India
FirstCry is said to withdraw its IPO papers, make changes and refile them as early as next week,
CRRC Times Electric’s semiconductor unit bags over $597m equity funding
IFC, KB Kookmin Card launch $150m financing initiative in Indonesia, Thailand
PayU leads $5m funding in BRISKPE and India deals worth $93m
Indonesian media firm DailySocial lays off entire workforce amid "transition"
IFC mulls $60m investment in Indian shadow lender Five Star
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GoTo-backed digital lender Bank Jago’s profits surge 24% in Q1 2024
HK-based PE firm Azuremount WH closes co-control deal in AI software developer ATOM
Lured by robust exits, PE firms line up for hospital assets in India; SE Asia to follow
Editor’s take: The week that was — April 22-27
The LP View: Infra fund managers seen adopting clear climate strategy in Asia, says AIIB exec
Swiggy’s backers include Prosus, Accel, SoftBank, and Invesco among several others.
Vietnam
The company is currently valued at roughly $4 billion.
JioCinema has become popular for showing the IPL cricket tournament for free.
Greater China
Tea chain ChaPanda and Tianjin Construction Development had flopped earlier.
Its $330m IPO is the largest in Hong Kong so far in 2024.
World
After a two-year dry spell, US IPOs are expected to rebound in 2024.
Many Chinese funds want to get exposure to European and US investors and also need to build offshore structures.
The purchases helped China’s CSI300 blue-chip index bounce back roughly 14% from five-year lows hit in Feb.
The investment link between mainland China and HK will be broadened to include REITs and yuan stocks.