India’s sovereign wealth fund National Investment and Infrastructure Fund (NIIF) announced that it has invested $300 million or Rs 2,2,50 crore for a 22.5% stake in Hindustan Ports Private Limited (HPPL), the wholly owned subsidiary of DP World. The investment marks the single largest transaction by NIIF’s master fund and takes the vehicle’s total investment… Continue reading NIIF invests $300m in DP World’s India unit Hindustan Ports
Author: Deal Street Asia Online News
Global e-commerce specialist Ascential acquires SG firm Intrepid for $250m
Ascential plc, a specialist information, analytics and e-commerce optimisation company, has acquired Singapore-headquartered Intrepid Group Asia (Intrepid), which helps brands accelerate their omni-channel e-commerce presence, per an announcement. The total deal size is $250 million. However, the acquisition is for an initial cash consideration of $57 million, plus deferred consideration payable over four years, contingent… Continue reading Global e-commerce specialist Ascential acquires SG firm Intrepid for $250m
China’s Tencent, Ant Group ink pact to stop secondary trading of NFTsChina does not have clear rules around NFTs.
Chinese tech giants including Tencent Holdings and Ant Group have signed a pact to stop the secondary trading of digital collectibles and “self-regulate” their activities in the market, Chinese state media reported on Thursday. The companies were among 30 firms and institutes that have agreed to the “Digital Collectible Industry Self-Discipline Development Initiative” in which they will help… Continue reading China’s Tencent, Ant Group ink pact to stop secondary trading of NFTsChina does not have clear rules around NFTs.
US-based LaSalle raises $1.29b so far for latest Asia buyout fund
US-based real estate investment manager LaSalle Investment Management has made another close for its latest Asia-focused, closed-end private equity real estate fund at $1.29 billion, according to its latest filing. The US Securities and Exchange Commission (SEC) filing did not specify the target for the fund, LaSalle Asia Opportunity VI, but one of its limited… Continue reading US-based LaSalle raises $1.29b so far for latest Asia buyout fund
Go-Ventures said to be closing $200m second fund in Q3
Gojek’s corporate venture arm Go-Ventures is on track to close its $200-million second fund by the third quarter this year, according to sources close to the matter. Gojek will contribute 20% of the corpus as an anchor limited partner (LP), with the remaining to be raised from external investors. Go-Ventures followed a similar arrangement for… Continue reading Go-Ventures said to be closing $200m second fund in Q3
Bukalapak sees hope as Indonesians may seek smaller products to beat inflation
Teddy Oetomo, president of the major e-commerce company Bukalapak, sees a silver lining in rising prices as consumers may seek out products in smaller volumes sold by Indonesia’s ubiquitous small and midsize family-owned warung retail shops. “We see the possibility that if there is inflation, there will be downtrading from consumers,” Oetomo said on Wednesday, citing the example of changes… Continue reading Bukalapak sees hope as Indonesians may seek smaller products to beat inflation
Tencent-backed retailer Miniso turns to Hong Kong in hedge against US delisting
Miniso Group Holding Ltd., a New York-listed Chinese take on Japanese retailer Muji, will go ahead with a second listing in Hong Kong next month, as more Chinese companies seek IPOs in the Asian tech hub to hedge against getting booted from US exchanges. Miniso aims to sell 41.1 million ordinary shares for as much… Continue reading Tencent-backed retailer Miniso turns to Hong Kong in hedge against US delisting
Bukalapak-backer Endeavor Catalyst closes Fund IV at $292m, exceeds targetEndeavor Catalyst Fund IV is Endeavor’s largest vehicle to date.
The US-based high-impact entrepreneurship organisation Endeavor has secured the final closing of its Endeavor Catalyst Fund IV at $292 million, above the initial target of $200-250 million. Endeavor Catalyst is a global co-investment fund under Endeavor. Go to Source
With IPOs on ice, banks’ stock offering fees plummet
Recession fears and Russia’s invasion of Ukraine sent a chill through equity capital markets (ECM) in the second quarter, depriving bankers of lucrative fees for arranging stock sales such as initial public offerings (IPOs). The slowdown drove global investment banks’ fees from ECM deals down 74% to $2.6 billion, according to Refinitiv data, dragged by the worst quarter… Continue reading With IPOs on ice, banks’ stock offering fees plummet
Malaysia to announce plan for equity sale in 5G agency next week
Malaysia is expected to announce a plan for the sale of a 70% equity stake in the state-run 5G agency to six companies by next week, Communications and Multimedia Minister Annuar Musa said on Thursday. The Malaysian government had aimed to wrap up discussions on the stake sale in Digital Nasional Berhad by the end of June.… Continue reading Malaysia to announce plan for equity sale in 5G agency next week