Owners of Hong Kong lender Wing Hang Bank Ltd. had received preliminary bids for its sale. It has engaged Goldman Sachs Group Inc. to advise it on the deal. Wing Hang plans to sell the company for USD4.5 billion.
Investors
Secondary market investor Industry Ventures raises $425 mln fund
The San Francisco-based Industry Ventures, an investment firm that buys stakes in private companies through the secondary market, has raised a $425 million fund.
Mayfield Fund confirms backing of commercial drone maker 3D Robotics in USD30 million funding round
Private equity firm Mayfield Fund confirmed its USD6 million participation in robotics and commercial drone maker 3D Robotics' USD30 million funding round back in September.
Shine tracker maker Misfit Wearables nabs USD15.2 million from new growth round
Hardware startup Misfit Wearables raised USD15.2 million in fresh capital in a funding round led by Li Ka-shing's Horizons Ventures and also participated by its existing investors.
Shares of Australia's Dick Smith see a five-fold increase in stock market debut
Australia electronics chain Dick Smith Holdings Ltd's rise on the Australian Stock Exchange had put its enterprise value to five times its value at the time of its buyout at AUD534 million.
Latest News
German medical supplies manufacturer Gerresheimer on Wednesday confirmed that it is no longer vying for UK-based Rexam's healthcare packaging unit. The company said the healthcare business did not fulfill its acquisition requirements.
Nine Entertainment Co., Australia's second-largest media company, seeks to raise AUD643 million (USD582 million) in its initial public offering. If successful, the deal could give Nine a market capitalization of AUD1.93 billion.
Denmark-based pension fund PensionDanmark is set to invest GBP153 million in six onshore wind farms of Falck Renewables, in a deal that will give the Danish firm a 49% stake in the energy sites in Wales and Scotland.
Real estate major Shui On Land Ltd. is divesting its entire stake in the company that operates the Taipingqiao project in Shanghai for USD545 million. The Chinese property company is selling its assets to repay debt and improve its financial position.
Google acquired seven robotics firms in the past six months to create manufacturing and logistics robots for a project under Android founder Andy Rubin to compete with Amazon's flying delivery drones.
Russia-based platform for publishing and viewing educational content BeSmart.net will receive USD4 million in total investment over the next three years from Hong Kong's Education Matrix.
Japanese electronics conglomerate Sony Corp. may spend JPY10 billion on a chip plant it intends to buy from Renesas Electronics Corp. Sony is reportedly increasing its chip output to boost its profits.
Chinese investment firm Sailing Capital Management has launched a USD821 million (CNY5 billion) cross-border buyout fund through Shanghai Sailing Industrial Capital, a subsidiary of the company.
American retail chain Abercrombie & Fitch's shares increased by 5.8% to USD35.99 per share after activist investor Engaged Capital urged the firm to change its leadership and explore a possible sale.
