By Fiona Lau
Postal Savings Bank of China (PSBC) has invited banks to pitch for its planned Hong Kong IPO, which with an estimated value of up to $15 billion may be the world’s biggest listing this year, IFR reported, citing people familiar with the deal. The move puts the initial public offering… Read more »
Best Logistics Technologies is in discussions with the IFC for a pre-IPO investment, while video social networking platform Acfun has secured an investment from SBCVC.
China: German industrial group Evonik invests in VC firm, BCVC commits to $60m Series A investment in Acfun
The venture capital arm of German industrial group Evonik has invested an undisclosed amount in Chinese VC firm GRC Mangers, which focuses on material-related start-ups from Greater China. Evonik Venture Capital has made the investment in SinoGreen Fund III, and the German company, in a statement, said the move enabled… Read more »
China’s embattled top securities regulator, Xiao Gang, has offered to resign, sources said, after perceived mismanagement wiped more than $5 trillion off the capitalization of the Shanghai and Shenzhen stock markets since they peaked last June. The 57-year-old chairman of the China Securities Regulatory Commission (CSRC) tendered his resignation last… Read more »
China is battling to stem speculation of further yuan weakness. The move could curb offshore banks’ interest in yuan dealings. Higher reserves could tighten supply, ease depreciation pressure
The plan is part of a broader goal to capitalize other units including its film, tourism and sports businesses via stock listings, Wang, China’s richest man, said at the Asia Financial Forum.
Chinese P2P lender becomes world’s most valuable fintech startup. Raises $1.2b, deal values company at $18.5b
Lufax raised $924 million from new investors in a so-called B round of financing, as well as an additional $292 million from investors who had bought stakes in the company in an initial funding round.
Qualcomm Inc and the provincial government of Guizhou in southwest China unveiled on Sunday a $280 million joint venture for the design, development and sale of advanced server technology, as the U.S. chipmaker deepens its Chinese relations.
A Chinese government campaign to restore confidence in the country’s volatile stock markets appeared to be in tatters on Friday as the benchmark Shanghai index wiped out all the gains made since the depths of last year’s crash. Among a flurry of measures, a so-called national team of institutional investors… Read more »
A group of bondholders in debt-laden Chinese developer Kaisa Group Holding, including Farallon Capital and BFAM Partners, have drawn up a debt restructuring plan even as the company pushes ahead with its own proposal, a source close to the two funds said on Friday. The bondholders proposal, which follows one launched by… Read more »