Exits
GIC, Temasek buy $1b of Alibaba shares from SoftBank
Singapore’s GIC Private and Temasek Holdings have bought a combined $1 billion of Chinese e-commerce giant Alibaba Group’s shares, as part of an $8.9 billion share sale by Japan’s SoftBank Group.
China announces new rules for GPs listing on New Third Board
China’s securities regulator said it would resume its approval of qualified private equity firms listing on the National Equities Exchange and Quotations (NEEQ), while imposing tighter listing requirements.
China GPs underline merits of sector focus
China GPs must respond to the country’s economic slowdown by paying closer attention to picking sectors that can outperform – and in which they can help drive that performance – industry participants told the Hong Kong Venture Capital & Private...
Intel Capital cancels plans for secondary sale
Intel Capital, the captive VC arm of Intel Corp, appears to have abandoned plans to offload some of its investments in technology companies, with Wendell Brooks (pictured), the unit’s president, saying there will be no major changes to the portfolio.
MBK-owned Komeda Coffee wins approval for Japan IPO
Komeda Coffee, a coffee shop chain owned by North Asia-focused MBK Partners, has won approval for a Tokyo IPO. The indicative price suggested the offering will be worth up to JPY60.2 billion ($547.4 million).
Kyobo Life bids for MBK-owned ING Life Korea
Kyobo Life Insurance, Korea’s third-largest insurer, has entered the bidding process for MBK Partners-owned ING Life Korea.
Deal focus: CITIC exits a bigger Tri-Wall
CITIC Capital Partners overcame strategic competition to buy a majority stake in Tri-Wall. After six years and significant financial and geographic expansion, it is exiting to a strategic player
Chinese manufacturer buys PE-owned Thermal Dynamics
China Zhejiang Yinlun Machinery, a Shenzhen-listed manufacturer of heat exchangers, has acquired US-based counterpart Thermal Dynamics International (TDL) for $56.65 million, facilitating a full exit to US private equity backer Evergreen Pacific Partners.
Samara exits India-listed Asian Oilfield Services
Samara Capital has exited its stake in Indian listed oil and gas exploration services provider Asian Oilfield Services to Mumbai-based energy exploration firm Oilmax Energy for INR300 million ($4.4 million).
PE-backed SF Express targets $6.6b Shenzhen reverse merger
China’s largest express delivery services provider SF Express, which is backed by several PE investors, is looking to list in Shenzhen through a reverse merger that values the business at RMB43.3 billion ($6.6 billion).
PE-backed Giant completes $2b backdoor listing in Shenzhen
Chinese online game developer Giant Interactive Group, which was taken private by a consortium of PE investors in conjunction with the company’s CEO, has completed a backdoor listing in Shenzhen that values the business at RMB13.1 billion ($2 billion).
India's IDFC completes part-exit via Parag Milk Foods IPO
IDFC Alternatives has concluded its partial exit from Indian dairy firm Parag Milk Foods via the company's IPO, realizing INR1.8 billion ($26.7 million) from the offering.
Sydney exchange creates small cap platform
The Sydney Stock Exchange (SSX) has initiated development of a blockchain-based equities market settlement and registration system that is expected to facilitate exits for VC firms.
CITIC Capital exits Tri-Wall to Japan's Rengo
CITIC Capital Partners has agreed to sell its majority stake in Tri-Wall Holdings, an Asia-focused heavy duty packaging business, to Japanese packaging manufacturer Rengo for $221.7 million.
Local GP ChinaEquity assumes control of A-share company
ChinaEquity Group, a private equity firm listed on the National Equities Exchange and Quotations (NEEQ), has acquired a controlling interest in an A-share listed company in what could be an attempt to move to the larger exchange.
Quadrant exits data center business to Infratil, Commonwealth Super
Quadrant Private Equity will exit Australia-based Canberra Data Centers (CDC) as listed infrastructure investor Infratil and Commonwealth Superannuation Corp. (CSC) agreed to buy a majority stake in the business for A$784 million ($565 million).
China's VC-backed Mobvista raises $80m after NEEQ listing
Mobvista, a Chinese mobile content distribution platform backed by several VC investors, has raised RMB522 million ($79.7 million) after listing on the National Equities Exchange and Quotation (NEEQ).
Hony, CIC among anchors for BOC Aviation IPO
Hony Capital and China Investment Corporation (CIC) are among the cornerstone investors for a HK$8.7 billion ($1.1 billion) Hong Kong IPO for Bank of China’s aircraft leasing business, BOC Aviation.
Fosun Pharma makes offer for India's KKR-backed Gland
Hong Kong-listed drug maker Fosun Pharmaceutical has made a non-binding proposal to acquire Gland Pharma, an Indian pharmaceutical developer backed by KKR.
China’s Wanda Cinema to acquire PE-backed Wanda Media for $5.7b
Wanda Cinema Line, China’s largest cinema chain operator, plans to acquire its movie-making affiliate Wanda Media, which is backed by several PE investors, for RMB37.2 billion ($5.7 billion) in a cash and stock swap.
VC-backed China Online Education files for US IPO
China Online Education Group, operator of VC-backed English-learning mobile app 51Talk, has filed for a US IPO.
CDH makes partial exit from Hong Kong-listed Luye Pharma
CDH Investments has made another partial exit from China-based drug developer Luye Pharma, generating proceeds of between HK$709 million ($91.4 million) and HK$729 million.
China take-privates: Dangerous demand?
Once the preserve of private equity players, now investors of all kinds are lining up to participate in privatizations of US-listed Chinese firms, with a view to targeting the A-share market. Regulators are getting worried
IDG-backed Super Sports set for reverse merger in Hong Kong
Two funds managed by IDG Capital Partners will make partial exits from Super Sports Media – which holds the mainland China broadcast rights for English Premier League football matches – through a reverse merger with Hong Kong-listed comic book publisher...