Exits
China's Cootek struggles on trading debut, vows to push forward
CooTek – the VC-backed Chinese app developer behind the TouchPal smart phone keyboard – shrugged off a disappointing trading debut in New York and pledged to cultivate new products with a view to easing reliance on its flagship offering.
China's Liulishuo posts modest gain following $72m US IPO
Liulishuo, a Chinese English language learning app that uses artificial intelligence (AI) to deliver customized teaching solutions for adults, ended its first day of trading on the New York Stock Exchange up 1.2%.
PE-backed Chinese crypto player set for Hong Kong IPO
Bitmain, a five-year-old Chinese company that is the dominant global player in manufacturing chips for bitcoin mining, with revenues ballooning nearly tenfold to $2.5 billion last year, has filed for a Hong Kong IPO.
China signals easing of listing rules for tech companies
China has issued guidelines for domestic listings by pre-profit technology start-ups as well as companies with weighted voting rights (WVR) structures that allow founders to retain control despite dilution of their shareholdings.
CVC to buy legal services provider UnitedLex
CVC Capital Partners has agreed to acquire a majority stake in UnitedLex, a legal process outsourcing firm based in the US, with significant operations in India, and backed by investors including Madison Capital, Helion Venture Partners, and J.P. Morgan...
AGIC exits Italian robotics business for $436m
AGIC Capital, a private equity firm focused on cross-border investments, has exited its stake in Italian robotics supplier Gimatic to US-based industrial products manufacturer Barnes Group for EUR370 million ($436 million) in cash.
China's HighLight to exit US-based biotech player Bonti
Chinese healthcare-focused GP HighLight Capital is set to exit its position in US-based biotechnology company Bonti after Allergan agreed to acquire the business for $195 million, plus additional payments if certain development targets are met.
Meituan-Dianping gains on debut after $4.2b Hong Kong IPO
Chinese online-to-offline (O2O) lifestyle services platform Meituan-Dianping gained 5.3% on its trading debut in Hong Kong following a HK$33.1 billion ($4.2 billion) IPO.
China technology: Burnout
Questions about the sustainability of Meituan-Dianping's expansion strategy suggest that even newly listed unicorns are not immune to the changing sentiment in China's technology sector
PE-backed WuXi AppTec targets Hong Kong listing
Wuxi AppTec, a contract pharmaceutical R&D services provider backed by several private equity investors, has filed for a Hong Kong listing less than four months after listing in Shanghai. The size and pricing of the IPO have yet to be decided, but the...
Anacacia sells Australian chilled food business
Anacacia Capital has exited Yumi’s Quality Foods, an Australian chilled food manufacturer that it acquired in 2014, to George Weston Foods (GWF) for an undisclosed sum.
Renminbi fundraising: Winter has come
A two-year renminbi fundraising boom in China has ended abruptly due to a combination of controversy, regulatory intervention, and dwindling investor sentiment. But the market may benefit in the long term
China's Qutoutiao soars on debut after $84m US IPO
Chinese news aggregator app Qutoutiao raised $84 million in a downsized US IPO – continuing a recent trend among Chinese tech start-ups – but then saw its stock price more than double on the first day of trading.
China Renaissance set for wealth management push
China Renaissance Holdings is planning an aggressive push into wealth management services, targeting high net worth individuals in China’s new economy, with proceeds from its upcoming Hong Kong IPO.
PE-backed Chinese online pharmacy completes $100m US IPO
Chinese online pharmacy operator 111 Inc – best known for its 1 Drugsstore platform – traded down slightly on its NASDAQ debut after raising $100.5 million in a scaled back IPO.
CHAMP exits Australian forex broker Pepperstone
CHAMP Private Equity has exited Australian foreign exchange broker Pepperstone following a buyout by its founders, senior management and Fiona Lock, a managing director at the PE firm.
China's Nio trades up after smaller-than-expected US IPO
Chinese electric vehicle (EV) maker Nio – which claims its premium vehicle is cheaper and better quality than the Tesla Model X – ended its first day of trading in New York 5.4% above the IPO price following a $1 billion offering.
Southeast Asia VC: Partner propositions
Strategic investors, particularly from China, are playing a growing role in Southeast Asia’s technology scene. Venture capital investors in the region hope their portfolio companies can benefit from the rising tide
IFC-backed Angel Broking files for India IPO
Indian financial services provider Angel Broking has filed for an IPO that will raise up to INR6 billion ($83 million) and provide a partial exit to the International Finance Corporation (IFC).
Finch secures 2.7x return on Indonesia's Cermati
Early-stage technology investor Finch Capital has sold its minority stake in Indonesian financial technology developer Cermati to local conglomerate The Djarum Group, realizing a 2.7x return on capital in its first exit in Indonesia.
Meituan-Dianping targets $4.4b IPO, promises domestic focus
Meituan-Dianping, China’s leading online-to-offline (O2O) lifestyle services platform, is looking to raise up to HK$34.6 billion ($4.4 billion) in its Hong Kong IPO, while emphasizing that it will focus on its core domestic business rather than pushing...
MBK to sell stake in Korean life insurer for $2b
MBK Partners is set for a full exit from ING Life Korea – now known as Orange Life Insurance – after agreeing to sell its majority stake to Shinhan Financial Group for KRW2.29 trillion ($2.04 billion).
Orchid, TPG-backed Duiba files for Hong Kong IPO
Duiba, a Chinese enterprise services company in which Orchid Asia and TPG Capital recently invested $110 million, has filed for a Hong Kong listing.
L Catterton-owned menswear brand targets HK listing
China-based fashion menswear retailer GXG, in which consumer-focused GP L Catterton Asia and Crescent Point hold a controlling stake, has filed for an IPO in Hong Kong.