Axiata Group Berhad (Axiata) and Telenor Asia Pte Ltd (Telenor) on Wednesday announced the completion of the merger of Malaysian cellular arm Celcom Axiata Bhd with Norwegian Telenor Group’s unit Digi.Com, making the merged entity one of the largest technology companies on Bursa Malaysia. Axiata and Telenor will both hold equal ownership in Celcom Digi… Continue reading Axiata, Telenor complete merger of Celcom and Digi
Author: Deal Street Asia Online News
BYD races to the top of China’s car market in NovemberTesla’s retail sales in China also nearly doubled in November from a year earlier.
BYD was the top-selling car brand in China in the first four weeks of November, brokerage data showed, outperforming the Volkswagen brand in a reversal that highlights the pressure on legacy brands in the world’s largest auto market. Tesla’s retail sales in China also nearly doubled in November, from a year earlier, after the U.S. automaker… Continue reading BYD races to the top of China’s car market in NovemberTesla’s retail sales in China also nearly doubled in November from a year earlier.
Hong Kong’s IPO market seen bouncing back as 100 firms line up for share sale
Hong Kong has more than a hundred applicants in the pipeline for initial public offerings (IPOs) and is eyeing more companies and investors from markets including the Middle-East and Southeast Asia, the chairman of the city’s bourse operator said. China’s economic slowdown, a sweeping regulatory crackdown that has tightened scrutiny over companies’ fundraising outside mainland… Continue reading Hong Kong’s IPO market seen bouncing back as 100 firms line up for share sale
KKR closes tender offer to buy Japan’s Hitachi Transport System
Global private equity (PE) powerhouse KKR has closed its deal for a 100% stake in Japanese multinational conglomerate Hitachi’s logistics subsidiary Hitachi Transport System (HTS), as per a company announcement on Wednesday. In addition to the shares acquired during the cash tender offer worth 51.11%, KKR will buy the remaining shares of HTS through a… Continue reading KKR closes tender offer to buy Japan’s Hitachi Transport System
This the time to build for the future, VCs tell crypto startupsBlockchain firms must build good teams, products, and MVPs to attract investors, say VC…
As funding activities slow down amid a so-called crypto winter, digital asset startups must use up the valuable time to build their products, according to a panel of crypto-focused venture capitalists. “The markets are not hot right now, so startups have got time to build,” said Crypto.com’s partner Jon Russell, who pointed out that the… Continue reading This the time to build for the future, VCs tell crypto startupsBlockchain firms must build good teams, products, and MVPs to attract investors, say VC…
US crypto broker Genesis says it is working to avoid filing for bankruptcy
US cryptocurrency brokerage Genesis said it is seeking to avoid bankruptcy after Bloomberg news reported on Tuesday that creditors to the firm are in discussions with restructuring lawyers to prevent insolvency. Citing people with knowledge of the situation, the report said law firms Proskauer Rose and Kirkland & Ellis are being consulted by creditor groups, who are… Continue reading US crypto broker Genesis says it is working to avoid filing for bankruptcy
India’s Tata Group reportedly in talks to buy Apple vendor Wistron’s India facility
Tata Group is in talks to buy Wistron Corp’s only manufacturing facility in India for up to 50 billion rupees ($612.6 million), the Economic Times business daily reported Wednesday, citing people familiar with the discussions. If it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with… Continue reading India’s Tata Group reportedly in talks to buy Apple vendor Wistron’s India facility
Singapore’s Temasek holds internal review of $275m FTX-related loss
Singapore’s Deputy Prime Minister Lawrence Wong said on Wednesday that Temasek Holdings has initiated an internal review of its investment in the now-bankrupt FTX crypto exchange, which resulted in a write-down of $275 million. Wong, who is also finance minister, said the loss did not mean state investor Temasek’s governance system was not working and… Continue reading Singapore’s Temasek holds internal review of $275m FTX-related loss
Chinese developer Shimao plans private placement as Beijing lifts equity sales ban
Chinese property developer Shimao Group Holdings Ltd plans a private placement of shares, becoming the second player in the cash-squeezed sector to tap equity fundraising options just a day after Beijing lifted a ban on such deals. Shares of Shimao, a mid-sized developer, surged in Shanghai by their daily upward limit, or 9.9%, on Wednesday… Continue reading Chinese developer Shimao plans private placement as Beijing lifts equity sales ban
Asia Partners targets $600m for second growth fund: ReportThe firm has reportedly hit the first close of the vehicle at around $350 million.
Southeast Asia’s technology-focused private equity firm Asia Partners is said to be seeking $600 million for its second fund, Mergermarket reported. The firm has reportedly hit the first close of the vehicle at around $350 million. DealStreetAsia has reached out to Asia Partners for comment. The firm filed to raise Asia Partners II in April,… Continue reading Asia Partners targets $600m for second growth fund: ReportThe firm has reportedly hit the first close of the vehicle at around $350 million.