Vietnam’s Mobile World Investment Corp said on Wednesday it has hired an adviser to explore the sale of its Bach Hoa Xanh grocery chain in a deal sources familiar with the matter said would value the business at more than $1.5 billion. It would be the country’s second-largest deal following the $4.8 billion acquisition of… Continue reading Mobile World hires adviser to sell $1.5b Vietnamese grocery business
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China halts more than 20 IPOs sponsored by China Merchants Securities amid investigation
Chinese bourses have halted processing more than 20 initial public offering (IPO) plans sponsored by China Merchants Securities, following an investigation into the broker, according to exchange disclosures. The Shenzhen Stock Exchange has suspended 15 IPO plans set for its ChiNext board, while the Shanghai exchange has paused five IPOs targeting its tech-focused STAR Market since last Friday, exchange filings showed. Three other IPOs targeting the Beijing Stock… Continue reading China halts more than 20 IPOs sponsored by China Merchants Securities amid investigation
Ping An defends HSBC spin-off call but says it is not an activist investor
China’s Ping An Insurance Group defended its call to spin off HSBC‘s Asia business, saying it cared about investment returns from its large stake in Europe’s biggest bank but was not an activist investor. “It is a significant investment and we’ve invested in it for seven years,” Jessica Tan, Ping An’s co–CEO, told Reuters on Wednesday, when asked about the drivers behind the insurer urging HSBC to consider a spin–off. Ping An is HSBC‘s largest… Continue reading Ping An defends HSBC spin-off call but says it is not an activist investor
Singtel warns of inflationary challenges, after 41% jump in Q1 profit
Singapore Telecommunications Ltd (Singtel) on Wednesday warned of a challenging operating environment due to rising inflation and interest rates, after posting a 41% jump in June quarter profit. Companies around the world are facing pressure from rising labour and fuel costs, prompting them to take a number of belt-tightening steps to avoid a hit to their profit margins. “We will need to stay… Continue reading Singtel warns of inflationary challenges, after 41% jump in Q1 profit
Twitter merges misinformation and spam teams following whistleblower claims
Twitter is making a major change to its organization after former security head Peiter “Mudge” Zatko accused the company of having lax security and bot problems. According to Reuters, Twitter is merging its health experience team, which is in charge of clamping down on misinformation and harmful content on the website, with its service team.… Continue reading Twitter merges misinformation and spam teams following whistleblower claims
Thai animal feed and food firm Betagro looks to raise $554m IPO: reportThe company will offer up to 25% stake.
Thai integrated food producer Betagro is said to be planning a 20 billion baht ($554 million) IPO, which could be Thailand’s second largest public listing this year, Bloomberg reported on Tuesday. The report added that Betagro could launch the IPO as early as next month. The company will offer no more than 500 million of… Continue reading Thai animal feed and food firm Betagro looks to raise $554m IPO: reportThe company will offer up to 25% stake.
How Chinese PE firms were scammed by their own sales teams
When an entrepreneur surnamed You set out to build a sales team in Shanghai in December 2020, she thought she had hired a team full of potential to sell her firm’s fund products. What she didn’t count on was for the 10 new hires to be regularly absent for work and fail to seal any… Continue reading How Chinese PE firms were scammed by their own sales teams
Thai spa-booking startup GoWabi pockets $4m funding and other SE Asia deals
Bangkok-based spa and beauty booking platform GoWabi has raised $4 million in its Series A+ funding round anchored by Thai oil and gas retail major PTT Oil and Retail Business Public Company Limited (OR). OR made the investment through its subsidiary, Modulus Ventures Company Limited, as part of efforts to strategically build a new business,… Continue reading Thai spa-booking startup GoWabi pockets $4m funding and other SE Asia deals
Vietnam sees big rise in chain drugstores during pandemic
As the coronavirus pandemic has spread through Vietnam, so has the number of drugstores operated by major chains. Traditionally the domain of mom-and-pop shops, the number of drugstores run by the three major chains has increased eightfold since 2019 as Vietnamese residents become more health conscious in the wake of the pandemic. Go to Source
China Digest: Yonghui Fresh Food eyes $1.5b valuation; CloudView nets $100m
Yonghui Fresh Food, the grocery supply affiliate of one of China’s biggest retailers Yonghui Superstores, is reportedly looking to raise about $200 million. Separately, CloudView, a global internet browser developer backed by Chinese investors, has raised almost $100 million. Yonghui Fresh Food eyes $1.5b valuation in pre-IPO round: report Yonghui Fresh Food, the grocery supply… Continue reading China Digest: Yonghui Fresh Food eyes $1.5b valuation; CloudView nets $100m