HONG KONG, December 9 News and developments in
Asia private equity from Reuters News for the week ending Dec.
NINE ENTERTAINMENT Co. Holdings Ltd disappointed
with a lacklustre debut on the Australian stock exchange,
opening just below its initial public offering (IPO) price as
investors fretted about the challenges facing old media.
FRENCH HOLIDAY operator Club Med vowed to
accelerate its expansion in emerging markets such as China,
Brazil and Russia to counter persistent weakness in Europe.
SHARES OF HELP International Corp Bhd jumped as
much as 9.2 percent after the Malaysian tertiary education
provider received a 359.3 million ringgit ($111 million) buyout
offer from private equity firm Southern Capital Partners.
CONSUN PHARMACEUTICAL Group, backed by private equity firm
Hony Capital, has started bookbuilding for a Hong Kong IPO of up
to HK$1.1 billion ($141 million), IFR reported. Hony, an
affiliate of Lenovo Group, will hold a 22.4 percent stake in the
company after the IPO.
CHINA CINDA Asset Management Co Ltd, China's
biggest bad debt manager, is set to raise $2.5 billion after
pricing its Hong Kong IPO at the top of the marketing range, a
source with direct knowledge of the plans said.
SDCL ASIA, a joint venture between London-headquartered
Sustainable Capital Development LLP and First Eastern Investment
Group, said it plans to launch a $200 million UK China Energy
Efficiency Investments Fund, to invest in energy efficiency
projects and opportunities. ()
CHINA HUIYUAN Juice Group Ltd is seeking to raise
up to HK$390 million ($50.3 million) by issuing new shares, IFR
AUSTRALIA'S NINE Entertainment Co Pty Ltd, saved from going
into receivership by two U.S. private equity funds a year ago,
raised A$631 million ($576.45 million) in the country's
second-largest initial public offering this year.
SHARES IN Australian electronics retailer Dick Smith
Holdings Ltd debuted around their offer price on
Wednesday after its $315 million initial public offering
generated solid demand and a strong, swift return for its
private equity owners.
WHEN IT comes to making a killing on the Hong Kong IPO
market, buying into a cemetery custodian is not the first
strategy which springs to mind.
THE PLANNED IPO of Indonesia's biggest taxi operator, PT
Blue Bird, will not happen this year after the company failed to
receive regulatory approval in time, sources with knowledge of
the matter said.
KROLL SAID it has formed a strategic alliance with BMR
Advisors, a company in India that offers tax, risk and M&A
advisory services. ()
AUSTRALIAN INSURER Cover-More Group is seeking to raise
A$521.2 million ($476.3 million) in an initial public offering
by selling up to 260.6 million shares at A$2 each, according to
L CAPITAL Asia, a private equity firm sponsored by LVMH Moët
Hennessy Louis Vuitton S.A., Groupe Arnault and YTL
Corp Bhd, said it has taken a 40 percent stake in
Australia sports brand 2XU. Local media reported the value of
the stake at A$80 million ($72.79 million). ()
CODA PAYMENTS Pte Ltd, a mobile and online payments related
company, said it has received $2.3 million in Series A financing
from GMO Global Payment Fund, Rakuten, CyberAgent
Ventures, Golden Gate Ventures and Toivo Annus.