IPO
Cross-border e-commerce player Wish files for US IPO
Wish, a cross-border e-commerce platform that connects Chinese merchants who primarily sell products through domestic channels like Alibaba Group’s Taobao and Tmall with consumers in the US and Europe, has filed for a US IPO.
PE-backed Antengene trades flat after $359m HK IPO
Antengene, a China-based drug developer that previously raised $238 million across three private funding rounds, closed roughly flat on its first day of trading in Hong Kong following a HK$2.78 billion ($359 million) IPO.
PE-backed Perfect Diary jumps 75% on debut after $616m IPO
Yatsen Holding, the parent company of Chinese cosmetics brand Perfect Diary, gained 75% on its first day of trading on the New York Stock Exchange following a $616.9 million IPO.
Macquarie, Armitage-backed Nuix to list in Australia
Macquarie and Armitage Associates are both set to make partial exits when analytics software provider Nuix completes its Australia IPO.
Warburg Pincus, Advantage honored at AVCJ Awards
Warburg Pincus and Advantage Partners triumphed in the firm of the year categories at the 2020 AVCJ Private Equity & Venture Capital Awards, with The Carlyle Group and Affinity Equity Partners also among the winners with two trophies apiece.
VC-backed Chinese online education business files for US IPO
17 Education & Technology Group, a China-based education service provider that claims to pursue an integrated “in-school plus after-school” model, has filed for a US IPO.
China short video platform Kuaishou files for Hong Kong IPO
Kuaishou, a Chinese video sharing and social networking platform backed by the likes of Tencent Holdings, Sequoia Capital China, Boyu Capital and DST Global, has filed for a Hong Kong IPO.
China's JW Therapeutics trades up after $300m Hong Kong IPO
JW Therapeutics, a private equity-backed Chinese drug developer specializing in CAR T-cell therapies that engineer immune cells to fight cancers, has raised HK$2.33 billion ($300 million) through a Hong Kong IPO.
China cosmetics brand Perfect Diary files for US IPO
Yatsen Holding, the parent company of Chinese cosmetics brand Perfect Diary has filed for a US IPO, potentially delivering a liquidity event for the likes of Hillhouse Capital, ZhenFund and Gaorong Capital.
Regulators halt Ant Group's Shanghai, Hong Kong IPO
Private equity-backed Ant Group’s bumper IPO in Hong Kong and Shanghai has been put on hold by Chinese regulators over a potential failure to meet listing qualifications or disclosure requirements.
PE-backed Lufax follows $2.3b US IPO with weak debut
Online lending and wealth management platform Lufax raised $2.36 billion in the largest US IPO by a PE-backed Chinese company so far this year but endured a difficult first day of trading.
Warburg Pincus tips Converge to sustain rapid growth
Philippines-based broadband provider Converge ICT has completed the country’s largest-ever IPO on the back of a tenfold expansion in the past four years as local consumers sign up to highspeed internet services previously unavailable to them.
China's Miniso sees modest trading debut after $608m US IPO
Miniso, a Chinese low-cost retailer backed by Hillhouse Capital and Tencent Holdings, posted a small gain on its US trading debut following a $608 million IPO.
China carpooling player Dida pursues Hong Kong IPO
Dida Chuxing – a Chinese peer-to-peer carpooling business that subsequently expanded into ride-hailing, putting it in direct competition with longstanding market leader Didi Chuxing – has filed for a Hong Kong IPO.
Everest Medicines soars on debut after $451m IPO
Everest Medicines, a Chinese biotech start-up backed by CBC Group, performed strongly in early trading in Hong Kong following a HK$3.5 billion ($451 million) IPO.
PE-backed Chinese fintech player Lufax files for US listing
Lufax, a Chinese online lending and wealth management platform valued at $39.4 billion following its most recent private funding round, has filed for an IPO in the US.
PE-owned Adore Beauty targets $193m Australia IPO
Australia’s Quadrant Private Equity is set to make a first exit from its growth fund with online beauty retailer Adore Beauty announcing plans for a A$269.3 million ($192 million) IPO.
Genor Biopharma raises $372m in Hong Kong IPO
China-based Genor Biopharma, which counts Hillhouse Capital, Temasek Holdings and Qiming Venture Partners among its investors, has raised HK$2.88 billion ($372 million) through a Hong Kong IPO.
PE-backed Converge ICT set for $680m Philippines IPO
Converge ICT, a Philippines-based broadband internet provider that counts Warburg Pincus as an investor, is poised to raise PHP32.9 billion ($680 million) in the country’s largest-ever IPO.
PE-owned Asia data center business trades up after $540m IPO
Bain Capital-controlled data center operator Chindata Group Holdings gained 20% on its NASDAQ trading debut following a $540 million IPO.
PE-backed JD Health files for Hong Kong IPO
JD Health, the healthcare unit of Chinese e-commerce giant JD.com, has filed for Hong Kong IPO. The company’s backers include Hillhouse Capital, CPE, CICC Capital, and Baring Private Equity Asia.
PineBridge, Peter Thiel launch Southeast Asia-focused SPAC
Peter Thiel, co-founder of PayPal, Palantir Technologies and Founders Fund, has teamed up with PineBridge Investments and Pacific Century Group on a special purpose acquisition vehicle (SPAC) that will target new economy assets in Southeast Asia.
PE-owned Japan flash memory player postpones IPO
Kioxia Holdings, the Japanese flash memory business that a Bain Capital-led consortium acquired from Toshiba two years ago for an enterprise valuation of JPY2 trillion ($18.7 billion) has pulled the plug on its Tokyo IPO.
Asia exits: Liquidity lags
Private equity exits – outside of the public markets – are gradually emerging from a COVID-19 hibernation. But sellers must be mindful of timing, structure, and which buyers they are targeting