Exits
VC-backed Chinese e-cigarette company targets US IPO
Relx Technology, a Chinese e-cigarette producer backed by Source Code Capital and Sequoia Capital China, has filed for an IPO in the US.
Singapore's VC-backed GoBear to wind down
GoBear, a Singaporean financial technology start-up that received VC backing as recently as May, will cease operations and begin a phased closure of the business, citing pandemic-related disruption.
Applied Materials revises offer for Japan's Kokusai Electric
Applied Materials, which agreed to acquire Japanese semiconductor industry supplier Kokusai Electric from KKR 18 months ago, has increased its offer for the company from $2.2 billion to $3.5 billion.
Delivery Hero wins approval for Woowa deal in Korea
Private equity investors in Korean food delivery business Woowa Brothers look set for a liquidity event after regulators gave conditional approval for a $4 billion acquisition by Delivery Hero.
PE-backed WealthNavi soars on Tokyo debut
Japanese financial technology start-up WealthNavi gained 100% on its trading debut following a JPY17.9 billion ($172.9 million) IPO that facilitated partial exits for Gree Ventures, Infinity Venture Partners, and Global Brain.
Platinum agrees $398m exit from Asia precision manufacturer
Platinum Equity has sold Compart Systems, a Singapore-headquartered metal components manufacturer, to Shanghai Wanye Enterprises for a valuation of approximately $398 million.
OTPP backs Korean fried chicken chain at $1.6b valuation
Ontario Teachers’ Pension Plan (OTPP) has invested in Korean fried chicken restaurant franchisor BHC Group at an enterprise valuation of KRW1.8 trillion ($1.6 billion), facilitating a full exit for Elevation Equity Partners.
Partners Group invests $250m in India's Ecom Express
Partners Group has committed at least $250 million to Indian door-to-door delivery specialist Ecom Express, facilitating a partial exit for controlling shareholder Warburg Pincus.
2020 in review: Surprise guest
The coronavirus pandemic has played havoc with Asian private equity, contributing to a resurgence in IPOs, increased bifurcation in fundraising, a rush for healthcare, and a generally staggered revival
Deal focus: Everstone secures 3x return on outsourcing play
Everstone Group helps outsourcing specialist Everise adapt to the work-at-home realities of the day before exiting the business to Brookfield Asset Management
PE-backed Pop Mart posts strong gain after $674m HK IPO
Pop Mart International Group, China’s largest fashion toy retailer, gained 79% on its Hong Kong trading debut following a HK$5.22 billion ($674 million) IPO.
Deal focus: Japan GPs see upside in specialized staffing
CLSA Capital Partners’ sale of Japanese staffing services player Qit to Advantage Partners reveals enduring private equity interest in potentially shaky categories made sturdy by specialization
PE-backed Harbour BioMed raises $221m in Hong Kong IPO
Harbour BioMed, a Chinese drug developer backed by the likes of Advantech Capital, Legend Capital and GIC, raised HK$1.71 billion ($221 million) through a Hong Kong IPO.
Everstone exits Singapore BPO business to Brookfield
Everstone Group has agreed to sell Everise, a business process outsourcing (BPO) company it formed through the amalgamation of several existing assets, to Brookfield Asset Management.
Australia IPOs: Window of opportunity
Australian public market investors are famously unforgiving of private equity when IPOs fail to perform. The markets are open for business again, but how long will the golden period last?
CLSA sells Japan outsourcing business to Advantage
CLSA Capital Partners has sold Japan-based industrial sector human resources outsourcing business Qit to Advantage Partners for an undisclosed sum.
KV Asia exits Malaysian grocery retailer to ICG
Southeast Asia-focused private equity firm KV Asia Capital has exited TF Value Mart (TFVM), a Malaysia-based grocery retailer in which it has held a controlling stake since 2016, to Intermediate Capital Group (ICG).
PE-owned Burger King India pursues $110m IPO
The Indian franchise of US fast food giant Burger King will launch its IPO this week seeking to raise up to INR8.1 billion ($109.5 million), facilitating a partial exit for majority shareholder Everstone Group.
Advent set for partial exit in Silk Laser's Australia IPO
Silk Laser Clinics, an Australia-based cosmetic treatments business, is looking to raise A$83.4 million ($61.5 million) through a domestic IPO, which will facilitate a partial exit for majority owner Advent Partners.
JD Health targets largest Chinese PE-backed IPO in two years
JD Health, a Chinese online-to-offline healthcare business that raised around $1.9 billion from private investors after it spun out from JD.com, is looking to raise HK$26.9 billion ($3.48 billion) in its Hong Kong IPO.
Warburg Pincus set for another partial exit from ESR
Warburg Pincus has agreed to make another partial exit from ESR, the pan-Asian logistics real estate platform it established in 2011 and took public last year, which will see its stake fall to 4.56%.
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.