its electric car brand, Zeekr, had confidentially filed for a U.S. initial public offering, in what would be the first major Chinese listing in the country in nearly two years. Zeekr filed with U.S regulators last week, without providing any details on the size of its IPO or about… Continue reading Geely’s premium electric car brand Zeekr files for IPO in the US
India’s Bumble Bee raises $37m to manufacture autonomous air taxis
Air mobility startup Bumble Bee Flights on Tuesday said it has raised $37 million (Rs 300 crore) from UK-based technology conglomerate SRAM & MRAM Technologies and Resources Ltd. The Bangalore-based firm was founded earlier this year by serial entrepreneur Arjun Das, who previously co-founded the video analytics platform Nymo Technologies. With the new funds, the… Continue reading India’s Bumble Bee raises $37m to manufacture autonomous air taxis
E-commerce firm JD fires 200 employees in Indonesia amid exit speculations
JD.ID, the Indonesia arm of Chinese e-commerce giant JD, has let go of 30% of its workforce, or close to 200 employees, the company said on Tuesday. “This downsizing exercise is necessary to respond to the current challenges and rapid changes in business,” said Setya Yudha Indraswara, JD.ID head of corporate communications and public affairs.… Continue reading E-commerce firm JD fires 200 employees in Indonesia amid exit speculations
Affirma Capital cuts first deal in Japan, invests $38.5m in tax-free retail chain JTCThe investment comes with a call option to purchase the founder’s…
Singapore-based private equity firm Affirma Capital has invested $38.5 million in Japan-based, Korea-listed tax-free retail chain operator JTC Inc for a 30.1% stake. Affirma has also bought a call option to purchase the founder’s stake of 22.3%, it said in a statement on Tuesday. The call option can be exercised between April 2023 and October… Continue reading Affirma Capital cuts first deal in Japan, invests $38.5m in tax-free retail chain JTCThe investment comes with a call option to purchase the founder’s…
Hong Kong’s PAG closes APAC’s largest private credit fund at $2.6b
Hong Kong-headquartered alternative investment firm PAG has closed its fifth pan-Asian direct lending fund worth $2.6 billion, according to a company announcement on Tuesday. The fund, dubbed PAG Loan Fund V, is the largest of its kind in Asia-Pacific to date, per the statement. It received capital commitments from 20 institutional investors, including sovereign wealth… Continue reading Hong Kong’s PAG closes APAC’s largest private credit fund at $2.6b
Readline snaps $43m and 47 other Greater China deals worth nearly $1.75b
Readline, a Shenzhen-based bio-pharmaceutical firm, has secured 300 million yuan ($43 million) in a Series B round led by CoStone Capital, the firm announced via its WeChat channel on Friday. The round, participated by institutional investors such as Jinhang Group, Gree Electric, Xinshang Capital, Oriental Fortune Capital, Green Pine Capital Partners, and Hunan Caixin Investment… Continue reading Readline snaps $43m and 47 other Greater China deals worth nearly $1.75b