The Asian Development Bank (ADB) has invested $12.2 million in Indonesian medical equipment firm PT Jayamas Medica Industri, known as OneMed, to support its expansion. According to ADB’s press statement on Wednesday, the global bank has subscribed 1 billion shares worth $12.2 million in OneMed’s IPO on the local stock exchange. The company will use… Continue reading ADB invests $12m in Indonesian medical equipment firm OneMed
Author: Deal Street Asia Online News
Chinese smart glasses maker Rokid snaps almost $53m in four days
Augmented reality (AR) glasses maker Rokid has notched a total of 384 million yuan ($52.9 million) within four days from a slew of investors, the firm announced via its WeChat channel, without divulging details of the funding stage. The Temasek-backed firm first announced that it has bagged 125 million yuan ($17.2 million) from Yuhang Financial… Continue reading Chinese smart glasses maker Rokid snaps almost $53m in four days
PH telecom giant Globe raises $293m through rights offerAyala and Singtel are Globe’s principal shareholders.
Philippine telecom giant and digital solutions platform Globe has raised approximately 17 billion pesos (about $293 million) from its stock rights offering (SRO) that received shareholder support, the company announced. The Ayala-led telco formally listed 10,119,047 common shares newly issued to participating shareholders on the Philippine Stock Exchange on October 28 at 1,680 pesos per… Continue reading PH telecom giant Globe raises $293m through rights offerAyala and Singtel are Globe’s principal shareholders.
BRI Ventures secures first close of Kiqani fund, and final close of Sembrani at over $25m
BRI Ventures (BVI), the corporate venture capital arm of the Indonesian state-owned lender Bank Rakyat Indonesia (BRI), has secured the first close of its Sembrani Kiqani fund in June 2022. It also plans to fully close the vehicle by end-2022, BVI’s founding CEO Nicko Widjaja told DealStreetAsia. The size of the final close is expected… Continue reading BRI Ventures secures first close of Kiqani fund, and final close of Sembrani at over $25m
Indian PE firm Motilal Oswal Alternates in talks to top up in VVDN Technologies
India-focused fund manager Motilal Oswal Alternates, which is already an investor in Gurugram-based product engineering firm VVDN Technologies, is in talks to pump additional capital into the company, multiple sources familiar with the matter told DealStreetAsia. Negotiations are gaining pace as the company looks to raise funding in the range of $125-150 million, the sources… Continue reading Indian PE firm Motilal Oswal Alternates in talks to top up in VVDN Technologies
Binance plans to buy rival FTX’s non-US unit in latest crypto bailout
Crypto giant Binance signed a non-binding agreement on Tuesday to buy FTX’s non-US unit to help cover a “liquidity crunch” at the rival exchange, marking an abrupt change in fortune for the digital currency billionaire and FTX CEO Sam Bankman-Fried. The surprising deal between high-profile rivals Bankman-Fried and Binance CEO Changpeng Zhao raised fresh concerns about the risks investors… Continue reading Binance plans to buy rival FTX’s non-US unit in latest crypto bailout
US pension major CalPERS commits $282m to Sequoia China’s four funds
The California Public Employees’ Retirement System (CalPERS), the largest pension fund in the US, has committed $282 million in total to Sequoia Capital China’s four new China venture capital funds, according to a disclosure. Separately, the US pension fund also made an additional $1.26 billion commitment to Golden Reef Infrastructure Trust, a fund managed by QIC,… Continue reading US pension major CalPERS commits $282m to Sequoia China’s four funds
German ministry said to favour blocking Chinese takeover of Elmos’ chip productionElmos said the German government may block the sale to competitor Si…
Germany’s economy ministry has recommended to the cabinet that the government block the Chinese takeover of Elmos‘ chip factory, saying it would pose a threat to national security, ministry sources said on Tuesday. Milder measures, such as an injunction, are not suitable for addressing the identified dangers, added the sources. Elmos said on Monday that the German… Continue reading German ministry said to favour blocking Chinese takeover of Elmos’ chip productionElmos said the German government may block the sale to competitor Si…
Dubai’s Palm Island developer bags $4.6b funding for new waterfront projects
Dubai state developer Nakheel has secured 17 billion dirhams ($4.63 billion) in financing as the group behind the palm-shaped islands accelerates plans for new waterfront projects including Dubai Islands amid a red hot property market. Nakheel said in a statement on Tuesday that the transaction comprised of 11 billion dirhams in refinancing and additional funds of 6 billion… Continue reading Dubai’s Palm Island developer bags $4.6b funding for new waterfront projects
Xiaomi backs Chinese auto electronics maker Atech’s $69m Series C roundThe deal marks Xiaomi’s latest investment in the auto sector.
Xiaomi has invested in auto electronics maker Atech Automotive, in the Chinese smartphone maker’s latest bet on the country’s auto industry after venturing into electric vehicle (EV) production last year. Atech Automotive, a nearly-two-decade-old Chinese manufacturer of auto electronics used in intelligent and autonomous driving vehicles, announced on Tuesday the completion of its Series C… Continue reading Xiaomi backs Chinese auto electronics maker Atech’s $69m Series C roundThe deal marks Xiaomi’s latest investment in the auto sector.