Exits
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.
China IPOs: Star attraction
Having previously focused on offshore IPOs, China managers with US dollar funds are now considering the Star Market. But going onshore means more regulation as well as high valuations
China's Ucommune acquired by US-listed SPAC for $765m
Ucommune, a Chinese co-working space operator that failed to get traction with an attempted New York IPO last year, has been acquired by a US-listed special purpose acquisition company (SPAC) at a valuation of $764.9 million.
TA Associates invests in Indian stock exchange
TA Associates has invested an undisclosed sum in the National Stock Exchange of India (NSE).
PE-backed Hygeia completes $286m Hong Kong IPO
Chinese radiotherapy business Hygeia Healthcare, which counts Warburg Pincus, Boyu Capital, and CITIC Capital among its investors, raised HK$2.22 billion ($286.4 million) in its Hong Kong IPO.
China healthcare IPOs: Good prognosis?
There has been a steady stream of China healthcare IPOs - most of them drug developers - on the domestic, Hong Kong and US bourses in recent months. They might be benefiting from a COVID-19 tailwind but it won't be permanent
PE-owned Australian swimwear brand enters administration
Seafolly, an Australian swimwear and beachwear brand owned by L Catterton Asia, has entered administration, citing the “crippling financial impact” of the COVID-19 pandemic.
China's Agora more than doubles in value after $350m US IPO
Agora.io, a real-time voice and video communication platform established by Tony Zhao, formerly CTO of Chinese social networking player YY.com, saw its stock gain 151% on its NASDAQ trading debut following a $350 million IPO.
Tencent buys Malaysia streaming platform Iflix
Tencent Holdings has agreed to acquire the assets of Malaysia-headquartered streaming platform Iflix, which was previously backed by a number of private equity and strategic players.
VC-backed SinocellTech enjoys strong Star Market debut
Chinese drug developer SinocellTech nearly trebled in value on its first day of trading on China's Science and Technology Innovation Board (Star Market) following a RMB1.28 billion ($181 million) IPO.
Southern Capital, HPEF agree exit from Singapore school
Southern Capital Group and HPEF Capital Partners – formerly Headland Capital Partners – have agreed to sell Singapore-based Canadian International School (CIS) to Hong Kong-listed China Maple Leaf Educational Systems for S$680 million ($488 million),...
Toshiba seeks exit from PE-controlled flash memory business
Toshiba is exploring ways to fully exit its 40.2% stake in Kioxia Holdings, two years after selling control of the Japanese flash memory division to a Bain Capital-led consortium for an enterprise valuation of JPY2 trillion ($18.7 billion).
Chinese IPOs: One less option
Will Chinese companies listed in the US become the latest casualties of tensions between the two countries? It could lead to a narrowing in IPO exit options for PE and VC investors
China's Genetron trades flat after upsizing US IPO
Genetron Holdings, a Chinese company that uses DNA sequencing to support the diagnosis and treatment of cancer, traded flat on its NASDAQ debut following a larger-than-planned $256 million IPO.
China gay dating app Blued pursues US IPO
BlueCity Holdings, the company behind Chinese gay dating platform Blued, has filed an application to list on NASDAQ, which would provide a liquidity event for several PE and VC investors.
Ascendent to exit China dairy player through $240m trade sale
Ascendent Capital Partners has agreed to make a full exit from Chinese dairy producer Ningxia Harmony Dairy Development with New Hope Dairy set to buy the business for an enterprise valuation of RMB1.7 billion ($240 million).
India's Happiest Minds Technologies files for IPO
Indian IT outsourcing company Happiest Minds Technologies, which is backed by J.P. Morgan Asset Management, has filed for an initial public offering.
China's Burning Rock soars on debut after $222m US IPO
Burning Rock Biotech, a venture capital-backed, China-based provider of genetic testing services used in cancer diagnosis, rose 49% on its trading debut following a $222.8 million US IPO.
China's Dada Nexus trades flat after $322m US IPO
Dada Nexus, a Chinese last-mile delivery platform backed by the likes of JD.com, Walmart, Sequoia Capital China, and DST Global, traded flat on its NASDAQ debut following a $320 million IPO.
STIC-backed Korean game publisher files for US IPO
DoubleDown Interactive, a STIC Investments-backed Korean online game publisher best known for its flagship casino offering, has filed to list in the US.