China Cinda Asset Management Corp, one of China's four bad loan managers, is seeking up to $2.5 billion in an initial public offering in Hong Kong attracting global investors like Och-Ziff Capital Management Group LLC and Norway's sovereign wealth fund.
Asia/Pacific
China's Qinhuangdao Port to bring in USD717 million in IPO
Chinese coal port operator Qinhuangdao Port Co. is seeking to raise up to USD717 million in a Hong Kong listing. The firm will be putting up for sale 829.9 million shares at HKD5.25 to HKD6.70 apiece.
Carlyle looking to sell Taiwanese Eastern Broadcasting for USD700 million
American private equity firm Carlyle Group LP is considering to sell its 67% stake in Eastern Broadcasting Co. for up to USD700 million. Carlyle built a majority holding in the Taiwanese broadcaster after acquiring its parent company for USD1.5 billion.
Thai govt's collateral-free loan scheme may not combat loan sharks-report
The new collateral-free microfinance program set to be implemented next year by the Finance Ministry of Thailand to fight illegal loan sharks may not gain wide acceptance due to its high interest rate, according to a report on The Nation.
Singapore's AIMS purchases half of Sydney's Optus Center
Singapore-listed AIMS AMP Capital Industrial REIT entered the Australian market by buying a 49% stake in Optus Center at Sydney's Macquari Park for over USD184 million.
Latest News
According to sources interviewed by Bloomberg, Cairn India is planning to buy back USD 1 billion worth of shares in order to give Anil Agarwal more control of the company.
A group of 10 investors, including Norway's sovereign wealth fund and Och-Ziff Capital Management Group LLC, have together committed to buy about $1.1 billion into China Cinda Asset Management Corp as part of its Hong Kong IPO, people familiar with the matter said on Sunday.
China is set to become Asia's leader in outbound corporate acquisitions this year, ending Japan's two-year reign, as the country's appetite for overseas targets expands beyond natural resources and into areas such as food and banking.
Pfizer Ltd, the Indian unit of U.S. drug maker Pfizer Inc, is to take over local affiliate Wyeth Ltd. Shareholders of Wyeth will get seven Pfizer Ltd shares for every 10 shares held.
With almost 150 plot bookings from MSME companies, Gujarat's plastic park at Dahej and Sanand are expected to attract around INR5000 crore worth of investment in India.
A Saturday announcement revealed that Pfizer Ltd, Pfizer Inc's Indian unit, would be merging with its local affiliate Wyeth Ltd after both pharmaceutical firms' boards approved the deal.
The Galeao airport in Rio de Janeiro was sold to Odebrecht and its partner Changi Airports International for USD8.3 billion, a value almost four times the minimum bid.
Chinese real estate developer Sichuan Xinglida Group Enterprises Co bought the Torrance Marriott hotel in South Bay, California for USD74 million, according real estate broker John Strauss.
The Japanese Ministry of Health, Labor and Welfare approved EYLEA (aflibercept) Injection to treat macular edema following Central Retinal Vein Occlusion, expanding Regeneron Pharmaceuticals Inc's reach in the Asian market.
