Indonesia-listed miner PT Merdeka Copper Gold Tbk has secured shareholders’ approval to issue as much as 2.29 billion new shares, representing 10% of the company’s paid-up capital, for a private placement offering within the next two years, a top executive said. Merdeka Copper Gold president director Albert Saputro said the shareholders have also agreed to… Continue reading Saratoga-backed Merdeka Copper bags shareholders’ nod for private placement issue …
Author: Deal Street Asia Online News
Chinese EV maker Nio to make self-developed battery packs from 2024 …
Chinese electric-car maker Nio said that in 2024 it will start making high-voltage battery packs that it has developed itself, as part of a drive to improve profitability and competitiveness to take on rivals such as Tesla. Nio, plans to start producing an 800-volt battery pack in the second half of 2024, its chairman William Li told… Continue reading Chinese EV maker Nio to make self-developed battery packs from 2024 …
Investors are both eager and uneasy as China signals end of crackdown on tech sector
As Chinese authorities signal that a two-year crackdown on the domestic technology sector is over, global investors are relieved and yet loath to take the government at its word. Foreign investors have been returning to mainland markets since May as its stringent COVID-19 lockdowns ease and after pledges from China’s highest policymakers, including Vice Premier… Continue reading Investors are both eager and uneasy as China signals end of crackdown on tech sector
Rising interest rates spell trouble for Buy Now Pay Later business model
Reduced consumer spending, rising interest rates and trickier credit conditions spell trouble for Buy Now Pay Later lenders, raising the prospect of consolidation in the sector. Buy Now Pay Later (BNPL) firms have created one of the fastest-growing segments in consumer finance, with transaction volumes hitting $120 billion in 2021 up from just $33 billion in 2019, according to… Continue reading Rising interest rates spell trouble for Buy Now Pay Later business model
GoTo aims to review spending, optimise expenses to extend runway
Indonesia-listed technology group PT GoTo Gojek Tokopedia (GoTo) is reviewing its spending as part of efforts to extend its runway, according to a top executive, as the group prepares to leave its cash-burning days behind. GoTo President Patrick Cao, in a public expose on Friday, said the technology group has a “very clear path to… Continue reading GoTo aims to review spending, optimise expenses to extend runway
China’s GF Xinde Investment sets up RMB fund to invest $450m in new energy sector …
GF Xinde Investment, the wholly-owned private equity (PE) investment unit of Chinese investment bank GF Securities, has set up a new RMB-denominated fund to invest 3 billion yuan (almost $450 million) in the new energy industry. The new fund, which recently completed its registration with the Asset Management Association of China (AMAC), counts the country’s… Continue reading China’s GF Xinde Investment sets up RMB fund to invest $450m in new energy sector …
DCP said to have held first close of second China fund at $2.5b
DCP Capital, a private equity (PE) firm that has backed some of China’s biggest companies, including Ping An Insurance and Mengniu Dairy, has reportedly held the first closing of its second China fund at $2.5 billion. With a total fundraising target of $3 billion, DCP Capital Partners II reached the first closing with capital commitments… Continue reading DCP said to have held first close of second China fund at $2.5b
Coinbase may invest in Thailand’s Zipmex after takeover talks fall through …
Coinbase Global Inc has reportedly signed an agreement to invest in Thai crypto trading platform Zipmex, after takeover talks did not come through, per a report on The Block. The report cited sources saying the US-based crypto exchange had intended to acquire Zipmex, but finally ended up with a strategic investment, for which a term… Continue reading Coinbase may invest in Thailand’s Zipmex after takeover talks fall through …
SEA Digest: Orderly Network raises $20m; Metrodata forms JV with CacaFly
Decentralised exchange protocol Orderly Network has raised new funding while Indonesian tech firm Metrodata has formed a new JV with Taiwanese tech firm CacaFly. Orderly Network completes $20m financing round Orderly Network, a permissionless decentralised exchange protocol built on NEAR, raised $20 million in a strategic financing round from various investors, including Three Arrows Capital,… Continue reading SEA Digest: Orderly Network raises $20m; Metrodata forms JV with CacaFly
India Digest: ADIA to buy 20% in IIFL Finance; RIL-Apollo in race to buy Boots pharma
Abu Dhabi Investment Authority (ADIA) has agreed to invest $283 million in non-banking financial company IIFL Finance Limited. In another development, a consortium of Reliance Industries Ltd (RIL) and buyout firm Apollo Global Management Inc has joined the race to acquire Walgreens Boots Alliance Inc’s Boots pharmacy unit in the UK. ADIA to invest $283m… Continue reading India Digest: ADIA to buy 20% in IIFL Finance; RIL-Apollo in race to buy Boots pharma