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)....
Thailand's Siam Commercial Bank (SCB) has formally announced a financial technology investment strategy aimed at improving customer experience while encouraging domestic start-ups to keep up with changes in the global market.
China Investment Corporation (CIC) posted a 2.96% loss on its international portfolio in 2015 – the first annual negative return in four years and the third since its inception in 2008.
Bertelsmann India Investments has led a INR1.12 billion ($17 million) Series B round of funding for Indian budget hotel chain Treebo.
KKR will sell its 45% stake in Australia-based healthcare provider GenesisCare as China Resources Group and Macquarie Capital agreed to buy a majority interest in the business.