Regulation
Buyout approvals: Holding pattern
Taiwan’s Financial Supervisory Commission has put forward guidelines intended to make the approvals process for PE-backed take-privates more transparent. Industry participants are cautiously optimistic
China's securities regulator to resume IPOs
China’s securities regulator has said it will resume the domestic initial public offerings (IPOs), lifting a three-month suspension on new listings that was imposed in response to market turmoil in July.
Philips uncertain over Lumileds sale to China's Go Scale
Dutch electronics giant Philips has cast doubt on the sale of its LED components and automotive lighting unit to a Chinese private equity consortium as it emerged that US regulators were looking into the deal.
Australian regulator flags concerns about Brookfield's Asciano deal
Australia’s competition regulator has raised concerns about Canada-based Brookfield Asset Management’s A$8.9 billion ($6.5 billion) cash-and-stock acquisition of listed rail freight and cargo port operator Asciano.
ESG in infrastructure: Laying the groundwork
Environmental regulations in Asia are not keeping track with the needs of local markets. PE professionals say investors can take the lead in developing and enforcing necessary standards
Asian GPs improving on ESG awareness - AVCJ Forum
The impetus for environment, social and governance (ESG) issues achieving greater prominence in PE comes from Europe, but Asian GPs are not necessarily so far behind their counterparts in developed markets.
Q&A: PRI's Fiona Reynolds
The UN-sponsored Principles for Responsible Investment (PRI) initiative has extended its coverage into private equity in recent years. Managing Director Fiona Reynolds offers a snapshot of her findings
Social and governance: A good neighbor
Social and governance issues may not command the same level of attention as environmental factors, but GPs are nevertheless highly aware of their importance - before and after making an investment
Chinese regulator provides guidance on insurers setting up PE funds
China's insurance regulator has broadened insurance company’s permitted investment areas through their private equity funds, the latest effort to allow greater exposure to alternative assets.
Korean conglomerates: Governance gridlock
The shareholder spat between Samsung and Elliott Management put Korea’s corporate governance shortfalls under the spotlight, but industry participants don’t expect to see the chaebol brought into line
India's One97 to split e-commerce, payments businesses - report
Indian mobile services One97 Communications will spin off its electronic payment service Paytm into a separate entity under One97's co-founder Shekhar Sharma.
Worst case scenarios: How GPs recover value
There are various ways for PE investors to seek legal recourse against portfolio companies that have behaved improperly – provided they have structured deals properly and don’t mind getting their hands dirty
Graybeards: External directors and PE portfolio companies
Just over eight years ago, I penned an article for another publication on the role of independent directors at Chinese state-owned enterprises (SOEs). This was mid-2007, and China Construction Bank (CCB), Bank of China (BoC) and Industrial & Commercial...
Hong Kong profit tax: Breakthrough
The move to extend the profit tax exemption for offshore funds in Hong Kong to include private equity has been more than two years in the making. After various lobbying efforts, plans to extend the exemption – already enjoyed by the hedge fund industry...
Hong Kong introduces tax exemption for private equity
The Hong Kong government has extended the profits tax exemption for offshore funds – from which the hedge fund industry already benefits – to include private equity.
US infrastructure: Mind the gap
The fact that the US needs to improve much of its public infrastructure is undisputed. But the fragmented nature of the market and politicization of deals still leave private investors frustrated
US-listed Chinese companies: Compliance costs
Chinese mobile game publisher iDreamSky Technology went public on NASDAQ in August 2014 after raising $116 million in its IPO. This windfall came with a price tag: the company paid $4.65 million in costs, most of it in accounting and legal expenses. A...
India to create trading platform for technology start-ups
The Securities and Exchange Board of India (SEBI) has provided details on plans for a trading platform for technology start-ups as it seeks to make it easier for companies to go public domestically. The regulator has also decided on measures to streamline...
PE-backed Focus Media’s backdoor listing encounters hurdles
Private equity-backed Focus Media’s planned $7 billion reverse merger with Shenzhen-listed Hongda New Material has encountered another setback following the resignation of Hongda's chairman in response to a probe by authorities.
Onshore IPOs and China VIEs: Replacement capital?
With Chinese entrepreneurs considering domestic IPOs, foreign VCs face the prospect of having to sell off investments in restricted industries. But the trend can only be sustained as long as valuations remain high
China regulator allows 100% foreign ownership in e-commerce
China's Ministry of Industry and Information Technology (MIIT) has permitted foreign investors to fully own and operate e-commerce companies operating within the country.
VIDEO: Guernsey Finance's Dominic Wheatley
Investors are increasingly looking to run their activities through high quality rather than mass-market jurisdictions in response to stricter regulatory scrutiny, according to Dominic Wheatley, CEO of Guernsey Finance
Corporate governance: Thin end of the wedge?
Japan’s corporate governance code will not trigger a torrent of non-core divestments, but it may encourage boards to think strategically about how – and with whom – they can improve performance
Malaysia unveils six equity crowdfunding platforms
The Securities Commission of Malaysia (SC) has announced six registered crowd equity platforms that will be allowed to raise capital for small businesses and start-ups.