July 14 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending July 11.
CHINESE PORK producer WH Group Ltd is seeking to raise up to $3 billion as early as this month in a revived Hong Kong initial public offering which saw the deal size cut by nearly two-thirds, Thomson Reuters publication IFR reported.
STANDARD CHARTERED Bank said its private equity arm led a $124 million investment to buy a 28 percent stake in a commercial real estate project in China even as real estate prices ease.
CLUB MEDITERRANEE suitor Andrea Bonomi met trade unions on Thursday to outline his plan for the French holidays group, but did not convince staff representatives worried about possible job cuts.
INDIA PAVED the way for the stock market listing of real estate investment trusts (REITs) in a move to boost foreign investment in the property sector that has been hit by slowing economic growth.
SHARES IN China’s Luye Pharma Group Ltd jumped as much as 18 percent in its Hong Kong market debut, bolstering prospects for other so-called “China orphan” firms that had been previously listed elsewhere.
MALAYSIA-BASED private equity firm Navis Capital Partners said it has acquired a majority equity stake in Singapore’s Tri-Star Industries Pte Ltd, an oil and gas component manufacturer specializing in corrosion-resistant products with operations in Asia, the Middle East and United States. Terms of the deal were not disclosed.
MORGAN STANLEY said its Asia private equity unit has raised $1.7 billion in its fourth Asia fund as it seeks investment opportunities in China and South Korea.
THE INDIAN conglomerate headed by billionaire Ajay Piramal is hunting for road projects put up for sale by stressed developers, betting a change of government will stimulate growth and revive an infrastructure sector plagued with delays. (Compiled by Stephen Aldred in Hong Kong; Editing by Sunil Nair)