IPO
PE-backed China Cinda to raise $2.5b in Hong Kong IPO - report
PE-backed China Cinda Asset Management Corp, one of four groups set up to absorb non-performing loans (NPLs) from the country’s Big Four state-owned banks, is expected to raise up to $2.5 billion in its Hong Kong IPO.
VC-backed 500.com revises IPO pricing, targets $86.5m
VC-backed Chinese online sports lottery provider 500.com has increased the indicative price range for its US IPO, putting the company on course to raise up to $86.5 million.
China to modify IPO approvals system
The China Securities Regulatory Commission (CSRC) will move towards a registration-based system for IPOs in place of the current approval-based system. This is intended to make it easier for companies, especially smaller ones, to raise capital.
Australian Tax Office warns foreign investors on compliance
The Australian Taxation Office (ATO) has written to 130 private equity firms offering to “assist with their compliance” as it scrutinizes the pipeline of upcoming IPOs to ensure foreign investors don’t avoid paying local tax.
Temasek, Greenwoods back Phoenix Healthcare IPO
Temasek Holdings and Shanghai-based Greenwoods Investment have made a pre-IPO investment in Phoenix Healthcare Group, picking up a 10% stake in the company for RMB165 million ($26.8 million).
Exits: Stuck in China
The weak IPO market has left many China PE firms holding assets for longer than expected. While growth deals will remain dominant, there will be change in how and with whom they are done
PE-backed Shuanghui eyes $6b HK IPO - report
Shuanghui International Holdings, the PE-backed Chinese meat processing company which recently acquired US pork producer Smithfield Foods, has reportedly hired six banks as sponsors for its intended $6 billion Hong Kong IPO next year.
Globis, Intel-backed V-Cube files for Tokyo IPO
V-Cube,a Japanese developer of web-conferencing and webinar systems backed by Intel Capital and Globis Capital Partners, has filed for its Tokyo IPO.
KKR targets $474m Bis Industries IPO – report
KKR is reportedly planning a December IPO for Australian mining logistics company Bis Industries, with marketing to institutional investors to begin this week.
Apollo, Oaktree-owned Nine Entertainment targets $658m IPO
Australian TV network Nine Entertainment - which is backed by US hedge funds Oaktree Capital Group and Apollo Global Management - is looking to raise up to A$697 million ($658 million) in its IPO set for December. The capital raised will be use to pay...
Qunar shares nearly double on NASDAQ debut
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, saw its stock nearly double on the first day of trading on NASDAQ on Friday. It betters the 42% gain posted by VC-backed Chinese classifieds website 58.com a day earlier.
Hony-backed Hydoo raises $200m in HK IPO
Hydoo International Holdings, a Chinese commercial real estate developer backed by Hony Capital, has raised more than $200 million in a Hong Kong IPO.
Baidu, VC-owned Qunar ups US IPO target
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, has increased the indicative price range for its forthcoming IPO and is now expected raise as much as $155.4 million.
China classifieds site sees shares close up 42% on US debut
Chinese online marketplace 58.com – a classifieds website along the lines of Craigslist, backed by Warburg Pincus, SAIF Partners and DCM – saw its shares close up 42% on the first day of trading on the New York Stock Exchange. Coming in the wake of 58.com’s...
Chinese game developer Boyaa plans $133m HK IPO
Boyaa Interactive, a Chinese developer of online board and card games backed by Sequoia Capital, intends to raise as much as HK1.03 billion ($133 million) through an IPO in Hong Kong. It is the third game developer to pursue a listing in the city this...
Jafco-backed Ride On Express files for Japan IPO
Ride On Express, a Japanese food delivery franchise operator backed by Jafco Ventures, has filed for a Tokyo IPO.
Startive Ventures-backed Freelancer targets small-cap IPO
Online jobs marketplace Freelancer.com has filed for its initial public offering on the Australian Securities Exchange with a view to raising A$15 million ($14.43 million). Startive Ventures owns 42% of Freelancer, chief executive Matt Barrie has 50%...
VC-backed Chinese lottery site files for $150m US IPO
VC-backed Chinese sports lottery provider 500.com has made an initial filing to raise around $150 million through an IPO on the New York Stock Exchange.
China's Sungy Mobile targets $80m US IPO
Sungy Mobile, a Chinese app developer backed by IDG Capital Partners, JAFCO, WI Harper and China Broadband Capital (CBC), is targeting a $80 million IPO and a listing on the New York Stock Exchange. The company, which focuses on apps, widgets and functions...
Quadrant plans IPO for Australia's Burson Auto Parts – report
Quadrant Private Equity is reported to be planning an IPO of Burson Auto Parts, two years after acquiring the company.
Baidu, VC-backed Qunar sets terms for $127m US IPO
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, is seeking to raise up to $127.8 million through its NASDAQ IPO. The company is also backed by GSR Ventures and GGV Capital, neither of which will sell any shares in the offering....
Chinese online marketplace 58.com sets terms for $165m US IPO
Chinese online marketplace 58.com is seeking raise up to $165 million through its New York Stock Exchange IPO. The company’s venture capital investors – Warburg Pincus, SAIF Partners and DCM – will not sell any of their shares in the offering.
MSPEA set for partial exit as Hyundai Rotem IPO raises $585m
Hyundai Rotem, a train manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), will complete the fourth-largest IPO ever executed on the Korea Exchange and the biggest in more than three years. The offering will generate proceeds of KRW622.4...
3Q analysis: Haves and have nots
Third quarter analysis: Fundraising fortunes become ever more polarized; Korea continues to be the stand-out buyout market, while India shows growth from a very low base; China IPOs are on the comeback trail