Private Equity

Blavatnik-Backed DigitalOcean Raises about US$775m in IPO

(March 24): Cloud computing company DigitalOcean Holdings Inc. raised more than US$775 million in an initial public offering priced at the top of a marketed range, adding to 2021’s run of software listings. DigitalOcean sold 16.5 million shares Tuesday for US$47 each, according to a statement. The New York-based company had marketed the shares for …

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eToro Nears $10 Billion Merger With Betsy Cohen SPAC

Trading platform EToro, a rival to Robinhood Markets Inc., plans to go public via a merger with a blank-check firm led by serial dealmaker Betsy Cohen. The agreement with FinTech Acquisition Corp. V values the combined company at about $10.4 billion, according to a statement Tuesday confirming a Bloomberg report. The companies are raising about $650 million in equity to support …

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Kelington Subsidiary Gets RM38m Job in China

KUALA LUMPUR (March 15): Kelington Group Bhd’s wholly-owned subsidiary Kelington Engineering (Shanghai) Co Ltd (KESH) has secured a RM37.9 million contract to perform gas hook-up works for Ruili Integrated Circuit Co Ltd’s memory chip wafer fabrication project in Hefei, which is the capital of China’s Anhui province. In a Bursa Malaysia filing today, Kelington said …

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Robinhood to Plan Confidential IPO Filing as Soon as March

(Feb 27): Robinhood Markets Inc, the trading platform behind the boom-and-bust swing in GameStop Corp’s shares, plans to file confidentially for an initial public offering as soon as March, according to people familiar with the matter. The company has held talks in the past week with underwriters about moving forward with a filing within weeks, …

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Tencent-backed WeDoctor’s Hong Kong IPO Looms with Valuation Near US$7 Billion

(Feb 25): WeDoctor is planning to file for an initial public offering in Hong Kong as soon as next month after fetching a valuation of $6.8 billion in its latest funding round, according to people familiar with the matter. The Tencent Holdings Ltd.-backed company raised about $400 million in a pre-IPO round at the end …

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Co-Founders of Chinese Private-Equity Firm Boyu Build Singapore Base

Two co-founders of China’s Boyu Capital, a leading private-equity firm set up by a grandson of former Chinese President Jiang Zemin, have relocated to Singapore with a share of the company’s operations from its Hong Kong headquarters, according to people briefed on the move. Boyu’s tilt toward the Southeast Asian city-state of Singapore was mainly …

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PE Firm Navis Mulling Sale of Malaysian Supermarket Owner — Sources

(Feb 19): Asian buyout firm Navis Capital Partners is exploring a sale of premium supermarket chains in Malaysia, which could be worth about RM1 billion, according to people with knowledge of the matter. The firm is asking banks to submit proposals on the potential divestment of The Food Purveyor Sdn Bhd, the vehicle that owns …

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