The increasing number of new hedge funds by global banks and asset managers in Asia threatened the business of smaller firms who had opened their independent firms just after the 2008 financial crisis.
Hong Kong
Anbang Insurance Group mulls bid for Hong Kong 's Wing Hang Bank- sources
Sources told Bloomberg that Beijing-based insurance firm Anbang Insurance Group was thinking of offering a bid for Hong Kong's Wing Hang Bank Ltd even though an Anbang press official said the company has no plans to purchase the lender.
China's Shuanghui to fight for control over Campofrio
Hong Kong-based Shuanghui International Holdings intends to offer a counter bid for Spanish meat processor Campofrio. Mexican food company Sigma Alimentos earlier offered Campofrio a takeover deal worth EUR695 million.
Top deals of the day - bids, mergers and acquisitions
The following bids, mergers, acquisitions and disposals were reported on Wednesday including Sinopec, Apache, AMR, US Airways, Deutsche Bank, EDF, Oxford, Andor, Bank Zachodni WBK, Shuanghui, Campofrio, OCZ, Toshiba and CVS Caremark.
China Everbright Bank Co to gather USD 1.5 billion in Hong Kong IPO
China Everbright Bank Co is set to raise USD 1.5 billion in its initial public offering in Hong Kong, based on calculations done on the lender's sale document.
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According to Speedtest.net, 30 countries including Moldova and Uruguay have faster Internet than the United States. Google Inc. has began building its fiber network in Kansas. A nationwide Google Fiber rollout, however, may cost USD1 billion.
Billionaire and Friendster Inc. owner Vincent Tan is reportedly looking to list his online payments company MOL Global Pte., and has been eyeing a dual listing in the Kuala Lumpur Stock Exchange and either in Hong Kong or Singapore.
The Indian Angel Network, the country's oldest and largest angel investor network, is hunting for investment opportunities in the UK and Singapore. IAN expects to announce its first UK deal during the first half of 2014, while it will begin its Singapore operations in the latter half of next year.
Chinese billionaire Yuzhu Shi and a Baring Private Equity Asia affiliate sought to take Giant Interactive Group Inc. private for USD11.75 per American Depositary Share (ADS). The consortium values the Chinese online game developer at USD2.82 billion.
YuanShengTai Dairy Farm, China's fourth biggest raw milk producer, is set to fall on its Hong Kong trading debut on Tuesday, after raising $425 million in the second initial public offering by a dairy company in the city in two months.
Japan's Fast Retailing Co. is planning a secondary public offering in the Hong Kong Stock Exchange next year. If successful, the Tokyo-listed retail holding company would become the third Japanese company to list in Hong Kong.
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.
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.
Multichannel, a US and Hong Kong-based full-automated ad management startup secures USD 3 million in seed funding. The platform is designed to be fully automated so that companies could focus on their ad campaigns instead of focusing on their dashboard.
