Indonesian e-commerce player PT Global Digital Niaga Tbk, known as Blibli, is targeting to raise 8.17 trillion rupiah ($523 million) in a domestic initial public offering (IPO) at a valuation of as much as $3.5 billion. According to the prospectus filed by the company with the Indonesia Stock Exchange (IDX) on Monday, Blibli will sell… Continue reading Indonesia’s Blibli seeks to raise $523m in domestic IPO
Author: Deal Street Asia Online News
Asia-focused SPAC TenX Keane raises $60m in US IPO
TenX Keane Acquisition, a China-based, Asia-focused blank cheque company, has raised $60 million in its initial public offering (IPO) in the US, its amended filing with the Securities and Exchange Commission (SEC) showed. The special purpose acquisition company (SPAC) offered 6 million units at $10 each, with every unit consisting of one share of common… Continue reading Asia-focused SPAC TenX Keane raises $60m in US IPO
China mulls easing short-term trading rules for foreign mutual funds
China‘s securities regulator is considering easing rules for overseas mutual funds when short–term trading in China-listed A-shares, in a bid to attract foreign investment, the Shanghai Securities News reported on Sunday. Currently, funds holding 5% or more of a China-listed company must give up gains from short–term trading – defined as selling shares within six months of purchase, or buying shares within six months of sales, according to China‘s securities law. However, regulators determine short–term trading based on holdings… Continue reading China mulls easing short-term trading rules for foreign mutual funds
Private credit reaches ‘tipping point’ in Asia as growth in western economies stallsThe private credit market is expected to grow from an estimated $1…
Private credit may have reached a tipping point in Asia as alternative asset managers flock to this fast-growing asset class, snatching shares from traditional banks and providing much-needed bloodline to the region’s COVID-ridden businesses. During a panel discussion at DealStreetAsia’s Asia PE-VC Summit 2022 in Singapore, seasoned alternative asset investors pointed to “a sea change”… Continue reading Private credit reaches ‘tipping point’ in Asia as growth in western economies stallsThe private credit market is expected to grow from an estimated $1…
The LP View: India’s medium-term growth outlook remains robust, investments to grow
Even as fears of an economic slowdown are looming large on India, the International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, is bullish on the country’s growth prospects in the medium term. “India’s medium-term growth outlook remains robust, and investments are expected to grow… the country has a large… Continue reading The LP View: India’s medium-term growth outlook remains robust, investments to grow
Honda’s US dealers keen to be part of Sony Honda venture’s EV launch plans
A new joint venture formed by Japan’s Sony Group Corp and Honda Motor plans to introduce a premium electric vehicle later this decade, and the automaker’s U.S. dealers are anxious to be part of the sales process. Sony Honda Mobility said on Thursday it was aiming to deliver the first of the unnamed EV by 2026, starting in the United States, and will sell them online. The success of Tesla… Continue reading Honda’s US dealers keen to be part of Sony Honda venture’s EV launch plans
Vietnam’s VinFast recalls a third of its sold EVs to replace sensors
Vietnam’s VinFast said on Saturday it would recall 730 of its model VF e34 electric cars (EVs), which are available only on the domestic market, to make checks and replace their side crash sensors. VinFast, which began operations in 2019, is a unit of Vietnam’s biggest conglomerate Vingroup and has sold 2,208 EVs in total since its launch late last year. “The side crash sensor of the airbag system equipped… Continue reading Vietnam’s VinFast recalls a third of its sold EVs to replace sensors
S Korean President calls for quick resumption of popular messaging, portal services
South Korean President Yoon Suk-yeol on Sunday called for swift measures to resume all services offered by Kakao Corp and Naver Corp, a day after a fire at a data centre damaged their servers and caused outages. Service disruptions, some of which continued into Sunday, hit some of the country’s most-used apps and websites, including Kakao messenger and the… Continue reading S Korean President calls for quick resumption of popular messaging, portal services
People Digest: KoinWorks names CFO; Meta’s top product design exec resignsKoinWorks has named former ABN AMRO Bank executive Frank Van Deur as its CFO…
Indonesia-based fintech company KoinWorks has named former ABN AMRO Bank executive Frank Van Deur as chief financial officer. Meanwhile, Meta’s VP of product design and responsible innovation announced her departure from the company. KoinWorks names banking expert as CFO KoinWorks, an Indonesia-based fintech company, has named Frank Van Deur as its chief financial officer to… Continue reading People Digest: KoinWorks names CFO; Meta’s top product design exec resignsKoinWorks has named former ABN AMRO Bank executive Frank Van Deur as its CFO…
Texas Teachers’ Pension to cut China target allocation
The $184 billion Texas Teachers‘ pension fund is set to settle on a new emerging markets stock benchmark, a move that will cut its exposure to Chinese stocks by half. Teacher Retirement System (TRS) of Texas received an approval in September to move to a new benchmark which has a proportionate mix of two MSCI emerging markets indexes —… Continue reading Texas Teachers’ Pension to cut China target allocation