In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading Startup funding in India rises to 19-month high of $10.7b in July
Author: Deal Street Asia Online News
Thai energy firm PTT increases renewable target, eyes EV venture
Thailand’s state-owned PTT Pcl is setting its sights on a future in electric vehicles (EV) and more renewable power, its top executive said on Tuesday. “We have a new vision,” Auttapol Rerkpiboon said, laying out plans for growth and increasing its renewable power target to 12 gigawatts (GW) by 2030, from 8 GW previously. “Energy has arrived at a point of change, moving more… Continue reading Thai energy firm PTT increases renewable target, eyes EV venture
Shanghai regulators crack down on ‘black mouth’ online stock manipulators
Internet and securities watchdogs in China’s financial hub Shanghai have waged a campaign against “black mouths”, commentators who try to manipulate stock prices with online posts, the cyberspace regulator said in Tuesday. During the recently launched campaign, the Shanghai offices the Cyberspace Administration of China (CAC) and China Securities Regulatory Commission (CSRC) deleted or blocked over 17,000 pieces of… Continue reading Shanghai regulators crack down on ‘black mouth’ online stock manipulators
Investment banks in South Korea pocket record fees this year amid IPO boom
Investment banks in South Korea have pocketed record fees from equity underwriting this year thanks to a boom in initial public offerings (IPOs), data showed — and bankers are betting a buzzing deal pipeline means a continued near-term surge. The total fee pool for 2021 equity capital market (ECM) deals in South Korea is now… Continue reading Investment banks in South Korea pocket record fees this year amid IPO boom
China market regulator okays Ping An’s acquisition of New Founder Group
China‘s market regulator has approved Ping An Life Insurance’s acquisition of a majority stake in New Founder Group, which was established after Founder Group started court-led restructuring proceedings last year. The anti-trust bureau of the State Administration for Market Regulation issued the approval on its website on Tuesday, without disclosing financial details of the deal. Ping An Insurance Group said in April that its subsidiary Ping An Life would acquire a 51.1%… Continue reading China market regulator okays Ping An’s acquisition of New Founder Group
Indian car service startup myTVS raises $50m funding from Exor …
myTVS, an online garage aggregator for automotive repair and maintenance services, has raised about $50 million (Rs 375 crore) from a fund managed by Exor, the holding company of Italy’s Agnelli family. myTVS will use the funds to scale up its online-to-offline business model, establish a pan India platform and build its cloud-based digital infrastructure… Continue reading Indian car service startup myTVS raises $50m funding from Exor …
[Updated] Sea Group’s second quarter losses widen by 10% on higher marketing, R&D spends
Singapore-based e-commerce and gaming giant Sea Ltd. on Tuesday reported a net loss of $434 million for the second quarter of this year, widening its loss by 10.2% from $394 million a year ago as spending on sales and marketing, and R&D rose significantly. The NYSE-listed company booked revenues of $2.28 billion, up 159% from… Continue reading [Updated] Sea Group’s second quarter losses widen by 10% on higher marketing, R&D spends
India: Wearable startup Ultrahuman raises $17.5m from Alpha Wave, Steadview, others
Metabolic fitness startup, Ultrahuman, on Tuesday said it has raised $17.5 million as a part of its Series B funding from Alpha Wave Incubation (AWI), Steadview Capital, Nexus Venture Partners, Blume Ventures and Utsav Somani’s iSeed fund. Marquee founders and angel investors who also participated include Tiger Global’s Scott Schleifer, Nexus Venture Partners’ Sandeep Singhal,… Continue reading India: Wearable startup Ultrahuman raises $17.5m from Alpha Wave, Steadview, others
Philippines’ electric grid operator files for IPO to raise up to $571.4m
Philippines’ Synergy Grid & Development Phils. Inc, majority owner of the country’s electricity grid operator, has applied for an initial public offering (IPO), the corporate regulator said in a statement on Tuesday. Synergy Grid is planning to sell as many as 1.154 billion shares, including the over-allotment option, at 15 to 25 pesos ($0.30 to $0.49) each, allowing the IPO to raise… Continue reading Philippines’ electric grid operator files for IPO to raise up to $571.4m
GIC acquires over 5% in event management firm Eventbrite
Singapore sovereign wealth fund GIC has acquired a 5.05% stake in US-based event management and ticketing website Eventbrite, a filing with the Securities and Exchange Commission showed. As part of the transaction, GIC picked up a total of about 3.81 million shares. Around 3.74 million of those shares have sole voting power, while 75,000 of… Continue reading GIC acquires over 5% in event management firm Eventbrite