Exits
Apollo, Oaktree-owned Nine Entertainment targets $658m IPO
Australian TV network Nine Entertainment - which is backed by US hedge funds Oaktree Capital Group and Apollo Global Management - is looking to raise up to A$697 million ($658 million) in its IPO set for December. The capital raised will be use to pay...
Darby exits India's Symbiotec Pharmalab, Actis ups stake
Darby Private Equity, the PE arm of Franklin Templeton Investments, has exited its investment in Symbiotec Pharmalab to Actis. Financial terms were not disclosed.
Qunar shares nearly double on NASDAQ debut
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, saw its stock nearly double on the first day of trading on NASDAQ on Friday. It betters the 42% gain posted by VC-backed Chinese classifieds website 58.com a day earlier.
Warburg Pincus completes $540m exit from Australia's Transpacific
Warburg Pincus has exited its one third holding in Australian waste management firm Transpacific Industries Group via the public market, generating proceeds of around A$570 million ($540 million).
Taiwan's Chinatrust to buy Tokyo Star Bank for $530m
CTBC Financial, the parent company of Taiwan's Chinatrust Commercial Bank, is to buy a 98.16% stake in Tokyo Star Bank for JPY52 billion ($530 million) from US private equity firm Lone Star and other creditors-turned-shareholders. It will be the first...
Hony-backed Hydoo raises $200m in HK IPO
Hydoo International Holdings, a Chinese commercial real estate developer backed by Hony Capital, has raised more than $200 million in a Hong Kong IPO.
Baidu, VC-owned Qunar ups US IPO target
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, has increased the indicative price range for its forthcoming IPO and is now expected raise as much as $155.4 million.
China classifieds site sees shares close up 42% on US debut
Chinese online marketplace 58.com – a classifieds website along the lines of Craigslist, backed by Warburg Pincus, SAIF Partners and DCM – saw its shares close up 42% on the first day of trading on the New York Stock Exchange. Coming in the wake of 58.com’s...
Bamboo Finance sees 2x return on Mongolia XacBank exit
Emerging markets-focused private equity firm Bamboo Finance has exited its stake in TenGer Financial Group (TFG), the holding company of Mongolia's XacBank, to Japan's Orix Corp. Financial details of the transaction were not disclosed, but it is said...
J-Star makes sweet exit from Tokachi
Gifts are a big part of Japanese tradition. Whether you are making an introduction, expressing thanks or simply marking a change in the seasons, an exchange of gifts is usually required. A large section of the country’s consumer sector relies on providing...
Hony, Suning to take controlling stake in China's PPTV for $420m
Hony Capital and home appliance retailer Suning Commerce - also one of the PE firm's portfolio companies - will buy a controlling interest in Chinese online TV provider PPTV for $420 million. The deal, which values PPTV at approximately $568 million,...
Chinese game developer Boyaa plans $133m HK IPO
Boyaa Interactive, a Chinese developer of online board and card games backed by Sequoia Capital, intends to raise as much as HK1.03 billion ($133 million) through an IPO in Hong Kong. It is the third game developer to pursue a listing in the city this...
Ant Capital exits cream puff maker Beard Papa
Ant Capital is exiting its 100% stake in Muginoho Holdings, the company behind Japanese cream puff brand Beard Papa, to instant food giant Nagatanien for JPY9.44 billion ($96 million).
Jafco-backed Ride On Express files for Japan IPO
Ride On Express, a Japanese food delivery franchise operator backed by Jafco Ventures, has filed for a Tokyo IPO.
Hong Kong Aircraft Engineering buys Timco from Owl Creek for $389m
Hong Kong Aircraft Engineering (HAECO), a listed aircraft maintenance provider controlled by Swire Pacific, has agreed to buy US-based Timco Aviation Services for $388.8 million from hedge fund operator Owl Creek Asset Managers.
VC-backed Chinese lottery site files for $150m US IPO
VC-backed Chinese sports lottery provider 500.com has made an initial filing to raise around $150 million through an IPO on the New York Stock Exchange.
J-Star completes $6.6m exit of sweets maker Tokachi
J-Star has completed its exit of a 100% stake Japanese sweet maker Tokachi to Tokyo-listed Mediaflag in deal valued at JPY644 million ($6.6 million). According to sources familiar with the matter, the GP has generated a 1.3x return on its investment....
China's Sungy Mobile targets $80m US IPO
Sungy Mobile, a Chinese app developer backed by IDG Capital Partners, JAFCO, WI Harper and China Broadband Capital (CBC), is targeting a $80 million IPO and a listing on the New York Stock Exchange. The company, which focuses on apps, widgets and functions...
Quadrant plans IPO for Australia's Burson Auto Parts – report
Quadrant Private Equity is reported to be planning an IPO of Burson Auto Parts, two years after acquiring the company.
Baidu, VC-backed Qunar sets terms for $127m US IPO
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, is seeking to raise up to $127.8 million through its NASDAQ IPO. The company is also backed by GSR Ventures and GGV Capital, neither of which will sell any shares in the offering....
Chinese online marketplace 58.com sets terms for $165m US IPO
Chinese online marketplace 58.com is seeking raise up to $165 million through its New York Stock Exchange IPO. The company’s venture capital investors – Warburg Pincus, SAIF Partners and DCM – will not sell any of their shares in the offering.
MSPEA set for partial exit as Hyundai Rotem IPO raises $585m
Hyundai Rotem, a train manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), will complete the fourth-largest IPO ever executed on the Korea Exchange and the biggest in more than three years. The offering will generate proceeds of KRW622.4...
Quadrant exits Summerset, buys Estia Health
Quadrant Private Equity has fully exited New Zealand retirement village operator Summerset via the public market, generating an estimated return multiple of more than 3.7x. In the same week, it acquired a majority stake in Australian aged-care operator...
3Q analysis: Haves and have nots
Third quarter analysis: Fundraising fortunes become ever more polarized; Korea continues to be the stand-out buyout market, while India shows growth from a very low base; China IPOs are on the comeback trail