By Elzio Barreto
This is the largest new listing in Singapore in more than four years.
A consortium of regional institutional investors including Indonesia’s Reliance Modal Ventura also participated in this round.
Concerns over bidding process reportedly led PE firms to withdraw from the race.
This is Keppel Land China and Alpha Investment Partners’ second collaboration in China.
Extension of put option exercise date allows firm to focus on monetising its assets.
99.co is also likely to pursue an exit via a public listing.
The challenge for VCs is that areas like AI may take longer to come to fruition.
ICOs offer an opportunity for investors & entrepreneurs beyond VC/PE space.
Bidders were reportedly concerned over an insider bid led by the GLP CEO.
Deal has been structured as a cash and equity merger.