Exits
Norway fund, Oaktree among anchors for China Cinda IPO
Norway’s sovereign wealth fund and Oaktree Capital Management are two of 10 cornerstone investors that will cover up to 44% of China Cinda Asset Management Corp’s IPO. The company, originally set up to absorb non-performing loans (NPLs) from China’s Big...
Sungy Mobile stock closes up 19% after $78.5m US IPO
Sungy Mobile, a Chinese app developer backed by IDG Capital Partners, JAFCO, WI Harper and China Broadband Capital (CBC), saw its stock jump 19% on its first day of trading on NASDAQ to close at $13.35.
AD Capital-owned Spring REIT to raise $229m in HK IPO
Spring REIT, a real estate investment trust owned by AD Capital, is looking to raise up to $229 million through a Hong Kong IPO. The REIT owns two office buildings in Beijing's China Central Place.
PE-backed China Cinda to raise $2.5b in Hong Kong IPO - report
PE-backed China Cinda Asset Management Corp, one of four groups set up to absorb non-performing loans (NPLs) from the country’s Big Four state-owned banks, is expected to raise up to $2.5 billion in its Hong Kong IPO.
India's VC-backed Qubecell acquired by mobile payments company Boku
Mobile billing aggregator Qubecell, which is backed by Kae Capital, Blume Ventures, Mumbai Angels and TA Ventures, has been acquired by San Francisco-based Boku.
Risa Partners exits drug store to Tsuruha Holdings for $99m
Risa Partners, a unit of NEC Capital, has exited its 56% stake in Japanese drug store operator Hearty Wants to strategic investor Tsuruha Holdings for JPY10.1 billion ($99 million).
China to modify IPO approvals system
The China Securities Regulatory Commission (CSRC) will move towards a registration-based system for IPOs in place of the current approval-based system. This is intended to make it easier for companies, especially smaller ones, to raise capital.
Australian Tax Office warns foreign investors on compliance
The Australian Taxation Office (ATO) has written to 130 private equity firms offering to “assist with their compliance” as it scrutinizes the pipeline of upcoming IPOs to ensure foreign investors don’t avoid paying local tax.
Alibaba buys VC-backed mobile app analytics operator
China e-commerce conglomerate Alibaba Group has purchased Umeng, a Beijing-based mobile app analytics service provider incubated by Innovation Works.
CapAsia exits Thai toll road
The floods that devastated Thailand in the second half of 2011 were the country’s worst in 50 years, with the World Bank putting the economic damages at $45.7 billion. Bangkok came under threat in mid-October with outer areas most severely hit. The city’s...
Temasek, Greenwoods back Phoenix Healthcare IPO
Temasek Holdings and Shanghai-based Greenwoods Investment have made a pre-IPO investment in Phoenix Healthcare Group, picking up a 10% stake in the company for RMB165 million ($26.8 million).
CapAsia JV sells stake in Thai toll road operator
CapAsia and Bank of Tokyo-Mitsubishi UFJ have sold their minority stake in Thailand’s Don Muang Tollway (DMT) for $132 million to a newly announced joint venture between Hong Kong-based First Pacific and Philippines infrastructure developer Metro Pacific...
Australia's PEP sells Link stake to Macquarie, ICG - report
Australia’s Pacific Equity Partners (PEP) has reportedly sold a 25% stake in share registry and superannuation administration services provider Link Group to Macquarie Group and Intermediate Capital Group for around A$200 million ($187 million).
Investors adapt to adversity – AVCJ Forum
Flexibility and changing strategy are key to finding the best opportunities in the current adverse environment, investors told the AVCJ Forum in Hong Kong.
North Asia GPs cautiously optimistic on economic reforms – AVCJ Forum
Government-driven reforms in Japan and South Korea have the potential to deliver more buyout opportunities, although industry participants told the AVCJ Forum in Hong Kong that their optimism is cautious rather than wholehearted.
China online video: Big fish, small fish
As Chinese online video consumers switch to mobile platforms, venture capital investors are looking for ways to ride the wave – but they must do it with one eye on strategic players also entering the space
Baring Asia completes India Hexaware deal
Baring Private Equity Asia has bought an additional 20% stake in IT and business process outsourcing services firm Hexaware Technologies for INR8.16 billion ($127.8 million) through an open offer.
PAG eyes Southeast Asia, targets $1b in realizations - AVCJ Forum
PAG, a pan-Asian GP that has so far invested only in China, expects to break into the Southeast Asia market within the next year. Weijian Shan, the firm’s chairman and CEO, added that the team is also on course to realize in excess of $1 billion from...
Elephant Capital in Mahindra Forgings partial exit
Elephant Capital has sold nearly two-thirds of its 2.45% stake in Mahindra Forgings, an Indian forging manufacturer, to Spain's auto parts supplier CIE Automotive for INR141 million ($2.3 million).
Japan's Polaris exits Nippon Oil Pump to Wendel
Japanese buyout firm Polaris Capital Group has agreed to exit its entire share in Nippon Oil Pump Group (NOP) - a maker of hydraulic pumps and motors - to French listed investment group Wendel.
Exits: Stuck in China
The weak IPO market has left many China PE firms holding assets for longer than expected. While growth deals will remain dominant, there will be change in how and with whom they are done
PE-backed Shuanghui eyes $6b HK IPO - report
Shuanghui International Holdings, the PE-backed Chinese meat processing company which recently acquired US pork producer Smithfield Foods, has reportedly hired six banks as sponsors for its intended $6 billion Hong Kong IPO next year.
Globis, Intel-backed V-Cube files for Tokyo IPO
V-Cube,a Japanese developer of web-conferencing and webinar systems backed by Intel Capital and Globis Capital Partners, has filed for its Tokyo IPO.
KKR targets $474m Bis Industries IPO – report
KKR is reportedly planning a December IPO for Australian mining logistics company Bis Industries, with marketing to institutional investors to begin this week.