Ausgrid deal obscures weak investment environment; fundraising returns to normal after state-backed blitz; China’s IPO market is on the mend, but public market problems undermine Asia exits
Fifteen start-ups backed by IDG Capital Partners achieved valuations of $1 billion or more in 2016, taking the total number of unicorns in the China-focused VC firm’s portfolio to 26 over the past 12 years.
New Century Healthcare, a Chinese pediatric hospital operator backed by CDH Investments and Boyu Capital, is planning to raise HK$1 billion ($129 million) via a Hong Kong IPO.
From re-listing Focus Media in Shenzhen to closing Fund III at $2.1 billion, FountainVest Partners has enjoyed a fruitful 12 months. CEO Frank Tang assesses the China market
Moving from a privatization in the US to a re-listing in Shenzhen through a reverse merger – in the space of 30 months – Focus Media blazed a trail that others have sought to follow
Everstone Capital is set to make a partial exit from Indian educational publisher S Chand as the company filed for domestic IPO.
Meitu, a Chinese photo and community app provider driven by the selfie phenomenon, raised HK$4.88 billion ($629 million) in its Hong Kong IPO, securing liquidity events for several venture capital investors.
Infrastructure and late-stage technology among the few investment bright spots; renminbi vehicles dominate the fundraising landscape; public market instability undermines exit plans
Exit opportunities are available for savvy investors in India, and market professionals say prospects are good in the long term. But GPs are likely to continue to find the near future difficult
PNB Housing Finance, the mortgage lender subsidiary of India's state-run Punjab National Bank that is backed by The Carlyle Group, closed up 11.35% on its trading debut following a INR30 billion ($449 million) IPO.
Betta Pharmaceuticals, a Chinese VC-backed drug developer backed by several venture investors, has completed a RMB720 million ($106 million) IPO on Shenzhen’s Growth Enterprise Market Board.
Ingham’s Enterprises, an Australian poultry producer bought by TPG Capital three years ago, has scaled back its domestic IPO to a target of A$596.4 million ($457 million).
GDS Holdings, a Chinese data center provider that counts SBCVC among its investors, raised $192.5 million in its US IPO after pricing the offering below the indicative range.
COFCO Meat, a subsidiary of Chinese agricultural conglomerate COFCO Group that received backing from four private equity firms in 2014, has raised HK$1.95 billion ($252 million) in its Hong Kong IPO, after pricing the offering at bottom of the indicative...
Zhou Hei Ya, a Chinese mass-market braised food producer backed by IDG Capital Partners and Tiantu Capital, is looking to raise up to HK$3.3 billion ($427 million) through a Hong Kong IPO.
Australia-based financial services administrator Bravura Solutions is looking to raise A$148 million ($113 million) through a domestic IPO – three years after its PE owner Ironbridge Capital privatized the business in a deal worth A$173 million (then...
Korea's PE-backed Acushnet Holdings, which owns the Titleist and FootJoy golf brands, saw its shares jump 5.9% in the first day of trading on the New York Stock Exchange following a smaller-than-expected $328.7 million IPO.
Private equity-backed Chinese logistics operator ZTO Express has raised $1.4 billion in its New York Stock Exchange IPO after pricing its shares above the indicative range. It is the largest US float by a Chinese company since Alibaba Group in 2014.
Several Korean private equity investors are poised to make a partial exit as Acushnet Holdings, owner of the Titleist and FootJoy golf brands, set a target of $463.9 million for its US IPO.
VC-backed Chinese data center provider GDS Holdings is seeking to raise up to $269.5 million in its NASDAQ IPO. The proceeds could reach $309.9 million if the overallotment option is fully exercised.
Development has been inconsistent in Asia’s IPO markets, with frequent pacing issues and challenges unique to each region. But in the right hands, they can still be highly rewarding for PE investors
ZTO Express, a China logistics operator backed by investors including Warburg Pincus and Sequoia Capital, has set a target of up to $1.33 billion for its US IPO.
Fundraising hits a record quarterly high, thanks entirely to Chinese government-backed vehicles; Australia, Southeast Asia compensate for investment slowdown in China; India shines on exits
Azure Power, an Indian solar panel company backed by several PE investors, has raised $61.4 million in its IPO on the New York Stock Exchange.