capital raising

Klook concludes US$425 mil series D funding with SoftBank-led round

SINGAPORE (April 9): Klook, the Hong Kong-based travel booking platform today announced the completion of its US$425 million ($575.3 million) series D funding after it raised over US$225 million in a series D+ round.

The US$100 billion SoftBank Vision Fund led Klook’s latest funding round, which also saw participation from other existing investors including Sequoia China, Matrix Partners, TCV, and OurCrowd.

In a Tuesday release, Klook says its latest capital raise represent the global travel activities & services industry’s largest financing ever.

Sino Grandness selling 170 mil new shares at 4 cents each to JW Capital

SINGAPORE (Mar 25): Sino Grandness Food Industry has entered into a placement agreement to sell 170 million new shares to JW Capital Group at 4 cents each for 6.8 million.

The issue price represents a discount of 6.98% to the volume weighted average price of 4.3 cents per share, as at Mar 22.

The placement shares represent 17.36% of the group’s issued share capital and about 14.79% of the enlarged share capital after the placement.

Following this placement, the group will have in issue about 1.15 billion shares.

Croesus Retail Trust co-founder speaks up about going private

SINGAPORE (Jan 12): Last September, Croesus Retail Trust (CRT) was taken private by Blackstone Group at a higher price than it ever garnered in the public market.

The trust had traded below its net asset value (NAV) for most of the 4½ years it was listed.

“I was obsessed with closing the valuation gap,” says Jeremy Yong, who was managing director of CRT’s trustee-manager and co-founded the trust.

“We needed to make sure we were trading at fair value so that our acquisition currency was strong enough to acquire new assets,” he adds.

New Silkroutes’ acquisition of Capital Group falls through

SINGAPORE (Sept 4): New Silkroutes Group’s proposed 100% acquisition of American investment holding company Capital Group Investments has lapsed due to “certain restructuring” within Capital Group.

On Feb 3, New Silkroutes had announced its intention to acquire Capital Group, which owns shares in CG Capital Partners, a stakeholder in New York-based broker-dealer and investment bank CG Capital Markets, for US$14.4 million ($20 million).

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