Author: Deal Street Asia Online News

Renewable energy-focused SPAC AP Acquisition prices $150m IPO in New York

AP Acquisition Corp, a SPAC with a focus on decarbonisation and the renewable energy sector, is looking to raise about $150 million in an initial public offering (IPO) on the New York Stock Exchange (NYSE), the company said in a statement. SPACs are blank cheque companies that raise capital solely to acquire private entities with… Continue reading Renewable energy-focused SPAC AP Acquisition prices $150m IPO in New York

Death of China’s tycoon Xie Zhikun triggers selling in firms he controlled

Shares of Chinese companies controlled by Zhongzhi Enterprise Group founder Xie Zhikun plunged on Monday, after the surprise death of the rags-to-riches tycoon triggered fears of disorder in a business empire spanning mining to asset management. All nine listed companies controlled by Xie, 61, including education firm Dalian My Gym Education Technology Co Ltd and Xinjiang Zhundong Petroleum Technology Co, tumbled in morning trade, even as they say… Continue reading Death of China’s tycoon Xie Zhikun triggers selling in firms he controlled

Sequoia China, 5Y Capital back Huobanyun and 25 more deal updates …

ResearchPremium Codeless data platform Huobanyun has garnered $40 million in its Series B+ round of financing from existing investors Sequoia Capital China and 5Y Capital, per a company statement on Monday.  Trustbridge Partners, Belle International and Engage Capital also joined the round.  Boutique investment bank 100Summit Partners facilitated the transaction.  Sequoia China and 5Y Capital had… Continue reading Sequoia China, 5Y Capital back Huobanyun and 25 more deal updates …

Indian B2B startup Bizongo raises $110m in funding led by Tiger Global

Private equity-backed B2B e-commerce and supply chain enablement platform Bizongo has raised as much as $110 million in its Series D round led by New York-based Tiger Global Management. The round that saw the participation of both new and existing investors has pegged the valuation of the company at $600 million. While new investments have… Continue reading Indian B2B startup Bizongo raises $110m in funding led by Tiger Global

India: Used car marketplace Cars24 raises $400m in latest round

Indian used car marketplace Cars24, backed by Japanese behemoth Softbank, has raised $400 million as a part of its latest funding round. The funding comes just months after the company raised $450 million in September. In the current round, about $300 million of the total corpus has come in through equity, while the remaining $100… Continue reading India: Used car marketplace Cars24 raises $400m in latest round

Carlyle to have 20th exit in Japan, selling Sunsho Pharmaceutical

Global investment firm Carlyle has agreed to sell its entire investment in Sunsho Pharmaceutical, a Japanese contract manufacturer of health and nutrition products, to Osaka-based Towa Pharmaceutical. The financial details of the deal were not disclosed. Carlyle said in a statement that the transaction is expected to be completed in February next year. Carlyle acquired a… Continue reading Carlyle to have 20th exit in Japan, selling Sunsho Pharmaceutical

Razorpay secures $375m in Series F round, valuation jumps to $7.5b

Bengaluru-based payments processing platform Razorpay has raised around $375 million in its Series F round co-led by Lone Pine Capital, Alkeon Capital and TCV, according to an announcement on Monday. With this round, Razorpay’s valuation has more than doubled to hit $7.5 billion in just eight months. Existing investors Tiger Global, Sequoia Capital India, GIC and… Continue reading Razorpay secures $375m in Series F round, valuation jumps to $7.5b

China’s LePure snags over $100m from Hillhouse, Legend, others

Shanghai LePure Biotech has completed its Series B+ round of financing raising ‘hundreds of millions of US dollars’. New investors who poured in fresh capital in the round include Asia’s leading private equity firm Hillhouse Capital, TMT and healthcare-driven New Alliance Capital, as well as HM Capital. Legend Capital, which had earlier infused ‘tens of… Continue reading China’s LePure snags over $100m from Hillhouse, Legend, others

Singtel stares at $216m exposure in Australia tax case defeat

Singapore Telecommunications Ltd has estimated it faces A$304 million ($216 million) in tax exposure, interest and penalties, after an Australian court dismissed its appeal against an assessment by the country’s taxation office. The case is related to its acquisition of Singtel Optus Pty Limited in 2001. Singtel‘s Australian subsidiary, Singapore Telecom Australia Investments (STAI), had received amended assessments from the Australian Taxation Office for primary tax of A$268 million, interest of A$58 million and penalties of… Continue reading Singtel stares at $216m exposure in Australia tax case defeat