Advent-backed ASK Group eyes $1b valuation in share sale

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The IPO will largely be an offer for sale by private equity investor Advent. ASK might raise a small amount of fresh capital for business expansion.

Tendulkar-backed Smaaash Entertainment looks to raise $73m in IPO

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Smaaash will use the cash proceeds to fund its inorganic growth initiatives, repay part of its debt and for its working capital requirements.


India: RoC clears way for HDFC AMC’s IPO, issue to open on July 25

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This will be the second IPO by an Indian mutual fund after Reliance Nippon Asset Management.


China: GGV Capital-backed 51 Credit Card raises $119m in HK IPO

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The GGV Capital-backed company sold 118.7 million shares at HK$8.50 apiece which was the bottom end of the indicative range of HK$8.5-HK$11.5.


Thai conglomerate Central Group mulls IPO for retail arm

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The group is working on a restructuring of its retail operations ahead of a possible IPO as soon as next year. Any share sale could raise at least $1 billion.


Chinese e-commerce site Pinduoduo targets up to $1.63b in US IPO

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If successful, this will be one of the biggest U.S. floats by Chinese firms in four years.


Uber’s Khosrowshahi says being profitable not critical to IPO plans

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The Uber CEO said he was more focused on generating positive cash flow than making the company profitable according to generally accepted accounting principles.


India: HDFC Mutual Fund, six others to hit the markets seeking to raise $2b

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The seven IPOs are aimed at funding business expansion, working capital requirements and repayment of loans. They will also provide partial exits to shareholders, including private equity and venture capital investors.


India’s capital market regulator proposes tightening rules for auditors, valuers

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Auditing lapses have caused several frauds to go unnoticed for years and the capital market regulator has had no direct control on the auditing firms.


Paktor parent M17 Entertainment officially withdraws US IPO

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In a statement, M17 Entertainment said it has notified the NYSE of its decision to withdraw the American depositary shares representing its ordinary shares from listing.