The US Securities and Exchange Commission (SEC) has filed a lawsuit against two Chinese executives from Puda Coal, accusing them of shifting its main asset to a third-party company and then selling a stake to CITIC Trust. Ming Zhao and Liping Zhu, chairman and CEO respectively, didn’t disclose their actions and went on to raise $115 million from investors after listing the company in the US.
The lawsuit is the first to be filed as part of an SEC investigation of accounting irregularities at overseas companies listed in the US, particularly Chinese firms that completed reverse takeovers (RTOs)....
A unit of China Zhongwang has agreed to buy US aluminum company Aleris Corporation in a deal worth $2.3 billion, facilitating an exit for majority owner Oaktree Capital Management.
Beijing Allcure Medical Technology, a Chinese medical start-up that develops cloud-based radiotherapy technology, has raised an extended Series A round of funding worth RMB180 million ($27 million).
Sequoia India and US-based Sands Capital Ventures have led a $27.4 million Series B round of funding for Mitra Biotech, an India and US-based company that focuses on personalized cancer therapies.
HappyFresh, a Southeast Asian online grocery delivery platform, has raised a Series B funding round led by Dubai-based private equity firm Samena Capital.