Equity

MUMBAI/BANGALORE: A consortium ofprivate equity (PE) funds including Tata Capital’s PE fund and Morgan StanleyGlobal Private Equity will pick up a significant minority stake in urbanmicrolenderJanalakshmi Financial Servicesfor close to Rs 350 crore, signallingconfidence in the long-term potential of themicrofinance industry after being shattered by the financial crisis in Andhra Pradesh. The infusion of fourth round of funding comes at a time when former Citi banker Ramesh Ramanathan-promoted non-banking finance company has …

(Reuters) – News and developments in Asia private equity from Reuters News for the week ending March 16.  MARCH 16 PRIVATE EQUITY firm CVC Capital Partners Ltd is pulling out of Australia, Asia-Pacific’s biggest buyouts market, as it faces one of the largest ever losses for a firm in the region and rapidly fading bank support, people familiar with the situation …

(Reuters) – News and developments in Asia private equity from Reuters News for the week ending March 9.   MARCH 9 PRIVATE EQUITY-controlled Link Group, a share-registry company, is looking to raise capital for global expansion through a stake sale, with global buyout funds lining up as bidders, according to sources with knowledge of the matter. CVC CAPITAL Partners Ltd …

BEIJING, Feb. 23 (Xinhuanet) — Alibaba Group Holding Ltd’s bid to privatize its Hong Kong-listed business-to-business arm, Alibaba.com Ltd, could help the company retune its operating strategy and add flexibility to ongoing negotiations with Yahoo Inc, said analysts. “Privatizing Alibaba Group’s B2B sector is one of the steps for the company to build a more efficient and cooperative e-commerce platform,” …

SHANGHAI: One of China’s biggest train makers said Wednesday it plans to raise 7.1 billion yuan (US$1.1 billion) through a rights issue, after a fatal crash last year starved the sector of funds. State-owned China North Locomotive and Rolling Stock Industry Corporation (CNR), which makes trains for the Beijing-Shanghai high-speed rail line, will use the funds to upgrade technology and …

SINGAPORE/NEW DELHI: Reliance Communications has appointed another two banks for the upcoming $1 billion IPO of its undersea cable unit in what may be the biggest stock listing in Singapore this year, two sources said.  Standard Chartered and DBS Group Holdings will join Deutsche Bank as the main advisers in an initial public offering, which will help the debt-laden Indian …

The country’s biggest port builder sells 1.35 billion shares at Rmb5.4 each, the higher end of the price range. China Communications Construction (CCC), the country’s biggest port builder, raised Rmb5 billion ($793 million) on Thursday after offering shares at the top end of the indicated price range. The company had to cut the size of the offering by as much …

The specialist steelmaker will become the first company of size to list in Hong Kong this year. Chinese steelmaker Xiwang Special Steel has raised HK$1.33 billion ($171 million) from the first initial public offering of size in Hong Kong this year. Investors weren’t exactly rushing into the deal, though, and according to sources the stock was mainly bought by a …

India’s largest commodities exchange sets the price range for an initial offering of up to $134 million. The deal will kick off with the anchor tranche on Tuesday. Multi Commodity Exchange of India (MCX) yesterday said it aims to raise between Rs5.53 billion and Rs6.63 billion ($111 million to $134 million) from India’s first initial public offering this year. All …