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% ...
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 ...
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 ...
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 ...
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 ...
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. The Beijing-based startup raised the money at a valuation of about US$2.8 billion ($3.7 billion) as it seeks to expand in the costly fresh-foods ...
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 ...
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 ...