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Chip tool firm Kokusai Electric launches Japan's largest IPO in five years at $750 million

Economic Times

Economic Times · 1y ago

Chip tool firm Kokusai Electric launches Japan's largest IPO in five years at $750 million

Kokusai Electric, a chipmaking equipment maker, is planning to launch Japan's largest IPO in five years on the Tokyo Stock Exchange. With an indicative share price of 1,890 yen per share, the company aims to offer shares worth 111.2 billion yen ($749.88 million) and achieve a market value of 435.5 billion yen. Kokusai Electric was previously spun off by KKR after the private equity group acquired Hitachi's electronic equipment unit in 2017. The listing comes amidst a debate regarding the demand in the chip industry, following a slowdown in the electronics market.

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Philippine fintech GCash hires banks for up to $1.5 billion IPO, sources say

Economic Times

Economic Times · 7m ago

Philippine fintech GCash hires banks for up to $1.5 billion IPO, sources say

Philippine fintech firm GCash plans an initial public offering (IPO) of up to $1.5 billion, aiming for the country's largest stock offering ever. The IPO may occur in the latter half of 2025 or in 2026, chaired by banks including Citi, Jefferies, and UBS. This move could invigorate ASEAN IPOs, which experienced a dip recently. GCash achieved a valuation of $5 billion after investments from Ayala Corp and Japan's Mitsubishi UFJ Financial Group.

Chipmaker Polymatech plans ₹1,500 crore IPO by year-end

Livemint

Livemint · 1y ago

Chipmaker Polymatech plans ₹1,500 crore IPO by year-end

Semiconductor chip manufacturer Polymatech Electronics aims to raise ₹1,500 crore through an IPO by the end of the year. This would be double the initial plan of ₹750 crore. The company manufactures opto-semiconductor chips and is planning to divest a 10% stake through the IPO. Polymatech's revenue nearly doubled from ₹650 crore in FY23 to ₹1,200 crore in FY24, and it expects to double its revenues annually. The company plans to invest $5 billion over the next few years, with $1.5 billion coming from the IPO proceeds. Polymatech is also exploring establishing assembly and packaging units in overseas locations.

Mizuho is in talks to buy KKR’s part stake in fintech company InCred

Economic Times

Economic Times · 1y ago

Mizuho is in talks to buy KKR’s part stake in fintech company InCred

Japan's Mizuho Financial Group is reportedly in talks to acquire a stake in Indian financial services unicorn InCred Finance. The discussions involve purchasing a portion of the stake currently held by global investment firm KKR, potentially amounting to around 10%. The negotiations are said to be at a premium to InCred's last valuation of $1.2 billion. Other investors are also considering a secondary stake purchase ahead of a potential IPO by InCred in the next one to two years.

BPEA Credit launches Rs 750 Cr short-term income fund

YourStory

YourStory · 1y ago

BPEA Credit launches Rs 750 Cr short-term income fund

Asian private credit manager BPEA Credit has completed the initial closing of its Select Short Term Income Fund - I at Rs 750 crore, with an option to raise an additional Rs 750 crore. The fund aims to meet the demand for stable, short-term investment opportunities with regular income distribution. It will provide credit solutions to high-growth companies, focusing on capital preservation and steady cash flow. BPEA Credit is one of Asia's largest independent alternative investment funds, with over $21 billion in assets under management.

Reliance Jio IPO set for 2025, retail arm to make debut much later

VCCircle

VCCircle · 9m ago

Reliance Jio IPO set for 2025, retail arm to make debut much later

Indian billionaire Mukesh Ambani plans to list his telecom business, Reliance Jio, in 2025, while the IPO for his retail unit will come later, according to sources. Ambani, the chairman of Reliance Industries, had previously stated that both businesses would move towards an IPO within five years. The sources said the company aims to address internal challenges and achieve stability in its retail unit before going public. The Reliance Jio IPO, slated to be India's largest to date, is expected to value the company at around $112bn.

China EV maker Zeekr shares climb 35% after expanded US IPO

Livemint

Livemint · 1y ago

China EV maker Zeekr shares climb 35% after expanded US IPO

Shares of Zeekr Intelligent Technology Holding Ltd., a high-end electric car brand under Zhejiang Geely Holding Group Co., rose 35% after a successful initial public offering (IPO) in the US. Zeekr raised $441 million from the sale of 21 million American depositary shares (ADS) priced at $21 each. The IPO is the largest by a China-based company in the US since Didi Global Inc.'s IPO three years ago. Zeekr's offering reflects a rebound in the US IPO market, with approximately $17 billion raised in listings on US exchanges in 2023.

PLI Scheme: IPO-Bound Ola Electric Gets Domestic Value Addition Certificate

Inc42 · 1y ago

PLI Scheme: IPO-Bound Ola Electric Gets Domestic Value Addition Certificate

Ola Electric, an IPO-bound startup, has become the first Indian two-wheeler manufacturer to receive the domestic value addition (DVA) certificate under the production linked incentive (PLI) scheme for the automobile and auto component industry. This certification enables Ola Electric to be eligible for incentives ranging from 13% to 18% of determined sales value for up to five consecutive financial years. The PLI scheme aims to boost domestic manufacturing and promote clean mobility in India. Ola Electric is also awarded capacity under the PLI scheme for advanced chemistry cell battery storage.

ChrysCapital, LP co-investors set stage for nearly $800-mn exit

VCCircle

VCCircle · 1y ago

ChrysCapital, LP co-investors set stage for nearly $800-mn exit

ChrysCapital, along with its co-investors, is preparing for a potential exit worth nearly $800 million. The private equity firm, known for raising the largest sector-agnostic fund in India, has been active in making new deals and has now decided to sell one of its portfolio companies after backing it for five years.

Mihup in talks with top automaker for in-car voice assistant: CEO

Inshorts · 4m ago

Mihup in talks with top automaker for in-car voice assistant: CEO

Mihup, a conversational intelligence firm, is in talks with "one of the largest car makers in India" to integrate its in-car voice assistant, CEO Tapan Barman confirmed. The firm plans an IPO within two years. With over a million cars using Mihup now, the company aims to expand its AI-driven voice tech for global and Indian markets, Barman claimed.

How UAE's Gulf Capital is seeing a shift in its strategy

VCCircle

VCCircle · 1y ago

How UAE's Gulf Capital is seeing a shift in its strategy

UAE private equity firm Gulf Capital is changing its exit strategy, moving away from its usual preference for strategic stake sales. The firm is exploring new options such as global buyout funds and local IPO listings as it monetizes its $750 million third investment vehicle. Gulf Capital's CEO, Karim El Solh, explained the shift in strategy as the firm seeks to adapt to changing market conditions.

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