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)....
Australian superannuation fund Hostplus has committed $50 million to a China-focused VC fund launched by Australian seed investor Artesian. The fund is targeting up to $200 million.
Yatra Online, an Indian travel services provider listed on NASDAQ, has raised INR1 billion ($15.4 million) in debt funding from InnoVen Capital.
Steven Okun, until recently KKR’s director of public affairs for Asia Pacific, has been appointed ASEAN representative for EMPEA, a global industry association for private capital in emerging markets.
East Ventures has launched a $30 million Southeast Asia fund that will make seed to Series A investments in technology start-ups, with an emphasis on Indonesia.