Chinese tech giant Tencent Holdings and state-owned telecommunications firm China Unicom have received regulatory approval to set up a so-called “mixed ownership” company, a public document showed on Wednesday. China has been accelerating its push for mixed-ownership reforms in an effort to boost the competitiveness of state firms. It was not immediately clear what the planned company would do. Shares in China Unicom surged 10% in Shanghai, forcing a temporary suspension of trade. Trade… Continue reading Tencent, China Unicom gain nod to set up ‘mixed ownership’ company
Author: Deal Street Asia Online News
Canva-backer Blackbird raises Australia’s biggest VC fund at $640m
Australian venture capital firm Blackbird announced that it raised A$1 billion (about $640 million) for a new fund that will invest in general companies in Australia and New Zealand. The venture investor, which counts Canva and robotics firm Zoox in its portfolio, said the fifth fund is Australia’s largest fund to date and doubles the… Continue reading Canva-backer Blackbird raises Australia’s biggest VC fund at $640m
India Digest: Lotus Herbals picks up 20% in Yogic Secrets; Roha Dyechem buys Saraf Foods
Lotus Herbals Pvt Ltd has bought a 20% stake in nutraceutical products startup Yogic Secrets Healthcare. Separately, Roha Dyechem, a manufacturer of synthetic and natural colours, has acquired Saraf Foods Ltd, a freeze-dried agricultural product company. Lotus Herbals invests in Yogic Secrets Lotus Herbals Pvt Ltd said it has bought a 20% stake in nutraceutical… Continue reading India Digest: Lotus Herbals picks up 20% in Yogic Secrets; Roha Dyechem buys Saraf Foods
Temasek backs Australian recycling startup Samsara Eco’s $34.7m funding roundThe company is looking to build its first plastic recycling facility in M…
Australian recycling tech startup Samsara Eco has announced raising A$54 million (about $34.7 million) in a Series A funding round backed by Singapore state investment firm Temasek Holdings. The round was also participated by a host of investors including Breakthrough Victoria, Assembly Climate Capital, DCVC, and INP Capital. Existing investors, such as deep-tech fund Main… Continue reading Temasek backs Australian recycling startup Samsara Eco’s $34.7m funding roundThe company is looking to build its first plastic recycling facility in M…
Indonesia’s SIRCLO finalising Series C funding round, eyes profit in a year
Indonesian e-commerce enabler SIRCLO is finalising its Series C funding round despite tighter liquidity in the market and an apparent end to the e-commerce boom witnessed during the COVID-19 pandemic, even as the company remains firmly focused on its profitability goals. “We are aiming for profitability in the next 12 months and have the option… Continue reading Indonesia’s SIRCLO finalising Series C funding round, eyes profit in a year
Many Indonesian digital lenders swing to profit zone but is the trend sustainable?
Many of Indonesia’s listed digital lenders — Bank Jago, Allo Bank, Bank Raya, and Bank Neo Commerce — have posted positive bottom lines in the latest earnings season on the back of strong growth in lending and deposits. However, the question of whether they have permanently turned the corner remains open to debate. Go to… Continue reading Many Indonesian digital lenders swing to profit zone but is the trend sustainable?
Fubon Life disposes shares in funds of Tiger Global, AEA Investors, and 21 others
Fubon Life Insurance, the insurance unit of Taiwanese financial conglomerate Fubon Financial Holdings, has disposed off its holdings in funds managed by Tiger Global Management, AEA Investors, and 21 other private and hedge funds. In regulatory filings, the insurer disclosed that it sold 18,068 shares in a fund managed by dealmaker Tiger Global Management for… Continue reading Fubon Life disposes shares in funds of Tiger Global, AEA Investors, and 21 others
Shareholders in Dubai’s Empower to offer more stake in IPOThe company has increased the size of the stake being offered to 15% from 10%.
Shareholders in Dubai’s Emirates Central Cooling Systems Corporation (Empower) have increased the size of the stake being offered in an initial public offering to 15% from 10%, citing strong demand for the shares. Empower said in a statement its two shareholders Dubai Electricity and Water Authority DEWAA.DU and Emirates Power Investment had exercised their right to increase the number of ordinary shares being offered in the listing to… Continue reading Shareholders in Dubai’s Empower to offer more stake in IPOThe company has increased the size of the stake being offered to 15% from 10%.
HK stock exchange to adjust fees to boost turnover amid weak trading
Hong Kong stock exchange said on Tuesday it will change its securities transaction fee structure for investors to cut costs and boost sluggish trading amid volatile markets in the Asian financial hub. The trading tariff of HK$0.5 ($0.064) on each transaction will be removed from Jan 1, Hong Kong Exchanges and Clearing Ltd said, adding ad valorem fee, a tax derived from the value of a transaction, will be… Continue reading HK stock exchange to adjust fees to boost turnover amid weak trading
IFC, CapitaLand Ascott Trust jointly launch $111m ESG-linked bondsThe proceeds will be used to refinance existing borrowings and decarbonise CLAS’ ser…
Asia-Pacific’s largest lodging trust, CapitaLand Ascott Trust (CLAS), which is managed by Singapore-listed CapitaLand Investment, has launched JPY 16.5 billion ($111 million) sustainability-linked bonds in the global hospitality sector in partnership with International Finance Corporation (IFC). Under its S$2-billion ($1.4 billion) multicurrency debt issuance programme, the instrument has a 1.05% fixed coupon rate per annum… Continue reading IFC, CapitaLand Ascott Trust jointly launch $111m ESG-linked bondsThe proceeds will be used to refinance existing borrowings and decarbonise CLAS’ ser…