Vietnam’s GSM is planning to kickstart electric two-wheeler services, while Malaysia’s Capital A is looking to launch a ride-hailing company in the Philippines. Separately, Singapore-based B2B fintech Aspire has announced that it has turned profitable. GSM plans to offer two-wheeler services Green and Smart Mobility (GSM) is planning to launch electric two-wheeler services, a few… Continue reading SEA Digest: GSM, Capital A to drive in new services; Aspire turns profitableGSM launched its fully electric ride-hailing service Green SM Taxi in Apri…
Author: Deal Street Asia Online News
Asia-focused SPAC Atlas Growth Acquisition withdraws $110m US IPOThe blank cheque company intended to focus its efforts in Asia.
Atlas Growth Acquisition Limited, the Singapore-based, Asia-focused special purpose acquisition company (SPAC), has abandoned its plans to raise up to $110 million in an initial public offering (IPO) in the US. In a filing lodged with the US Securities and Exchange Commission, the blank cheque company had asked that the withdrawal be effective from June… Continue reading Asia-focused SPAC Atlas Growth Acquisition withdraws $110m US IPOThe blank cheque company intended to focus its efforts in Asia.
BYJU’s files suit against Redwood, alleges ‘predatory tactics’ in acceleration of $1.2b loan
“The TLB lenders issued a notice demanding immediate payment of the entire amount under the TLB, despite knowing that this purported acceleration was under challenge before the court, BYJU alleged, adding that the TLB lenders’ agent has even refused to provide identities of the TLB lenders to BYJU’S – something BYJU’S is entitled to under… Continue reading BYJU’s files suit against Redwood, alleges ‘predatory tactics’ in acceleration of $1.2b loan
What’s behind the spurt in Indonesian IPOs this year?
The Indonesia Stock Exchange (IDX) has been buzzing with activity in 2023. As of May 26 this year, the bourse has hosted 40 initial public offerings (IPOs) that cumulatively raised 40 trillion rupiah ($2.67 billion). The overall fundraising is already higher than the entire 2022’s total of 33 trillion rupiah. Go to Source
Indonesia’s Dagangan reports higher revenue, and wider losses in 2022
Dagangan, an Indonesia-based rural e-commerce startup, reported higher revenue but a significantly wider loss for the financial year that ended October 31, 2022, according to a regulatory filing by its Singapore-registered entity, amid its efforts to scale up coverage across Java Island. The group, which includes its Singapore-based entity Dagangan Pte Ltd and its Indonesia-based… Continue reading Indonesia’s Dagangan reports higher revenue, and wider losses in 2022
Taiwanese insurers Cathay Life, Taiwan Life commit $176m to four PE funds
Taiwanese insurers Cathay Life Insurance and Taiwan Life Insurance have agreed to commit a total of $176 million to four private equity (PE) funds, according to separate stock exchange filings. Cathay Life, the insurance subsidiary of Taiwanese conglomerate Cathay Financial Holdings, has committed $60 million to KPS Special Situations Fund VI A and another 80… Continue reading Taiwanese insurers Cathay Life, Taiwan Life commit $176m to four PE funds
Investors eye India’s tier 2, tier 3 towns as startup action spreads to hinterland
Private equity (PE) and venture capital (VC) firms are rushing to clock investments in India’s tier 2 and tier 3 cities to address the shortage of equity capital being faced by the country’s micro, small and medium enterprises (MSMEs). The development comes at a time when new-age startups in tier 1 cities are mired in… Continue reading Investors eye India’s tier 2, tier 3 towns as startup action spreads to hinterland
BYJU’s to launch IPO of test-prep unit Aakash next yearAakash was acquired by BYJU’s for $950 million in 2021.
Indian edtech major BYJU’s on Monday said its test preparation arm Aakash Education Services will launch its initial public offering in the middle of next year. Blackstone-backed Aakash, which was acquired by BYJU’s for $950 million in 2021, is one of the best-performing companies under the group. Aakash offers test preparation courses targeting the JEE… Continue reading BYJU’s to launch IPO of test-prep unit Aakash next yearAakash was acquired by BYJU’s for $950 million in 2021.
Vietnam’s VinaCapital explores Thu Cuc Medical stake sale
Vietnamese investment management firm VinaCapital is exploring the sale of its minority stake in Thu Cuc Medical System TCI in a deal that could value the Hanoi private hospital operator at between $150 million and $200 million, said two sources with direct knowledge of the matter. VinaCapital is in talks with at least one financial… Continue reading Vietnam’s VinaCapital explores Thu Cuc Medical stake sale
Indonesia plans $2b injection into troubled state construction firms
Indonesia’s state-owned enterprises ministry plans to top up equity investments in two construction firms by 30.5 trillion rupiah ($2.05 billion) by 2024 to help ease companies’ financial troubles, an official said on Monday. The plans were unveiled in a hearing with parliament’s committee overseeing state investments. Any capital injection into state companies must be approved… Continue reading Indonesia plans $2b injection into troubled state construction firms