Fundraising

Suntec REIT looks to expand Australia footprint with $150 mil private placement

SINGAPORE (April 24): Suntec REIT’s manager ARA Trust Management is proposing to issue 84.7 million new units of the REIT at $1.77 to $1.81 per new unit in its bid to raise up to $150 million of gross proceeds, with the possibility of increasing the size of the private placement by up to an additional $50 million.

The price range of the unit placement represents a discount of between 5.8% and 3.7% of the volume weighted average price of $1.879 per unit in the REIT as at the close of Wednesday.

Grab sets sights on US$6.5 bil capital mark

SINGAPORE (April 8): Grab Holdings is expecting to rake in further US$2 billion ($2.71 billion) in funding to bring its total capital raised this year to US$6.5 billion, following its Series H round which saw SoftBank and other key strategic investors invest over US$4.5 billion in the ride-hailing app.

Last month, Grab secured a US$1.46 billion investment from SoftBank Vision Fund. Both Grab and the Japanese conglomerate have been working together since 2014.

Raffles Education scraps $27.4 mil rights issue in view of recent market conditions, share price falls

SINGAPORE (Mar 6): Raffles Education Corp is cancelling its proposed 2-for-10 rights issue, which would have allowed the group to raise up to about $27.4 million in net proceeds after raising 275.9 million new shares at the issue price of 10 cents per share.  

Citing “recent market conditions”, the group also notes that its current share price is currently below the 10-cent issue price of the rights shares.

Prior to the midday trading break, shares in the group were down by 2 cents or 18.2% in the year to date (YTD) at 8.8 cents.

CapitaLand announces launch of US$750 mil discretionary real estate debt fund in China

SINGAPORE (Feb 27): CapitaLand has announced the first closing of its first discretionary real estate debt fund, which the group will hold a 10% stake in. 

Dubbed “CREDO | China”, the fund has a target capital raise of US$750 million ($1 billion), and will invest in offshore USD-denominated subordinated instruments for real estate in China’s first- and second-tier cities.

The group has raised over 70% of the capital or US$556 million for the first closing, and expects subsequent commitments from major institutional investors later this year.

Southeast Asia PE deal value surges to $30 bil in 1Q, led by Singapore

SINGAPORE (July 9): Total private equity (PE) and venture capital (VC) deal value in Southeast Asia hit a historic high of US$21.9 billion ($29.7 billion) over 19 deals in 1Q18, significantly up from 26 deals worth US$687 million a year ago.

This is according to EY’s Private equity briefing: Southeast Asia (June 2018) report, which offers a roundup of the PE deals and capital activities across major sectors in the region.

This vegetable-selling startup's just been valued at $3.7 billion

(Jan 12): Meicai, a China startup that helps farmers sell vegetables to restaurants, has raised US$450 million ($598 million) in a funding round led by Tiger Global Management and China Media Capital, according to people familiar with the matter.

E-commerce to fuel Southeast Asia's internet economy: Google-Temasek

SINGAPORE (Dec 12): Southeast Asia’s internet economy has experienced unprecedented growth over the past year to exceed Google-Temasek initial research projections, with there to be over 330 million active monthly internet users by end-2017 – a 70 million surge in new users since 2015 at 13% compound annual growth rate (CAGR).

Currently, 90% of active users in the region are using the internet on their smartphones, spending an average of 3.6 hours per day on mobile internet, the highest proportion globally.

Grab raises US$750 mil in latest fundraising round

SINGAPORE (Sept 20): Ride-hailing service Grab has raised US$750 million ($1.02 billion) in its latest round of fundraising, led by SoftBank as well as other existing and new investors.

This new round of fundraising has now expanded Grab’s cash position to over US$1 billion.

“This latest funding, the largest in the history of Southeast Asia consumer technology, strengthens our ability to pursue those long-term goals as we continue to build on our market leadership,” says Anthony Tan, group ceo and co-founder, Grab.

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