Didi prices US IPO at top of range to raise more than $5.4 billion
HONG KONG (BLOOMBERG) – Chinese ride-hailing giant Didi Global Priced shares in its US initial public offering at the top of a marketed range to raise at least US$4 billion […]
Elon Musk to invest up to $40 billion in his Starlink satellite Internet service
BARCELONA (REUTERS) – Billionaire entrepreneur Elon Musk said on Tuesday (June 29) he plans to invest up to US$30 billion (S$40.4 billion) to develop his ambitious Starlink satellite Internet service. […]
China’s ride-hailing giant Didi seeks up to $5.4 billion in US IPO
HONG KONG (BLOOMBERG) – Chinese ride-hailing giant Didi Chuxing is looking to raise as much as US$4 billion (S$5.4 billion) in one of the biggest United States initial public offerings […]
Saudi Aramco raises US$6b in debut Islamic bond sale
RIYADH (AFP) Saudi Aramco on Thursday said it raised US$6 billion (S$8.05 billion) from its first dollar-denominated Islamic bond sale, as the energy giant seeks capital to fund its hefty […]
Didi duo set for billion dollar fortunes on ride-hailing IPO
HONG KONG (BLOOMBERG) – Cheng Wei, the co-founder of Chinese ride-hailing giant Didi, is poised to shoot up the ranks of the super-wealthy when his firm lists shares in the […]
Chinese ride-hailing giant Didi reveals $2 billion loss in US IPO filing
NEW YORK (BLOOMBERG) – Chinese ride-hailing company Didi revealed a US$1.6 billion (S$2 billion) net loss for 2020 as it moves ahead with plans for a US initial public offering […]
Investing in Grab: ‘It’s about how CEO spoke to his mum’
Sometimes, the investment journey to creating a US$40 billion (S$53 billion) valuation company can begin with a missed opportunity to fund a US$100 billion firm when you could have got […]
Tolaram’s free zone invites S’pore firms to invest in Africa
SINGAPORE – If not for the fact that it is building West Africa’s largest deep water port and free trade zone, Tolaram Group would be best known as the company […]
A 1,100-year-old poem cost Meituan’s CEO US$2.5 billion, his company US$26 billion
HONG KONG (BLOOMBERG) – It took just 28 Chinese characters on an obscure social media platform to ignite a controversy that’s rattled the country’s tech industry. Meituan CEO Wang Xing […]
Amazon borrows US$18.5 billion it doesn’t need as companies take advantage of cheap money
NEW YORK (BLOOMBERG) – Amazon.com sold bonds to refinance debt and buy back stock, as cheap borrowing costs prove too tempting to resist even for a company with tens of […]
OCBC Q1 profit more than doubles to record $1.5 billion
SINGAPORE – OCBC beat market expectations on Friday (May 7) as its first-quarter profit more than doubled on the strong performance of its wealth and insurance businesses and lower allowances for bad […]
UOB Q1 profit rises 18% to $1 billion, beating expectations
SINGAPORE – UOB, like DBS Group last week, posted a strong start to 2021 with broad-based growth driven by record fee income. Singapore’s third-largest bank topped market forecasts, recording an […]
Jeff Bezos sells US$2.5 billion of Amazon shares and signals more coming
NEW YORK (BLOOMBERG) – Jeff Bezos sold about US$2.5 billion (S$3.3 billion) of Amazon.com stock, his first big disposal this year after offloading more than US$10 billion worth of shares […]
Amazon Q1 profit triples to US$8.1 billion, sees spring windfall as US economy reopens
NEW YORK (REUTERS) – Amazon.com, one of the biggest winners of the Covid-19 pandemic, posted record profits on Thursday (April 29) and signaled that consumers would keep spending in a […]
DBS buys 13% stake in Shenzhen bank for $1.08 billion as it ‘doubles down’ on China’s Greater Bay Area
SINGAPORE – DBS Group has agreed to buy a 13 per cent stake in privately-owned Shenzhen Rural Commercial Bank (SZRCB) for 5.29 billion yuan (S$1.08 billion), part of its plan […]
Singapore-based TE Asia Healthcare looks to join US$1 billion club
SINGAPORE (BLOOMBERG) – TE Asia Healthcare Partners, backed by private equity firm TPG Capital, expects to achieve a valuation of US$1 billion (S$1.33 billion) in five years as it expands […]
JPMorgan sells US$13 billion of bonds in largest bank deal ever
NEW YORK (BLOOMBERG) – JPMorgan Chase & Co sold US$13 billion (S$17.35 billion) of bonds on Thursday (April 15), the largest deal ever by a bank, taking advantage of some […]
Jack Ma’s fortune jumps US$2.3 billion after record Alibaba fine
NEW YORK (BLOOMBERG) – China just slapped a record antitrust fine on Alibaba Group Holding. The company thanked the government and investors breathed a sigh of relief. Alibaba’s American depositary […]
Temasek, BlackRock to raise billions for carbon-cutting start-ups
NEW YORK (BLOOMBERG) – Two of the world’s most powerful money managers are joining forces to build a business on climate-change investing and raise one of the largest venture-capital funds […]
Credit Suisse tightens hedge fund limits amid Archegos fallout
ZURICH (BLOOMBERG) – Credit Suisse Group is tightening the financing terms it gives hedge funds and family offices, in a potential harbinger of new industry practices after the Archegos Capital […]