U.K.-listed Intermediate Capital Group (ICG) and its funds have acquired a 100% stake of Singapore’s private eduction institution PSB Academy (PSB) from Baring Private Equity Asia (BPEA).
Baring Private Equity Asia Exits Halla Cement To Asia Cement For $723M
Pan-Asia private equity firm Baring Private Equity Asia said that its affiliated private equity funds have sold Korean cement business Halla Cement to Taiwan-based Asia Cement for a total enterprise value of US$723 million, marking a quick exit for a business it acquired less than two years ago.
Chinese PE/VC Firms Achieve Record Exits In 2017, IPOs Almost Double From Year Ago
The year 2017 will be remembered as a record setter for the Chinese private equity and venture capital industry, as the number of IPO exits secured by PE/VC firms this year almost doubled from a year ago. In fact, the number of IPO exits in 2017 is equals to half of all IPO exits recorded in the six years from 2011 to 2016.
Tencent-Backed Auto Finance Platform Yixin Plans $6.77B HK IPO Despite Losses
China’s largest online automobile financing platform Yixin Group, backed by investment heavyweights Tencent Holdings Ltd, Baidu Inc., JD.com and BitAuto Holdings Ltd, plans to raise up to HK$6.77 billion (US$867 million) via an initial public offering on the Hong Kong Stock Exchange.
Blue Ocean Capital Sells China Cord Blood Stake To SanPower Group Unit
Blue Ocean Capital Group, a Chinese private equity investment firm specializing in healthcare, TMT and innovative financial services, has sold its US$250 million investment in China Cord Blood Corporation (CCBC) to a unit sponsored by SanPower Group, a Chinese conglomerate.
Alibaba-Backed Logistics Firm Best Inc Cuts New York IPO Size By Half
Chinese logistics services provider Best Inc., backed by Chinese Internet giant Alibaba Group Holding Ltd., has cut its New York Stock Exchange IPO by half due to tepid investor demand.
We Caught A Fake Unicorn, And Cut It From Our List
We just caught someone swimming naked. Beijing-based e-book mobile app developer Zhangyue publicly announced in 2016 that it had raised a financing round of US$100 million at a valuation of US$1 billion. It was, the company said, a genuine unicorn.
Alibaba-Backed Best Logistics Seeks $1 Billion In US IPO
Best Inc., a logistic service provider backed by Alibaba Group, has revised up the amount of capital it is seeking to raise in an initial public offering in New York to US$1 billion, from a previous target of US$750 million in June.
Hong Kong PE Firm EmergeVest Exits Chinese Apparel Supplier JDU For $500M
Hong Kong-based private equity firm EmergeVest has sold its stake in Jiangsu province-based Chinese apparel supplier J.D. United Manufacturing Corporation Ltd. (JDU) to Taiwan-listed textile company Roo Hsing for US$500 million.
Fosun, Sanyuan To Acquire French Margarine Maker St Hubert For $733M
Chinese conglomerate Fosun Group and Shanghai Stock Exchange-listed Beijing Sanyuan Foods Co., Ltd. have unveiled plans to acquire French margarine maker St Hubert SAS for €625 million (US$733 million).
Tencent’s Online Publishing Platform China Literature Files For Hong Kong IPO
China Literature Ltd., an online literature platform operated by Tencent Holdings, has filed an IPO prospectus to list on the Hong Kong Stock Exchange, raising a total of US$8.33 billion (US$1.1 billion) via the float.
Li Ka-Shing Supported Hardware Developer Razer Inc Plans Hong Kong IPO
Razer Inc., a U.S.-based computer hardware developer for the gaming industry backed by Hong Kong tycoon Li Ka-Shing, is planning to pursue an initial public offering on the Hong Kong Stock Exchange.
Legend, Goldman-Backed La Chapelle Gets Green Light To List In China
Chinese multi-brand apparel group Shanghai La Chapelle Fashion Co., Ltd., backed by Legend Capital, Goldman Sachs and other investors, have received approval from Chinese security regulators to list on domestic Chinese stock exchanges three years after it completed an IPO in Hong Kong.
FountainVest, Tencent, CITIC Capital To Reap Billions In Profit From Focus Media Share Sale
A number of investors in Focus Media Information Technology Co., Ltd. are likely to reaped billions of U.S. dollars in profits after they offload their shares in the Chinese outdoor advertising company that was taken private in 2013 and re-listed in China two years later. According to a disclosure filing yesterday, Chinese private equity firm FountainVest Partners, Tencent Holdings Ltd. and CITIC Capital plan to sell their interests in Focus Media totaling around 14% of the company’s outstanding shares. The …
PE-Backed WuXi Biologics’ $510M Hong Kong IPO Cheered By Investors
WuXi Biologics (Cayman) Inc., a Chinese contract drug manufacturer whose parent company is controlled by a group of leading private equity firms, has seen its share price soar after completing a HK$3.98 billion (US$510 million) initial public offering on the Kong Exchange Stock Exchange.
Blackstone Sells European Logistics Unit Logicor To CIC For $13.8 Billion
China Investment Corporation (CIC) has agreed to acquire Blackstone’s pan European logistics company Logicor for €12.25 billion (US$13.82 billion), in the largest ever European real estate deal in terms of transaction value.
