China’s Jinko Solar Co Ltd said it would sell its unit for 4.3 billion yuan ($622.10 million) to buyers including a government-linked fund, as one of the world’s major solar panel producers looks to cut costs and improve efficiency. The sale of Jinko Solar’s unit in the western region of Xinjiang to Ziyang Major Industry… Continue reading Chinese solar panel maker Jinko to sell unit for $622m
Author: Deal Street Asia Online News
ADIA picks stake in Indian unicorn Purplle; JSW Ventures part exitsThe partial exit by JSW Ventures in Purplle has generated 18x return on the capital…
Abu Dhabi Investment Authority (ADIA) has invested in Goldman-backed online beauty products retailer Purplle through a secondary purchase of shares from existing investor JSW Ventures, per an announcement on Tuesday. While the transaction amount was not disclosed, media reports have pegged it to be in the region of $40-60 million. The investment was made at… Continue reading ADIA picks stake in Indian unicorn Purplle; JSW Ventures part exitsThe partial exit by JSW Ventures in Purplle has generated 18x return on the capital…
BioEngine bags funds and 41 Greater China deals worth almost $351m
BioEngine Sci-Tech, which develops serum-free medium solutions for biopharmaceutical firms, has raised 300 million yuan ($42.5 million) in a Series C funding round, according to a company release on May 15. Beijing-headquartered venture capital firm NRL Capital led the Series C round while Xiamen C&D Emerging Industry Equity Investment, Riverhead Capital, Huimei Capital, and Kington… Continue reading BioEngine bags funds and 41 Greater China deals worth almost $351m
Japan’s Rakuten set to raise $2.18b through share issue
Japanese e-commerce and fintech conglomerate Rakuten Group Inc will raise up to 294.2 billion yen ($2.18 billion) by issuing new shares, it said on Wednesday as it works to offset the financial impact of losses at its mobile business. Rakuten said it will raise up to 252.5 billion yen via a public offering and another… Continue reading Japan’s Rakuten set to raise $2.18b through share issue
Jungle Ventures leads $11m funding in NIC and India deals worth $416m
Jungle Ventures has led an $11-million growth equity funding round in Pune-based Walko Food-owned ice cream brand and quick-service restaurant (QSR) company NIC, the latter announced on Wednesday. The fresh funds will be deployed to expand Walko’s production capabilities, enhance its product offerings, and broaden its distribution reach, with the aim of capturing a larger… Continue reading Jungle Ventures leads $11m funding in NIC and India deals worth $416m
Malaysia’s Khazanah launches country’s first investment grade bond in 2 years
Malaysia’s sovereign wealth fund Khazanah Nasional Berhad has launched a dollar bond, which one source with direct knowledge said is looking to raise up to $1 billion. The fund launched a five-year sukuk bond and a 10-year senior unsecured fixed rate bond, which is the first investment grade deal in Malaysia for two years. The… Continue reading Malaysia’s Khazanah launches country’s first investment grade bond in 2 years
Japanese taxi-hailing platform GO raises nearly $75m from Goldman SachsTokyo-based GO is reportedly valued at ¥135 billion ($1 billion) in its latest …
Japanese taxi-hailing platform GO Inc has raised 10 billion yen (approx $75 million) from Goldman Sachs as part of its Series D funding round, it said in a statement. According to a Bloomberg report, Tokyo-based GO was valued at ¥135 billion ($1 billion) in its latest fundraising round. The taxi-hailing app will use the proceeds towards… Continue reading Japanese taxi-hailing platform GO raises nearly $75m from Goldman SachsTokyo-based GO is reportedly valued at ¥135 billion ($1 billion) in its latest …
Alibaba’s ‘Three Kingdom Tactics’ ordered to pay NetEase over copyright
A Chinese court has ordered an Alibaba Group unit that developed the hit mobile game “Three Kingdoms Tactics” to pay NetEase Inc 50 million yuan ($7.2 million) in compensation over copyright infringement, according to a statement from NetEase. Ejoy, the Alibaba subsidiary behind the hugely popular strategy game, said on microblogging site Weibo that it… Continue reading Alibaba’s ‘Three Kingdom Tactics’ ordered to pay NetEase over copyright
Fast-fashion giant Shein plans Mexico factory
Online fashion giant Shein is exploring plans to build a factory in Mexico, as one of its manufacturing hubs outside China, sources familiar with the matter told Reuters. The factory, which will produce Shein items and is part of the retailer’s push to localize production, could shorten shipping time and cut distribution costs for Shein… Continue reading Fast-fashion giant Shein plans Mexico factory
PropertyGuru’s Q1 revenue up 16%, net loss narrows YoY
New York-listed PropertyGuru posted a 16% year-on-year (YoY) jump in revenue in the first three months of this year to S$33 million ($24.5 million) and cut its net loss to S$10 million from S$120 million a year ago. The Southeast Asian property listing platform said its overall YoY revenue rose on the back of the… Continue reading PropertyGuru’s Q1 revenue up 16%, net loss narrows YoY