Singapore Exchange or SGX has reduced the minimum market capitalisation for Special Purpose Acquisition Companies (SPACs) to $150 million from originally proposed $300 million in which sponsors must subscribe to at least 2.5% to 3.5 % of the IPO shares, units or warrants.
On 3 August 2021, the Securities and Futures Commission (“SFC”) announced that it has reprimanded and fined UBS AG and UBS Securities Asia Limited (“UBSSAL”) (collectively “UBS”) HK$9.8 million and HK$1.75 million respectively over numerous regulatory breaches.
A down-round is a fundraising round of a company in which the pre-money valuation is lower than the post-money valuation of the company in the preceding fundraising round.
Affinity Equity Partners, a pan-Asian buyout GP has made its first fintech investment by taking a “joint controlling stake” in Singapore-headquartered M-DAQ.
Indonesian online marketplace Bukalapak made its debut on the Indonesian Stock Exchange on August 6 to raise $1.52 billion, 5 times more than an original target of $300 million, making it the biggest raise in the Indonesia stock exchange’s history.
Canada Pension Plan Investment Board (CPPIB) has appointed Suyi Kim as senior managing director and global head of private equity effective September 15.
The injection of over $200m in a Series D financing round has pushed Nium, a Singapore-headquartered payments platform into the ranks of unicorns. Founded in 2015, Nium has also become the first B2B payments unicorn from Southeast Asia.
Canada Pension Plan Investment Board (CPPIB) has appointed Suyi Kim as senior managing director and global head of private equity effective September 15.
