Private Equity

SoftBank Corp Invests RM250m In Axiata’s ADA For 23.07% Stake

KUALA LUMPUR (May 11): SoftBank Corp is investing RM250 million (US$60 million) in Axiata Group Bhd’s digital marketing subsidiary ADA for a 23.07% stake in the company, establishing ADA’s RM1.07 billion (US$260 million) valuation. Axiata Digital will remain as the majority shareholder of ADA with a 63.47% stake, following the entry of SoftBank. Axiata Digital …

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UFC-Owner Endeavor Aims for Over US$10 Bil Valuation in Second IPO Attempt

BENGALURU (April 20): Endeavor Group Holdings Inc, owner of the Ultimate Fighting Championship (UFC), is aiming for a valuation of more than US$10 billion in its US initial public offering (IPO), in what will be its second shot at going public after a failed attempt in 2019. Endeavor has also bought sports tech firm FlightScope …

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Top Glove’s Billionaire Founder Buys Stake in Education Company

KUALA LUMPUR (April 13): Tan Sri Dr Lim Wee Chai, founder and executive chairman of the world’s largest rubber glove producer Top Glove Corp Bhd, has emerged as a minority shareholder in Malaysian private education group Minda Global Bhd. The shares of Minda Global soared. “This is a private investment, separate from the Top Glove …

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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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