IPO

Carlyle to list Chimney in December

The Carlyle Group is to sell part of its stake in Japanese restaurant chain operator Chimney through an IPO in December, its third attempt to list a Japanese asset this year.

IFC to anchor Fosun Pharma's Hong Kong IPO

International Finance Corporation (IFC), the investment arm of the World Bank, is expected to anchor Shanghai Fosun Pharmaceutical’s Hong Kong IPO alongside Prudential Financial. The total cornerstone commitment is $75 million out of a targeted $600 million...

Partners VC buys stake in Korea's Panax Etec

Partners Venture Capital has purchased a 10% stake in Panax Etec, a South Korean battery electrolyte manufacturer, for KRW10 billion ($9 million). The investment facilitates the partial exit of Samsung Venture Investment and Bokwang Investment.

Baring-backed Courts Asia targets $112m IPO

Baring Private Equity Asia (BPEA) portfolio company Courts Asia has launched its Singapore IPO with a view to raising S$137 million ($112 million). The electronics and furniture retailer is offering 178 million shares, of which 60 million are new shares,...

CVC considers Matahari share sale – report

CVC Capital Partners has reportedly asked bankers to advise on selling shares in Matahari Department Store, the Indonesian retailer it acquired two years ago for INR7.2 trillion ($616.3 million). It remains the largest ever private equity investment in...

Baring PE Asia in new attempt at Courts IPO

Baring Private Equity Asia has resumed efforts to list electronics and furniture retailer Courts Asia in Singapore. The PE firm, which controls Courts through Asia Retail Group, attempted an IPO in 2010 but withdrew the offer due to valuation concerns....

Carlyle-backed Tsubaki Nakashima drops IPO plan

Tsubaki Nakashima, a Japanese steel ball-bearings maker 95% owned by The Carlyle Group, has called off plans for a $555 million IPO, citing weak market conditions. This is the second time in six months that a Carlyle portfolio company in Japan has tried...

Goldman, Temasek to part-exit Bharti Infratel via $1b IPO

Goldman Sachs, Temasek and Nomura are among the investors planning to offload part of their shareholdings in the mobile phone tower unit of Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, which has filed for an IPO.

  • Exits
Just Dial re-files for IPO, VCs plan partial exit

Just Dial, the Indian online listings provider, has filed for a domestic IPO that will see its venture capital investors exit a portion of their holdings. After an earlier attempt to list was shelved due to market uncertainty, the company completed a...

Carlyle mulls Coates Hire IPO

The Carlyle Group, together with Australia's Seven Group, is considering an IPO of Australian equipment rental company Coates Hire. The news comes weeks after banks agreed to refinance the company’s A$1.85 billion ($1.9 billion) in debt.

Creador takes proprietary route to MNC IPO

One of the biggest criticisms leveled at private equity firms that anchor IPOs is that LPs expect them to do proprietary investments. When Saban Capital and Creador Capital performed the anchor role for MNC Skyvision’s $228 million offering earlier this...

Creador confirms MNC Skyvision investment

Creador Capital has confirmed it invested $28 million in Indonesian pay TV operator MNC Skyvision’s IDR2.15 billion ($228 million) IPO. The committed capital includes $13 million from a co-investor.

Cornerstone investors: Public market props
Cornerstone investors: Public market props

Weak investor sentiment means that many Asian IPOs need cornerstone investors to cover part of the offering and provide momentum. Why are private equity firms getting in on the action?

IHH raises $2b from IPO, Abraaj Capital exits

IHH Healthcare, the hospital operator owned by Malaysian sovereign wealth fund Khazanah Nasional, has raised MYR6.3 billion ($2 billion) from its IPO after pricing the offering near the top of the indicative range. Abraaj Capital fully exited its holding...

Q2 analysis: Private equity goes public

Second-quarter analysis: Low public market valuations create investment opportunities; China fundraising slows; private equity firms perform cornerstone role in Asia IPOs.

Saban, Creador anchor $228m MNC Skyvision IPO

Saban Capital Group and Creador Capital have acted as anchor investors in the IPO of MNC Skyvision, the largest pay TV company in Indonesia. The company, which began trading on the Indonesia Stock Exchange on Monday, raised IDR2.15 billion ($228 million)...

PE-backed China Yongda returns with scaled down IPO

China Yongda Automobile Services has re-launched its IPO a month after pulling out of the Hong Kong listing due to weak market demand. The company has reduced its price to HK$6.60 per share, down from a range of HK$7.60-10.80, and cut the size of the...

Milestone backs China restaurant chain IPO

Milestone Capital Partners has agreed to become a cornerstone investor in Chinese restaurant chain Xiao Nan Guo’s Hong Kong IPO. The company is looking to sell 341.25 million shares at HK$1.50 to raise HK$511.5 million ($65.9 million). A Milestone subsidiary...

Indonesian pay-TV operator targets $260m IPO

PT MNC Skyvision has reduced the fundraising expectations for its IPO this summer from $400 million to $260 million. Saban Capital Group was previously reported to have expressed interest in becoming an anchor investor.

Private investors back IPO of Khazanah's healthcare arm

Blackrock, Capital Group and Och-Ziff Capital Management Group have agreed to become cornerstone investors in the proposed $2 billion IPO of Malaysia's Integrated Healthcare Holdings (IHH), which is owned by Khazanah Nasional.