In Thailand, investment banking firm Finansa has proposed to take over housing development company MK Real Estate Development in a $87.3 million deal. Meanwhile, in Vietnam, restaurant and service review website Riviu has bagged a $3.6 million funding.
Finansa to acquire majority stake in MK Real Estate
Thai investment banking group Finansa has proposed to acquire the remaining 81.2 per cent voting rights in SET-listed MK Real Estate Development for about 2.77 billion baht ($87.3 million), according to a regulatory filing.
With an 18.8 per cent stake, Finansa is currently the largest shareholder in MK.
The tender offer, which is subject to Finansa’s shareholders’ approval, is expected to occur within this year.
Finansa said it will need to appoint an independent financial advisor before going to its shareholders about the acquisition.
The company added that it had no plan to delist MK from the local stock exchange.
MK’s shares were traded at 3.06 baht apiece on Monday.
The housing development company recorded a loss of 95 million baht in the first half of 2020, compared to a 246 million baht positive income during the same period last year.
Vietnam’s Riviu nabs $3.6m funding
Vietnamese restaurant and lifestyle service review startup Riviu has secured $3.6 million in seed funding from an undisclosed investor.
While the funding round was initially reported by local media, Dang Le Huy, co-founder and CEO of Riviu, also confirmed the development on his social media accounts.
The startup was established in 2019 and officially launched in February this year. One of the co-founders is Trang Hong Quan, founder of restaurant review site Diadiemanuong.com.
Following the seed investment, Diadiemanuong has been merged into Riviu.
Riviu provides access to information and reviews of 120.000 restaurants, hotels and other service outlets. It said to go after the model of Chinese giant Meituan-Dianping.