Chinese conglomerate Fosun International Ltd said on Tuesday it has agreed to sell all of its 4.89% stake in Tsingtao Brewery Co Ltd through a share placement, raising HK$4.14 billion ($527.47 million) for general working capital. Fosun’s subsidiaries Fosun Industrial, Fidelidade Companhia de Seguros S.A., and a unit of China Momentum Fund L.P., which is… Continue reading Chinese conglomerate Fosun plans sale of $527m Tsingtao Brewery stake
Author: Deal Street Asia Online News
New PE firm Hildrics Capital seeks up to $183m, sees recovery opportunities in SE Asia …
The partners at Singapore-based Hildrics Capital, who were former corporate bankers at UOB, have set their sights on the recovery play in Southeast Asia, as businesses seek comebacks from the last two years of COVID-driven doldrums. “Recovery is a big theme for us,” said Choo Kee Siong, the investment firm’s founder and CEO. Go to… Continue reading New PE firm Hildrics Capital seeks up to $183m, sees recovery opportunities in SE Asia …
Golden Gate Ventures opens Vietnam offices, founding partner relocates …
Singapore-headquartered venture capital firm Golden Gate Ventures has opened two new offices in Vietnam, and its founding partner Vinnie Lauria has moved to the country’s commercial hub, Ho Chi Minh City, to lead the team in Vietnam. With offices across Singapore, Indonesia and Vietnam, the VC firm sees these three markets as Southeast Asia’s ‘startup… Continue reading Golden Gate Ventures opens Vietnam offices, founding partner relocates …
Abu Dhabi petrochem firm Borouge draws $80b in demand for its IPO
Abu Dhabi-based petrochemicals company Borouge has attracted demand of $80 billion for its initial public offering, two sources told Reuters, as retail investors snapped up shares despite volatile global markets. The company, which is jointly owned by Abu Dhabi National Oil Company and Austria’s Borealis, has attracted orders of $63 billion from institutional investors, said the sources, declining to… Continue reading Abu Dhabi petrochem firm Borouge draws $80b in demand for its IPO
Thailand’s SCI Electric shelves $4m bitcoin mining plans …
The recent crash in bitcoin prices has thrown a spanner in the works of another would-be crypto miner in Thailand. SCI Electric Plc, which had approved an investment of 140 million baht ($4.1 million) in the bitcoin mining business through its subsidiary SCI Venture Company Ltd, has decided to postpone its plans for now. Mining… Continue reading Thailand’s SCI Electric shelves $4m bitcoin mining plans …
GoTo’s losses expand in Q1 2022 even as gross revenue sees 53% growth
Indonesia-listed technology major PT GoTo Gojek Tokopedia (GoTo Group) has reported a wider loss in the first three months of 2022 despite a 53% growth in gross revenue compared with the corresponding period a year earlier, prompting the company to increase its focus on steps to boost margins and cost-cutting. Its losses in the January-March… Continue reading GoTo’s losses expand in Q1 2022 even as gross revenue sees 53% growth
Google backs India’s ShareChat in $300m funding round, startup valued at $5b …
The parent company of India’s ShareChat has raised nearly $300 million in fresh funding from Alphabet Inc’s Google, media giant Times Group and Singapore’s Temasek Holdings, valuing the social media firm at nearly $5 billion, two sources involved in the deal discussions told Reuters. A deal is set to be announced as early as next week, the… Continue reading Google backs India’s ShareChat in $300m funding round, startup valued at $5b …
Seek Pet raises $75m and 21 more deal updates from Greater China worth $263m
Seek Pet, a Chinese provider of pet food, has raised nearly 500 million yuan ($75 million) in a pre-IPO funding round to build new factories and expand its R&D and product testing facilities. The new round was led by private equity (PE) firm Boyu Capital and Confitop Capital, an investment platform backed by Shanghai’s state-owned… Continue reading Seek Pet raises $75m and 21 more deal updates from Greater China worth $263m
India: IFC proposes $100m debt investment in Manappuram Finance
The International Finance Corporation (IFC), a part of the World Bank Group, has proposed a debt investment of up to $100 million in Manappuram Finance Limited (MFL), it said in a disclosure. IFC will invest via three-year non-convertible debentures (NCDs) to be issued by MFL. The investment will help MFL support underserved individuals in the… Continue reading India: IFC proposes $100m debt investment in Manappuram Finance
India’s Tata Motors looks to buy Ford plant in Gujarat for electric vehicle push
Indian automaker Tata Motors Ltd has signed an agreement to potentially buy a Ford Motor manufacturing facility in the western state of Gujarat as it looks to ramp up its production of electric vehicles. The owner of Jaguar Land Rover already dominates India‘s fledgling electric car market, which the government is trying to grow by offering companies billions of dollars in incentives. The memorandum of understanding announced on Monday… Continue reading India’s Tata Motors looks to buy Ford plant in Gujarat for electric vehicle push