Shandong, China-based cotton and yarn manufacturer Shandong Ruyi Technology Group Co Ltd will invest $2 billion in the energy and textile sectors of Pakistan over the next two years.
China
Stricter supervision of IPO roadshows set by Chinese regulators
The Chinese Securities Regulatory Commission will be supervising companies scheduled to hold their IPOs more strictly as it plans to hold spot checks for investor roadshows, Bloomberg reported.
Power Assets Holdings Ltd reduces HK Electric Investments IPO size to $3.6B
Power Assets Holdings, the firm controlled by Li Ka-shing, has reduced the initial public offering size of Hong Kong's second largest power supplier, HK Electric Investments, Bloomberg reported.
US bankruptcy judge rejects Fikser's planned sale to Hong Kong billionaire Richard Li
Judge Kevin Gross of the US Bankruptcy Court in Wilmington, Delaware on Friday rejected a planned sale of Fisker Automotive to Hong Kong businessman Richard Li. Gross ruled in favor a competitive bidding between Li and Chinese auto parts maker Wanxiang Group instead.
Chinese glass firm Fuyao to invest $200M in GM's former plant in Ohio
China-based automotive glass supplier Fuyao Glass Industry Co will pour in a $200-million investment to build a manufacturing facility at the former assembly plant of General Motors (GM) in Ohio, US.
Latest News
The insurance unit of Portugal's Caixa Geral de Depositos SA will be acquired by China's Fosun International Ltd in a deal worth €1 billion, Reuters reported.
The first renminbi qualified foreign institutional investor exchange traded fund or RQFII ETF listed in the London Stock Exchange was launched by Hong Kong-based CSOP Asset Management and London-based Source, Reuters reported.
Tencent Holdings Ltd, the biggest Internet firm in Asia, invested an unconfirmed amount in China-based cab booking app Didi Taxi to promote its payment service to mobile web users.
Qihoo 360 Techology Co., China's second-largest search engine by users, on Thursday dismissed rumors that e-commerce major Alibaba Group Holding would pick up a stake in the company. Qihoo shares surged 9.3% on Wednesday on speculation the two companies were in talks over a deal.
China-based car parts conglomerate Wanxiang has sweetened its bid for failed US electric car maker Fisker Automotive in a battle with its rival suitor, Hong Kong-based firm Hybrid Technology.
The reopening of the IPO market in China did not inspire private equity managers in Asia who do not believe that the development would help companies make profitable exits.
Bank of China UK on Wednesday issued $413 million worth of yuan-denominated bonds in London, as China seeks to increase the international usage of its currency for trade and investment. Bank of China also said that the bond will list on London's bourse.
Singapore's Oversea-Chinese Banking Corp. Ltd. recently launched a $100 million private equity fund to invest in onshore Chinese companies over the next five years. The said fund will managed by OCBC Capital Equity Investment Management Co. based in Shanghai.
As the Chinese government plans to consolidate production, Anhui Conch Cement Co said it plans to increase its capacity to 30 million metric tons through acquisitions, Bloomberg reported.
