China’s drone maker DJI to raise over $500m in pre-IPO funding at $15b valuation

A 'Phantom 2' drone by DJI company flies during the 4th Intergalactic Meeting of Phantom's Pilots ) in an open secure area in the Bois de Boulogne, Paris. REUTERS/Charles Platiau/Files

Chinese drone maker SZ DJI Technology Co Ltd is seeking at least $500 million at a valuation of about $15 billion ahead of a planned stock market debut, three people with knowledge of the matter told Reuters.

DJI, the world’s largest maker of civilian drones, plans to obtain the fresh capital in a combination of new equity and debt, and wants to finalise the deal in the coming months, said the people, declining to be identified as the information was private.

A stock market listing is likely next year, they added.

Proceeds for Shenzhen-based DJI, which is in talks with prospective investors, could be between $500 million and $800 million, one of the people said.

A spokeswoman for DJI said in an emailed statement the company had no announcement to make on fundraising and that it was not planning an initial public offering at the moment. She did not elaborate.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.