After lurching from deadline to deadline, China Evergrande Group is again on the brink of default, with its pessimistic comments condemning its stock to a record low just as direct state involvement raises hope of a managed debt restructuring. Having made three 11th-hour coupon payments in the past two months, Evergrande again faces the end… Continue reading China Evergrande braces for another debt deadline
Author: Deal Street Asia Online News
Softbank-backed SenseTime launches IPO in Hong Kong to raise up to $767m …
Chinese artificial intelligence startup SenseTime Group is looking to raise up to $767 million in its Hong Kong initial public offering (IPO), according to a term sheet seen by Reuters. The deal launched on Monday for the company to sell 1.5 billion primary shares within a price range of HK$3.85 to HK$3.99 each, the term sheet said.… Continue reading Softbank-backed SenseTime launches IPO in Hong Kong to raise up to $767m …
Vietnamese EV maker VinFast eyes IPO in US in H2 of 2022 …
Vietnamese conglomerate Vingroup is aiming to list its carmaking unit VinFast in the US in the second half of next year, the company said in a statement on Saturday. Vingroup said it was working with investment banks to prepare for VinFast’s US IPO, which is expected to be the first of its kind by a… Continue reading Vietnamese EV maker VinFast eyes IPO in US in H2 of 2022 …
Indian ride-hailing firm Ola plans IPO in H1 2022, readies superapp
Indian ride-hailing company Ola plans to go public in the first half of 2022, Chief Executive Officer Bhavish Aggarwal said on Thursday, undeterred by the recent volatility and lackluster listing of some start-ups in the country. Ola, backed by Japan’s SoftBank Group, is also gearing up to create something of a “super app” with plans… Continue reading Indian ride-hailing firm Ola plans IPO in H1 2022, readies superapp
Vietnam’s Vingroup seeks to raise $1b from global investors for car unit
Vietnam’s largest conglomerate Vingroup is in talks with investors, including Qatar’s sovereign fund and BlackRock, to privately raise about $1 billion in equity for its car unit, three sources aware of the matter said. The fundraising exercise comes as VinFast, Vingroup‘s automobile arm, is betting big on the U.S. market, where it hopes that its electric SUVs and a battery leasing model will be enough… Continue reading Vietnam’s Vingroup seeks to raise $1b from global investors for car unit
India’s Ola looks to raise over $500m debt from US investors
Bengaluru-based ride hailing and electric vehicle maker Ola is looking to raise over $500 million in debt from US investors in a so-called Term Loan B (TLB) deal, joining technology peers Oyo and Byju’s that have previously tapped this market to raise debt, said two people aware of the development. Investment banks JP Morgan and… Continue reading India’s Ola looks to raise over $500m debt from US investors
China Evergrande shares fall after chairman cuts stake
Shares in China Evergrande Group fell as much as 4.8% on Monday morning, after its chairman trimmed his stake in the cash-strapped property developer to raise about $344 million. The group’s electric vehicle unit, China Evergrande New Energy Vehicle Group Ltd, also dropped more than 5% after it said the company was still exploring ways to pump capital into the unit with different investors. Evergrande has… Continue reading China Evergrande shares fall after chairman cuts stake
Chinese regulators want Didi to delist from US on data security fears: report
Chinese regulators have asked top executives of ride hailing giant Didi Global Inc to devise a plan to delist from US bourses on data security fears, Bloomberg News reported. China’s tech watchdog wants the management to take the company off the New York Stock Exchange on concerns about leakage of sensitive data, the report said, citing people… Continue reading Chinese regulators want Didi to delist from US on data security fears: report
Baidu, Pony.ai get nod to launch paid, driverless robotaxi services in Beijing …
Chinese tech group Baidu Inc and self-driving startup Pony.ai have won approval to launch paid driverless robotaxi services that will see the firms deploy not more than 100 vehicles in an area in China’s capital Beijing. The state-backed Beijing Daily newspaper reported on the approvals on Thursday, citing a ceremony held by the Beijing Economic and… Continue reading Baidu, Pony.ai get nod to launch paid, driverless robotaxi services in Beijing …
Indian EV startup Simple Energy looks to boost capacity after $21m funding
The round saw participation from current investors and board members, Manish Bharti of UiPath; and Raghunath Subramanian, non-executive chairman, UiPath India, respectively. New investors such as Sattva Group, Athiyas Group along with several high net-worth individuals (HNIs) also invested as a part of the round. According to the company, the funds raised will be used… Continue reading Indian EV startup Simple Energy looks to boost capacity after $21m funding