IPO
US regulator gets access to Chinese audits
The threat of delisting that has haunted Chinese companies that trade on US exchanges appears to have receded after the US regulators announced they had gained full access to the audits of these companies for the first time.
2023 preview: Exits
IPOs and trade sales have been muted in 2022, but industry participants expect strategic investors to be more active in Asia next year, especially as valuations moderate. Increased secondary deal flow is also likely
2023 preview: Southeast Asia VC
Southeast Asia VC is in fair position to hobble through a global downturn and cooling appetite for all things tech despite controversial politics in the region’s largest market and a dicey IPO outlook
2023 preview: Japan middle market
Confidence in Japan’s middle market is whipping up new deal flow, new funds, and new exit channels that will play out in 2023. This includes the possible reanimation of a dormant IPO market
2022 in review: End of the party?
Fundraising favours the few; deployment becomes progressively slower as investors agonise about valuations, macro prospects, and financing costs; sponsor-to-sponsor deals prop up exits
ACE Equity-backed SPAC acquires US electronics player
ACE Convergence Acquisition Corp, a special purpose acquisition company (SPAC) sponsored by Korean PE firm ACE Equity Partners, has completed a merger with US-based electronics manufacturer Tempo Automation. The equity valuation of the business was cut...
India's Five Star completes $195m IPO, GPs make partial exits
Five Star Business Finance, an Indian non-banking financial company (NBFC) that has received several rounds of private funding, gained 3% on debut following an INR 15.9bn (USD 195m) domestic IPO.
GPs seek alternatives in absence of US IPOs – AVCJ Forum
Private markets investors have responded to the drop-off in US IPO activity by exploring listings within Asia, while M&A is expected to play a more important role, the AVCJ Private Equity & Venture Forum heard.
BPEA EQT, Blackstone, PEP claim top prizes at AVCJ Awards
Baring Private Equity Asia – now BPEA EQT – retained the large-cap firm of the year prize at the 2022 AVCJ Private Equity & Venture Capital Awards as it, Pacific Equity Partners (PEP), and The Blackstone Group claimed two victories apiece.
Indonesia's Blibli completes $509m IPO
Indonesian e-commerce marketplace Blibli posted a small gain on its first day of trading on the Indonesian Stock Exchange (IDX) following a IDR 7.99trn (USD 509) IPO, the second-largest of the year in Jakarta.
Hong Kong vs Singapore: New economy IPOs
Hong Kong and Singapore are both keen to attract listings by high-growth technology companies. Some of the targets are the same, but the strategic positioning is different
China's Giant Biogene trades up after $70m Hong Kong IPO
Giant Biogene, a China-based producer of skin treatments that use bioactive ingredients, gained nearly 10% on debut following a HKD 549.4m (USD 70m) Hong Kong IPO.
Investors endorse 'long Chinese' thesis - AVCJ webinar
The shift from “long China” to “long Chinese,” which has gained traction as a soundbite as investors look to back local entrepreneurs in overseas markets, was highlighted once again during AVCJ’s China Private Markets Outlook webinar.
Warburg Pincus, Malabar commit $60m to India wearables brand
Warburg Pincus and Malabar Investments have injected USD 60m into boAT, an India-based manufacturer of wearables and other electronic devices that was previously on track for an IPO.
China’s Welkin Capital puts IPO on hold
China’s Welkin Capital has paused a planned USD 300m London IPO for an entity seeded with assets from its debut private equity fund, citing macro uncertainty and market volatility.
Profile: Charles Li
Charles Li became known as a financial markets reformist during his stint in charge of Hong Kong’s stock exchange. He continues in the same vein at the helm of fintech start-up Micro Connect
VC-backed Singapore biotech start-up agrees SPAC merger
Singapore’s AUM Biosciences, a VC-backed oncology treatments developer, has agreed to a NASDAQ listing via special purpose acquisition company (SPAC) at a pre-money equity valuation of USD 400m.
AVCJ Awards 2022 - voting has closed
Voting for the 2022 AVCJ Private Equity & Venture Capital Awards has now closed. Many thanks for your participation.
Deal focus: Food app targets Thailand’s first internet IPO
Thai restaurant delivery app Line Man Wongnai has leveraged the massive messaging service penetration of its parent company to position itself for what is hoped to be a breakthrough IPO
3Q analysis: Lean times
A flicker in India fails to disguise a miserable quarter for exits; a handful of fast fundraises snap Asia out of its slump; investment gravitates towards developed markets and manufacturing
Investors call on Japanese start-ups to pursue overseas capital - AVCJ Forum
Japanese start-ups must attract more institutional capital from overseas given the paucity of local investors, especially in the growth stages, the AVCJ Japan Forum heard.
Currency, exit, labour issues worry Japanese GPs - AVCJ Forum
Currency depreciation, dwindling domestic IPO opportunities, and labour shortages are all their toll on the portfolios of middle-market Japanese private equity firms, the AVCJ Japan Forum heard.
VC-backed Asia streaming business agrees SPAC merger
Asia Innovations Group (ASIG), a social media, gaming, and e-commerce business best known for the Uplive streaming platform, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at an equity valuation of USD 2.5bn.
PE-backed Mankind Pharma files for India IPO
Indian drug maker Mankind Pharma has filed for a domestic IPO, setting up an exit for Capital International, a private equity arm of Capital Group.
