Author: Deal Street Asia Online News

Thai Life locks in major cornerstone investors for $1b IPO

Thai Life Insurance’s initial public offering (IPO), aiming to raise up to $1.04 billion, will be sold to 18 domestic and international cornerstone investors. These investors will account for about 50% of the IPO, the largest in Southeast Asia so far in 2022, according to a term sheet seen by Reuters. The bookbuilding process will open Thursday. Thai Life did not immediately respond to… Continue reading Thai Life locks in major cornerstone investors for $1b IPO

SG’s Panthera Growth Partners secures first close of $250m Fund 2Panthera expects to fully close the fund by end-2022.

Singapore-based Panthera Growth Partners has secured over 50% in capital commitments to hit the first close for its $250-million second fund. The venture investor has secured capital from institutional investors, including fund-of-funds and global asset managers from India, Europe and the US. According to Panthera’s founder and managing partner, Shilpa Kulkarni, its smallest limited partner… Continue reading SG’s Panthera Growth Partners secures first close of $250m Fund 2Panthera expects to fully close the fund by end-2022.

US pension fund NYSCRF commits $405m to B Capital, and Israel’s S Capital

The New York State Common Retirement Fund (NYSCRF) has committed a total of $405 million to funds managed by the Singapore- and US-based venture capital firm B Capital Group and Israeli venture investor S Capital. In its May transaction report, NYSCRF disclosed that it committed $350 million to B Capital Group Global Growth III and… Continue reading US pension fund NYSCRF commits $405m to B Capital, and Israel’s S Capital

Singtel says no plans to list Australian wireless carrier unit Optus

Singapore Telecommunications said it does not plan to list its Australian unit Optus, refuting reports that it was working on an initial public offering valuing the wireless carrier at between A$8 billion ($5.54 billion) and A$12 billion. Singtel on Monday called the news articles published by Australian media “highly speculative”, saying it regularly reviews its strategy… Continue reading Singtel says no plans to list Australian wireless carrier unit Optus

Vietnam’s Loship said to seek debt financing amid harsh equity funding climate

Vietnam-based one-hour-delivery e-commerce startup Loship is understood to be seeking debt financing instead of going ahead with its Series C equity funding round, as the current fundraising climate is not as rosy as it was, DealStreetAsia has learnt. In October 2021, DealStreetAsia had reported that Loship was in early talks with Japan’s Daiwa Securities Group… Continue reading Vietnam’s Loship said to seek debt financing amid harsh equity funding climate

Bukalapak expects revenue to rise 61% this year, but losses could widen

Indonesian e-commerce major Bukalapak is eyeing revenues of 2.7-3 trillion rupiah (roughly $180-200 million) this year, an increase of up to 61% from 1.87 trillion rupiah recorded last year, according to the company’s presentation to the Indonesia Stock Exchange (IDX). The targeted revenue is in line with analysts’ forecast of a 58% growth in revenues… Continue reading Bukalapak expects revenue to rise 61% this year, but losses could widen

Dubai’s TECOM Group says it has raised $460m via IPOThe shares are expected to list on or around July 5.

Dubai business park operator TECOM Group said on Monday it had raised 1.7 billion dirhams ($463 million) from investors via its initial public offering. The company, which is owned by the investment vehicle of Dubai’s ruler, announced its plan on June 8 to sell a 12.5% stake by offering 625 million ordinary shares in its IPO. TECOM set… Continue reading Dubai’s TECOM Group says it has raised $460m via IPOThe shares are expected to list on or around July 5.

Indian real estate investment startup PropShare raises $47m in fresh fundingWestBridge Capital and Pravega Ventures have invested in the Series B roun…

Real estate investment startup PropShare has raised $47 million (around Rs 367 crore) from WestBridge Capital and Pravega Ventures to ramp up hiring, strengthen technology and offer more asset classes for investments on its platform. According to media reports, the company’s valuation stands at $170 million (around Rs 1,300 crore) after this Series B round.… Continue reading Indian real estate investment startup PropShare raises $47m in fresh fundingWestBridge Capital and Pravega Ventures have invested in the Series B roun…

China regulator proposes new rules on anti-monopoly governanceThe country prepares to implement a revised anti-monopoly law in August

China‘s market regulator published on Monday draft rules and provisions aimed at improving its ability to govern antitrust behaviour, as the country prepares to implement a revised anti–monopoly law in August. The State Administration for Market Regulation (SAMR) said it wanted to seek public comment for its proposals, which range from descriptions on what deals could be perceived as monopolistic to regulations… Continue reading China regulator proposes new rules on anti-monopoly governanceThe country prepares to implement a revised anti-monopoly law in August