China Digest: Sequoia backs NOME; Alibaba, Ctrip invest $63m in Mwee


NOME’s Series A round was joined by China-focused private equity firm Capital Today.

JPMorgan applies to China regulator for securities business licence

JPMorgan also said it had appointed Mark Leung as the chief executive of its China business.

Foxconn unit targets Shanghai IPO, to raise capital for 5G projects

The unit, which makes industrial robots, plans to issue up to 10 per cent of its enlarged share capital.

China’s CDH Investments said to raise $1b for fifth mezzanine fund

The first close of the fund came late last year at $484 million, with backers including insurance companies, banks, trust companies and other institutional investors.

China Three Gorges offers $10.9b to buy rest of Portugal’s EDP

China Three Gorges had bought a 21% stake in EDP more than five years ago as part of a Portuguese government bailout involving the International Monetary Fund.

Louis Dreyfus completes $466m sale of metals unit to Chinese fund

The metals business is one of the largest copper, zinc and lead concentrates merchants worldwide, according to Louis Dreyfus, and has been one of the group’s most profitable activities in recent years.

Carlyle, CPPIB said to be latest backers of Ant Financial’s $10b funding

Warburg Pincus and Temasek are also joining the round, which would make Ant the world’s largest fintech firm.

China’s Fosun Pharma in the running for $2b Novartis assets

Apollo Global Management LLC, CVC Capital Partners and Indian drugmaker Aurobindo Pharma Ltd. have also been picked to make final offers.

Logistics major GLP announces launch of $1.6b debut PE fund

Hidden Hill Modern Logistics Private Equity Fund will invest in companies focusing on developing logistics technologies.

Hong Kong-based Jeneration Capital raising new $800m fund

The fund will mostly target consumer technology startups with an expected close over the coming months.