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The firm could be valued at about $1.5 billion, with a share sale likely by early 2019.
The sale would be part of a wave of disposals Wanda has signed in recent months to raise money.
Sajwani owns 72 percent of Damac, the company he founded in 2002 and grew to become one of the biggest developers in the Middle East.
The company is targeting around $1 billion of financing. Its targeted valuation would be almost six times the $3 billion it managed when it last raised funds in March.
Innovent is planning an IPO this year that could raise more than $200 million and has been weighing the U.S. as a listing venue.
Up until early last year, China was the most active market for bitcoin trading on exchanges.
Credit Suisse and Deutsche Bank have also been chosen to work on the IPO that could see the company target a valuation of as much as $100b.
Where Chinese college graduates once coveted a prestigious overseas job and foreign citizenship, many today gravitate toward career opportunities at home, where venture capital is now plentiful and the government dangles financial incentives for cutting-edge research.
Canva, an Australian-based graphic design app, has raised $40 million to become the country’s only privately backed technology startup to be valued at $1 billion. Sequoia Capital took part in the fundraising alongside existing investors Blackbird Ventures and Felicis Ventures. Co-founder Melanie Perkins said the Sydney-based company was profitable and didn’t need the money but was… Read more »
“Without the new rules, Ant Financial’s consumer loans would balloon with no limit.”