India’s Digit Insurance, backed by the Canadian billionaire Prem Watsa’s Fairfax Group, has filed the draft red herring prospectus (DRHP) for its initial public offer (IPO) with the market regulator Securities and Exchanges Board of India (Sebi), on Tuesday. According to media reports, the size of the IPO is likely to be around $440 million.… Continue reading Digit Insurance files for IPO, joins loss-making Indian startups looking to go publicDigit Insurance is backed by Fairfax, Sequoia Capital, A91 Partne…
Category: Tech News
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Crypto currency firm Hodlnaut seeks to restructure under judicial management
Hodlnaut, a Singapore-based crypto currency lender and borrower, said on Tuesday it filed an application to be placed under judicial management as it looks to restructure its business. The crypto company, which last week suspended withdrawals, swaps and deposits, said it filed the petition with the Singapore High Court. Hodlnaut is the latest to feel the heat of a sharp selloff in crypto assets that started in May with the… Continue reading Crypto currency firm Hodlnaut seeks to restructure under judicial management
H&M back in Alibaba’s Tmall, 16 months after Swedish brand’s criticism of human rights abuses
Swedish fashion giant H&M’s official store on Alibaba‘s Tmall e-commerce platform has re-opened, 16 months after the Chinese site took it down following the brand’s criticisms of human rights abuses in Xinjiang. The re-opening was first noticed by Chinese netizens and confirmed by a Reuters search of the platform on Tuesday. It was not clear… Continue reading H&M back in Alibaba’s Tmall, 16 months after Swedish brand’s criticism of human rights abuses
Founders of KKR-backed SG waste collector 800 Super said to be close to selling firm
The founders of Singaporean rubbish collector 800 Super Waste Management, backed by private equity firm KKR & Co, are nearing a deal to sell the business which could value it at around $300 million, two sources with knowledge of the matter told Reuters. The company, controlled by executive chairman Lee Koh Yong and his family, is working with… Continue reading Founders of KKR-backed SG waste collector 800 Super said to be close to selling firm
Tencent plans to sell all or bulk of Meituan stake worth $24b
China’s Tencent Holdings plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan to placate domestic regulators and monetise an eight-year-old investment, four sources with knowledge of the matter said. Tencent, which owns 17% of Meituan, has been engaging with financial advisers in recent months to work out… Continue reading Tencent plans to sell all or bulk of Meituan stake worth $24b
Apple requires employees to work out of its offices thrice a week starting in September
After multiple delays and false starts, Apple now has a solid start date for its hybrid work arrangement. According to Bloomberg and The Verge, the tech giant will start requiring employees who work in its Santa Clara Valley offices to report to office three times a week starting in the week of September 5th. They’re… Continue reading Apple requires employees to work out of its offices thrice a week starting in September
Two Sigma, Soros among big hedge funds positioned for tech comebackTech and growth stocks have come screaming back in recent weeks after a brutal H1
Two Sigma Investments, Hudson Bay Capital Management, and Soros Fund Management were among the prominent hedge funds that added stakes in mega-cap technology companies in the last quarter, positioning themselves to potentially benefit from the recent comeback in growth stocks. Two Sigma Investments, for instance, added a new position in Facebook-parent Meta Platforms Inc of slightly more than 1.5 million shares that were worth $248.5 million at the end… Continue reading Two Sigma, Soros among big hedge funds positioned for tech comebackTech and growth stocks have come screaming back in recent weeks after a brutal H1
SEA Digest: Asia Strategic Holdings signs franchising agreement with Kids&Us English; ThaiBev, Frasers Property establish JV
Asia Strategic Holdings Ltd, an independent developer and operator of consumer businesses in emerging Asia, has entered into an exclusive franchising agreement with Kids&Us English while Singapore-listed Thai Beverage and Frasers Property have established a joint venture for a potential 2.2-billion-baht (S$84.27 million) investment in BetterBe Marketplace. Asia Strategic Holdings enters franchising agreement with Kids&Us English Asia… Continue reading SEA Digest: Asia Strategic Holdings signs franchising agreement with Kids&Us English; ThaiBev, Frasers Property establish JV
Elliott exited Twitter during second quarter amid takeover talks
Elliott Management, the hedge fund that pushed for big changes at Twitter two years ago, exited the stock during the second quarter, soon after Elon Musk announced plans to buy the social media company, a regulatory filing shows. The filing on Monday, showed that Elliott no longer owned any common stock in Twitter on June 30. It had owned 10 million shares at the end of the first quarter. Twitter‘s shares,… Continue reading Elliott exited Twitter during second quarter amid takeover talks
Tencent stops sales on NFT platform Huanhe as regulator steps up scrutiny
Chinese internet giant Tencent Holdings’ non-fungible token (NFT) platform Huanhe will no longer release digital collectibles to the public, it said on Tuesday, as regulatory scrutiny of NFTs mounts in the country. The Shenzhen-based company said that Huanhe, officially launched early last August, will no longer release new NFTs to users from Tuesday. But the company said that owners of existing collectibles will still be able to hold,… Continue reading Tencent stops sales on NFT platform Huanhe as regulator steps up scrutiny