SeaPRwire

Ninja Van ‘a year away’ from IPO: CEO

elean
3 minutes

SINGAPORE (THE BUSINESS TIMES) - E-commerce logistics player Ninja Van may pursue an initial public offering (IPO) in the US as early as next year. Ninja Van chief executive Lai Chang Wen told the Financial Times (FT) on Sunday (July 25) that the start-up is "a year away" from an IPO. In response to queries from The Business Times on the matter, a Ninja Van spokesman would only say: "Our focus at this point is on growing the business at a sustainable rate. This will put us in a good position to take advantage of the financial opportunities at a suitable time in the future." In its report, FT cited two sources as saying that the company had approached advisers to start discussions on a listing, most likely in the US. One of the individuals also claimed that Ninja Van had passed a US$1 billion(S$1.36 billion) valuation following its US$279 million funding round last year. However, data platform VentureCap Insights shows that the Series C round had valued Ninja Van at US$779.8 million. Ninja Van declined to comment on its valuation. FT also reported that Ninja Van is "almost break-even" and targeting profitability next year, which the Ninja Van spokesperson confirmed. According to Ven...

SeaPRwire

Chinese delivery start-up Lalamove weighs moving IPO from US to Hong Kong: Sources

elean
2 minutes

HONG KONG (BLOOMBERG) - Chinese on-demand logistics and delivery firm Lalamove is considering shifting its planned US$1 billion (S$1.36 billion) United States initial public offering (IPO) to Hong Kong, sources familiar with the matter said, as regulators in its home country crack down on the wave of firms chasing overseas listings. The company, which filed confidentially for a US IPO last month, is weighing a venue switch amid concerns about the uncertainty created by Chinese regulators' proposed new rules, the sources said, asking not to be identified as the information is private. While it is not clear whether companies such as Lalamove would be prevented from listing in the US, the firm is keen to avoid a lengthy delay in going public, the sources said. Deliberations are ongoing and Lalamove could still decide to proceed with its US IPO, they said. A representative for Lalamove said the firm continues to pay attention to capital markets but has no specific timeline and venue for an IPO. The fallout from the US$4.4 billion US IPO by China's Didi Global has thrown listing plans into disarray, after Chinese regulators barred the company's software from app stores and proposed new ...