Author: Deal Street Asia Online News

Shein keeps option to list in Hong Kong as backup despite London IPO plans: FTHuman rights groups in the UK have raised concerns over the fast-fashion…

Online fast-fashion group Shein is keeping alive a fallback option to list in Hong Kong despite filing for a London listing, the Financial Times reported on Friday, citing people familiar with the situation. The company confidentially filed papers with Britain’s markets regulator in June, two sources told Reuters on Monday, kicking off the process for… Continue reading Shein keeps option to list in Hong Kong as backup despite London IPO plans: FTHuman rights groups in the UK have raised concerns over the fast-fashion…

EU regulators ask Temu, Shein to provide info on content rules compliance by July 12

Chinese fast-fashion e-commerce retailer Temu and China-founded peer Shein were ordered by EU tech regulators to provide details on how they comply with EU online content rules by July 12 following complaints by consumer bodies. Both companies are subject to tougher requirements under the Digital Services Act such as doing more to tackle illegal and harmful content… Continue reading EU regulators ask Temu, Shein to provide info on content rules compliance by July 12

Aramco to buy 10% stake in Renault-Geely thermal engines JV

Oil producer Saudi Aramco will buy a 10% stake in a thermal engines joint venture between French carmaker Renault and Chinese automaker Geely, the companies said on Friday, valuing the business at 7.40 billion euros ($7.93 billion). Geely and Renault will own around 45% each of the powertrain venture, called Horse Powertrain, which will supply gasoline engines,… Continue reading Aramco to buy 10% stake in Renault-Geely thermal engines JV

Renault-backed BeyonCa plans to build Hong Kong’s first EVs

Premium EV maker BeyonCa, backed by Renault and Dongfeng Motor, said on Friday it plans to set up a final assembly plant and its international headquarters in Hong Kong, developing the territory’s first car brand. Following the one-two punch that the 2019 protests and pandemic delivered to Hong Kong’s economy, the city has sought to… Continue reading Renault-backed BeyonCa plans to build Hong Kong’s first EVs

Dealmakers optimistic about global M&A rebound despite sluggish growth

Global mergers and acquisitions (M&A) activity grew at a sluggish pace in the second quarter, yet many dealmakers are upbeat, forecasting transactions will pick up in the second half of 2024. Stubbornly high interest rates, a hostile regulatory environment and a frothy stock market that has made valuations pricey weighed on dealmaking in the last… Continue reading Dealmakers optimistic about global M&A rebound despite sluggish growth

Naver-backed Webtoon Entertainment’s shares jump in Nasdaq debutThe company had raised $315 million, selling 15 million shares in its IPO.

Shares of online comics platform Webtoon Entertainment rose as much as 14.3% above their initial public offering price in their Nasdaq debut on Thursday. The stock opened at $21.30, giving the company a valuation of $2.71 billion, and traded as high as $24. It was last trading at $22.86 just after midday. The company, backed… Continue reading Naver-backed Webtoon Entertainment’s shares jump in Nasdaq debutThe company had raised $315 million, selling 15 million shares in its IPO.

Finnest invests $145m in Kitchens@ and other India deals worth $82m

Bengaluru-based cloud kitchen startup Kitchens@ has secured $145 million in fresh funding from London-based private equity firm Finnest. The board at Kitchens@ has passed a special resolution to issue 40,00,000 equity shares at Rs 3,000 each to raise the aforementioned amount, Entrackr reported citing the company’s filing sourced from the Registrar of Companies. This is… Continue reading Finnest invests $145m in Kitchens@ and other India deals worth $82m

Greater China Digest: Animoca Brands mulls 2025 listing; SPAC AA Mission files for IPO

Gaming software firm Animoca Brands is considering a listing in Hong Kong or the Middle East as early as 2025 while AA Mission Acquisition, an Asia-focused SPAC firm, has filed to raise $300 million in an initial public offering. Animoca Brands eyes 2025 IPO  Hong Kong-headquartered gaming software firm and Web3 investment powerhouse Animoca Brands is… Continue reading Greater China Digest: Animoca Brands mulls 2025 listing; SPAC AA Mission files for IPO