Exits
China’s VC-backed CanSino raises $748m in Star Market IPO
Chinese vaccine developer CanSino Biologics, which counts Lily Asia Ventures (LAV) and Qiming Venture Partners among its investors, has raised RMB5.2 billion ($748 million) in an IPO on Shanghai’s Star Market.
Chinese EV manufacturer Xpeng pursues US IPO
Xpeng Motors, a Chinese electric vehicle (EV) manufacturer backed by Alibaba Group and several PE and VC firms, has filed for a US IPO.
Navis exits Malaysian business solutions player
Navis Capital Partners has sold its controlling stake in Malaysian IT firm Strateq to a local subsidiary of Singapore telecommunications company StarHub.
China IPOs: Onshore attraction
The valuations available on China's booming Star Market are prompting US dollar managers to consider restructuring companies for onshore listings. How long will the fervor last?
Microsoft seeks to acquire TikTok assets from China's ByteDance
Microsoft Corporation wants to continue discussions over the purchase of the US operation of TikTok from PE-backed Chinese technology giant ByteDance amid threats from US President Donald Trump to ban the short video platform.
China's Li Auto gains 43% on debut after $1.1b US IPO
Chinese electric vehicle manufacturer Li Auto closed up 43% on its first day of trading on NASDAQ following a $1.1 billion IPO.
Chinese real estate platform Beike pursues US IPO
Beike, a Chinese online real estate platform backed by Tencent Holdings, SoftBank Vision Fund and Hillhouse Capital, has filed for US IPO.
SPACs: Flavor of the month
Special purpose acquisition companies (SPACs) are gaining popularity among private equity investors in Asia. While these structures have various attractive qualities, they aren't for everyone
Steadview backs India SaaS player Freshworks
Steadview Capital has invested $85 million in India and US-based cloud business software developer Freshworks through the purchase of shares from existing investors.
OMERS acquires 20% stake in Australia's TransGrid
Canada’s Ontario Municipal Employees Retirement System (OMERS) has bought a 20% stake in Australian electricity network operator TransGrid for an undisclosed sum.
PE-backed Cambricon becomes China's first listed AI chip maker
Beijing-based Cambricon Technology, which is backed by CICC Capital, Alibaba Group, and Lenovo, has listed on the Star Market. It is the first Chinese artificial intelligence (AI) chip manufacturer to complete an IPO.
Canyon Bridge, K2 Venture founders join Asia SPAC wave
Two more groups featuring Asian private equity executives have listed special purpose acquisition companies (SPACs) on US bourses as interest in these structures continues to rise globally.
PE-backed Junshi Biosciences shines on Star Market debut
PE-backed Junshi Biosciences has become the first Chinese biotech company to list in Hong Kong and the mainland, following a strong debut on Shanghai's Star Market.
Australia: Retail realities
Not all bankruptcies can be blamed solely on COVID-19; neither is private equity ownership necessarily bad news for retailers. As recent experiences in Australia demonstrate, evolution and execution are key
2Q analysis: Numbers that deceive
Asia has seen remarkable revivals in private equity investment and fundraising – though not in exits – over the past three months. A handful of large-cap situations mask a weak environment
India's Unacademy moves to form edtech group
Indian online education platform Unacademy has acquired a majority stake in industry peer Mastree. It is the company's second acquisition in recent weeks, suggesting a consolidation strategy within the space.
Large-cap vehicles support PE fundraising revival in second quarter
Asia private equity fundraising rebounded from a seven-year low in the first quarter of the year to reach $24 billion for April through June, but commitments were concentrated on a handful of managers.
Ocumension climbs on debut after $184m Hong Kong IPO
Ocumension Therapeutics, a Chinese drug developer targeting eye diseases that counts Boyu Capital and Temasek Holdings among its backers, posted a 152% gain on debut following a HK$1.5 billion ($200 million) Hong Kong IPO.
China EV maker Li Auto pursues US listing
Li Auto, a Chinese electric vehicle manufacturer that has been backed by online-to-offline (O2O) services giant Meituan Dianping, has filed for a US IPO.
Portfolio: CBC Group and I-Mab Biopharma
CBC Group’s stewardship of I-Mab Biopharma brings an intensely hands-on platform-based approach to a booming China biotech space often characterized by relatively passive strategies
VinaCapital, Daiwa sell stake in Vietnam dairy producer
Vietnam’s VinaCapital and Japan’s Daiwa PI Partners are poised to make a partial exit from Vietnamese dairy producer International Dairy Products (IDP).
China gay dating app Blued raises $85m in US IPO
BlueCity Holdings, the VC-backed holding company for Chinese gay dating platform Blued, traded strongly after raising $84.8 million through a NASDSAQ IPO.
Korea's ACE Equity launches SPAC targeting IT infrastructure
Korean private equity firm ACE Equity Partners has taken another step in the development of its cross-border investment capabilities with the launch of a US-listed special purpose acquisition company (SPAC) to pursue IT infrastructure assets.
Warburg Pincus set for part-exit from Jinxin Fertility
Warburg Pincus will sell an approximately 5.5% interest in Hong Kong-listed IVF services provider Jinxin Fertility for about HK$1.5 billion ($194 million) through a share placement.