CDH Investments To Sell WH Group Shares For $730M In Partial Exit
Chinese alternative investment firm CDH Investments is selling an aggregate HK$5.7 billion (US$730 million) worth of shares in China’s WH Group Ltd., the world largest pork supplier.
DT Capital-Backed Tiansheng Pharma Completes IPO With $986M Valuation
Tiansheng Pharmaceutical Group Co., Ltd., a Chinese drug maker backed by local private equity firms DT Capital Partners and Leading Capital, has completed an initial public offering on the Shenzhen Stock Exchange today.
Broadline Capital-Backed China Rapid Finance Raises $60M In US IPO
China Rapid Finance Ltd., a Shanghai-based P2P (peer to peer) lending platform backed by Sino-U.S. private equity firm Broadline Capital, has priced an initial public offering to raise US$60 million via a listing on the New York Stock Exchange.
DT Capital-Backed Pharma Firm Kanghui Completes IPO In Shanghai
DT Capital Parnters-backed Shaanxi Kanghui Pharmaceutical Co., Ltd., which engages in the research, development and marketing of a range of drugs, has completed a listing on the Shanghai Stock Exchange.
Alibaba-Backed Best Logistics Plans $1 Billion US IPO
Chinese logistics firm Best Logistics Technology Co., backed by Alibaba Group Holding Ltd. and Hon Hai Precision Industry Co., is planning to raise US$1 billion via an initial public offering in the U.S. later this year.
CMC, FountainVest Divest 5.9% Stake In IMAX China
CMC Capital Partners and FountainVest Partners have sold a combined 5.9% of their shareholding in IMAX China Holding, Inc. at a price of HK$39.72 per share to a prominent international investment bank, the Hong Kong-listed large-format cinema systems operator said today in a release.
Chinese Genomics Giant BGI Makes Another Try For Shenzhen IPO
Shenzhen-based Chinese gene sequencing giant BGI Genomics Co., Ltd is making another try for a listing on the ChiNext board of the Shenzhen Stock Exchange, seeking to raise US$250 million by issuing 40 million new shares, after its previous application was rejected last November.
China Lodging Group To Acquire Carlyle-Backed Orange Crystal For $531M
Chinese hotel operator China Lodging Group Ltd. has agreed to acquire smaller rival Crystal Orange Hotels Group for RMB3.65 billion (US$531 million) from an investor group led by U.S. private equity giant the Carlyle Group, in a move that further pushes the country’s hospitality sectors to consolidate.
China’s SF Express To Complete Listing In Shenzhen, Founder Worth $16B
China’s largest express delivery firm S.F. Express is to complete the last step of its back-door listing on the Shenzhen Stock Exchange on February 23, completing an IPO process started a year ago. Shenzhen-based S.F. Express will ring the bell at the city’s local bourse and its reverse merger partner, Maanshan Dingtai Rare Earth & New Materials Co., Ltd., will be officially renamed as S.F. Express in two days, Chinese media reported. Last week, shareholders voted to approve the change …
Fortune Capital-Backed Gospell Completes $38M Shenzhen IPO
Gospell Digital Technology Co., Ltd., a Chinese digital television products and satellite TV receivers manufacturer backed by Chinese venture firm Fortune Capital, has completed a listing on the Shenzhen Stock Exchange.
Avery Dennison Acquires Shawkwei-Backed Chinese PVC Tape Manufacturer
Avery Dennison Corp., a New York Stock Exchange-listed packaging and labeling company, has agreed to acquire Chinese PVC tape manufacturer Yongle Tape Company Ltd. from Hong Kong and Singapore-based private equity firm ShawKwei & Partners at value of US$190 million.
CDH-Backed New Century Healthcare Completes $102M Hong Kong IPO
New Century Healthcare, a children’s and women’s hospital operator backed by Chinese alternative investment firm CDH Investments, has completed a listing on the Hong Kong Stock Exchange today. The Beijing-based hospital group has raised around HK$789 million (US$102 million) via the initial public offering. It plans to use the proceeds to open more hospitals and clinics in China’s major cities.
CVC-Backed Da Niang Dumplings To Be Sold To Chinese Hotel Group
Chinese fast food restaurant chain Da Niang Dumplings Holdings Ltd., which CVC Capital Partners bought out in 2013, is being sold to Chinese hotel group GreenTree Inns Hotel Management Group, Inc., according to a disclosure statement posted on the website of Ministry of Commerce’s anti-monopoly bureau.
CDH Acquires Stakes In Pre-School Education Group Ednovation
CDH Investments has acquired a 36% stake in Ednovation, a Singapore-based pre-school education group, from Tembusu Partners in a deal valued at over S$50 million ($35 million), as the Chinese investment firm plans to help the company expand in China.
China Mengniu To Buy Out KKR, CDH-Backed Modern Dairy For $826M
China Mengniu Dairy Co., Ltd. has offered to buy out dairy farming company China Modern Dairy Holdings Ltd. for US$826 million to secure a stable supply of raw milk for the Chinese dairy products manufacturing giant.