Vietnam 

Trường Thành Furniture to acquire ceramics firm to raise capital – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HÀ NỘI — Trường Thành Furniture Corporation (HoSE: TTF) would acquire Thiên Thanh Sanitaryware JSC on Tuesday to avoid the risk of cumulative losses outpacing charter capital, cafef.vn reported. After the merger, Trường Thành Furniture will take over the business activities of Thiên Thanh Sanitaryware JSC. The acquisition was approved at the former’s extraordinary shareholder meeting in late October 2018. At another extraordinary shareholder meeting the following month, shareholders in Trường Thành approved a plan to issue 96.6 million shares to swap for Thiên Thanh shares at a rate of 8.21 to 1.…

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Belgian brewer AB InBev prepares for Hong Kong IPO in July, plans to raise up to US$5 billion

Anheuser-Busch InBev is targeting a July listing for its Asia-Pacific operations as it moves forward with an initial public offering that could raise at least US$5 billion, people with knowledge of the matter said.The Belgian brewer has submitted an application to the Hong Kong stock exchange to sell shares in the unit, according to a filing posted to the bourse’s website on Friday. JPMorgan Chase and Morgan Stanley are leading the offering as joint sponsors, a preliminary prospectus shows.Bank… Source link

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Starbucks’ Chinese rival Luckin Coffee seeks to raise up to US$586.5 million in US initial public offering

Luckin Coffee, the Chinese challenger to Starbucks Corp, is looking to raise up to US$586.5 million, its filing with the US Securities and Exchange Commission on Monday showed.The company said it expects to offer 34.5 million American depository shares (ADS) priced between US$15 and US$17 per ADS in an initial public offering.Luckin Coffee, which has been expanding at breakneck speed, currently operates 2,370 stores in 28 Chinese cities and plans to open 2,500 more this year as it tries to… Source link

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Singapore 

Netizens raise $350k for leukaemia-stricken Malaysian boy in NUH with 1 month to live, Singapore News

Given a month to live, 11-year-old Tan Yong Hong is fighting another relapse of leukaemia at the National University Hospital (NUH) here. His sister, Tan Hooi Ling, created an online fund-raising campaign on the Give.Asia site earlier this month to help her family foot expected hospital fees of $300,000, including a down payment of $50,000. “Both my parents have been sleeping at the ward due to shortage of funds and I am still in school, staying at the dormitory,” wrote Ms Tan on the campaign’s page. Netizens touched by her…

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China’s Starbucks challenger Luckin Coffee files for US IPO, set to raise US$300 million

Luckin Coffee, the ambitious start-up that is challenging Starbucks in the race to dominate China’s growing coffee culture, filed for a US initial public offering.The Beijing-based company applied to list American depositary shares on Nasdaq under the ticker LK. The coffee unicorn is said to plan to raise around US$300 million in the IPO, Bloomberg News reported in February. Last week, Luckin raised US$150 million from BlackRock and other investors at a valuation of US$2.9 billion.Luckin is… Source link

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Vietnam 

Maritime Bank wants to raise $43 million from private share issuance – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    A Maritime Commercial Joint Stock Bank trading office. The bank is planning to sell 100 million shares to domestic investors via a private deal to raise VNĐ1 trillion. Photo cafef.vn HÀ NỘI — The Maritime Commercial Joint Stock Bank (MSB) is proposing shareholders approve a plan to raise VNĐ1 trillion (US$43 million) from private share issuance in the second half of this year. The bank’s board of directors plans to issue 100 million shares or maximum 8.5 per cent of its charter capital for domestic shareholders. The capital…

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Chinese brokerage giant seeks to raise US$1.25 billion in Hong Kong’s largest IPO this year

Shenwan Hongyuan, China’s sixth largest securities firm by market value, is seeking to raise as much as US$1.25 billion in Hong Kong’s largest IPO this year to replenish its capital and expand internationally.Shenwan, already listed on the Shenzhen Stock Exchange, is set to become the 12th Chinese brokerage firm with dual listings in Hong Kong and mainland markets.The firm, controlled by state-owned Central Huijin Investment, plans to sell 2.5 billion shares priced between HK$3.63 and HK$3.93… Source link

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Vietnam 

PV Gas raise dividend to 53 per cent, posting $124m revenue in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The company has already paid 40 per cent for 2018’s dividend and the remaining 13 per cent will be paid this year. Photo laodong.vn HÀ NỘI PV Gas (GAS) decided to raise its 2018 dividend from 40 per cent to 53 per cent thanks to its spectacular business performance last year. This information was reported at the company’s annual shareholders’ meeting on Tuesday. The company has already paid 40 per cent for 2018’s dividend and the remaining 13 per cent will be paid this year. PV Gas planned a low…

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Vietnam 

VN to raise VNĐ1.7 trillion to build national innovation centre – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The national innovation centre aims to enhance technology and innovation capacity of Vietnamese firms. – Photo tuyengiao.vn Viet Nam News HÀ NỘI — Việt Nam plans to raise VNĐ1.7 trillion (US$71.5 million) of investment from the private and foreign sectors to develop the national innovation centre (NIC). According to a draft project which the Ministry of Planning and Investment recently submitted to the Government for consideration, the NIC will be built on 23 hectares in Hòa Lạc Hi-tech Park, without using any State funds. Building the NIC…

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Hong Kong’s stock exchange posts its quietest first quarter since 2009 as blockbuster IPOs looked elsewhere to raise funds

Hong Kong’s stock exchange had the quietest first quarter in a decade, as its fundraising tally suffered from a dearth of blockbuster listings, while the US-China trade war deterred acquisitions and an increasingly stringent approvals process discouraged companies from raising fresh capital.Total equity capital market funds fell 66 per cent in the first three months to US$6.98 billion compared with last year, according to Refinitiv’s data, the worst quarter since 2009 when the market was roiled… Source link

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