Singapore’s GIC Pet Ltd. and Temasek Holdings have bought US$1 billion of shares in Chinese e-commerce giant Alibaba Group Holding Ltd. as part of an US$8.9 billion sale by Alibaba’s biggest shareholder SoftBank Group Corp. The two Singaporean state investment firms each purchased US$500 million of Alibaba shares at US$74 apiece. Temasek is an existing […]
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Wan Jianlin, Asia’s richest man, revealed his life in the private jet to the public in a debut live broadcast with a well-known Chinese talk show during the weekend. The chairman of Dalian Wanda Group was shown playing poker in his ultra luxurious private jet, and walking with over a dozen entourage across a plaza […]
Beijing-based television and film company Enlight Media has made an undisclosed investment in Maoyan, the online movie ticketing service provider of Meituan-Dianping after it span off the unit into an independent company, according to a company announcement. Post the completion of the strategic investment, Enlight Media will become an important shareholder of Maoyan and will […]
China’s securities regulator plans to tighten back-door listings, potentially subjecting such deals to the same requirements as initial public offerings, according to an article by state-owned Securities Times. Citing an internal training organized by the China Securities Regulatory Commission yesterday, the article says this is the first time any concrete written notes regarding stricter rules […]
As hundreds of Chinese companies queue up to list on China’s domestic stock exchanges, many are forgoing the long wait via a shortcut: back-door listings via reverse mergers. Eyeing the elevated demand for A-share shell companies, a Beijing-based private equity firm China Science & Merchants Investment Management Group (CSC Group) has bought up at least […]
Global private equity funds posted a modest recovery in the fourth quarter after a brief drop in the previous quarter, with a comparative benchmark for private equity performance released by State Street recording an overall return of 1.11% in the fourth quarter of 2015, the firm said in a release. “The biggest driver in the […]
Capital flowing into venture capital-backed financial technology (fintech) companies has driven investments in the sector in Asia to a new high in the first quarter of 2016. China, the dominant country in the region, attracted US$2.4 billion investment into venture-backed fintech companies from January to March through nine deals, compared to just US$300 million with […]
Chinese local police arrested 13 people at the small P2P (Peer-to-Peer) lender esudai.com in the city of Huizhou yesterday. Founded in 2010, esudai.com recorded total transaction value of over RMB7 billion (US$1.07 billion) with 330,000 investors lending out their personal savings via the online portal. The founders and managers at the company allegedly kept some […]
The Shenzhen Stock Exchange has made further disclosure requirements to Wanda Cinema Line Co., the movie theater arm of Chinese conglomerate Dalian Wanda Group, on its planned US$5.72 billion acquisition of Wanda Media. Concerned about high valuations of some recent public company-led deals, the exchange required Wanda Cinema Line to disclose the reasons behind the […]