Chinese ride-hailing giant Didi Global will delist from the New York Stock Exchange, after a majority of the company’s shareholders voted in favor of the plan, putting to rest a year-long clash with Beijing over its U.S. stock market listing. In an extraordinary general meeting (EGM) held on Monday, 96.26% of shareholders who were present… Continue reading Majority shareholders vote for delisting of Chinese ride-hailer Didi from NYSE
Author: Deal Street Asia Online News
Mirae Asset invests $15m as Singapore’s NextBillion.ai raises $21m in Series B …
Singapore-based NextBillion.ai on Monday announced it has raised $21 million in a Series B funding round led by global investment firm Mirae Asset Capital. The financing was joined by Lightspeed India, Microsoft’s venture fund M12, and Alpha Wave Global. The Series B comprises $18.75 million in equity funding, show NextBillion.ai’s filings with Singapore’s Accounting and… Continue reading Mirae Asset invests $15m as Singapore’s NextBillion.ai raises $21m in Series B …
China’s Jinke Smart Services halts trading ahead of M&A announcement
Chinese property management firm Jinke Smart Services Group Co said on Monday its Hong Kong-listed shares were halted from trading pending an announcement related to mergers and acquisitions. The trading halt followed reports last week that parent company Jinke Property Group – China’s 21st largest developer by sales – might not be able to refinance… Continue reading China’s Jinke Smart Services halts trading ahead of M&A announcement
Metaverse app BUD raises $37m in second funding round in just 3 months …
BUD, a virtual platform that allows users to create and share 3D interactive content with friends, has raised $36.8 million in its second funding round in three months, led by Sequoia Capital India. It had raised a $15-million Series A round in February, and with the latest new infusion, BUD’s total financing has reached over… Continue reading Metaverse app BUD raises $37m in second funding round in just 3 months …
Philippine tech retailer Upson International files for up to $103m IPO
Upson International Corp (UIC), the largest retailer of personal computers and information technology products in the Philippines, said on Monday it has filed for an IPO of up to 5.4 billion pesos ($103.81 million). UIC plans to offer up to 986.8 million shares, including an over-allotment option of up to 98.7 million shares, at a maximum price of 5.50 pesos ($0.11) each. In Philippine filings, prices of initial public offerings (IPOs) are typically set above… Continue reading Philippine tech retailer Upson International files for up to $103m IPO
Vantage Point: GoTo’s capital raising plan may take pressure off near-term US listing
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Japan’s Mitsui, Nomura to acquire Australian forestry asset manager New Forests
Japan’s diversified conglomerate Mitsui & Co and financial services group Nomura Holdings have agreed to acquire Australia-headquartered nature-based real asset manager New Forests. Mitsui, which has been a shareholder in New Forests since 2016 with a 23% stake, will increase its holding to 49%, and Nomura will become a 41% shareholder while the remaining 10%… Continue reading Japan’s Mitsui, Nomura to acquire Australian forestry asset manager New Forests
The LP View: Crises can be good time to deploy capital, says Silverhorn’s Bert Kwan …
For Hong Kong-based multi-asset investment firm Silverhorn, Asian fund managers with experience in operating through different market cycles would be the sweet spot for its primary investment. The opportunities in Asia are presented by a large cohort of young entrepreneurs, and the number of funds that are looking to back those entrepreneurs, according to Bert… Continue reading The LP View: Crises can be good time to deploy capital, says Silverhorn’s Bert Kwan …
For SE Asian giants, the focus is back on fundamentals amid tech selloff
It has been more than a month since Indonesian technology major GoTo’s public market outing after it raised $1.1 billion on the domestic stock exchange in a widely anticipated IPO. GoTo’s shares, which surged as much as 23% on its market debut, have tanked over the subsequent few weeks. GoTo’s shares hit their lowest price… Continue reading For SE Asian giants, the focus is back on fundamentals amid tech selloff
US pension commits up to $65m to Carlyle, IDG Capital’s new funds
Delaware Public Employees’ Retirement System (DPERS) has committed up to $65 million to two latest Asia funds managed by alternative investment giant Carlyle Group and China-focused venture capital firm IDG Capital. The US pension fund will invest up to $40 million in Carlyle Asia Partners VI, which was reported to be seeking between $8 billion… Continue reading US pension commits up to $65m to Carlyle, IDG Capital’s new funds