Singapore Financial News

IPOs in August: The primary market witnessed some major listings in both main board and SME IPOs in July, which kept investors engaged with subscriptions and listings. Moving on, August will also witness new listings some much-awaited IPO issues that are available for subscription. Let's take a look at some of the companies that are opening for subscription this month, along with few that are getting listed on the bourses.

By Hyunsu Yim

Ahead of the IPO, the company has raised Rs 465 crore in the anchor round, which saw participation from marquee foreign and domestic institutional investors, including The government of Singapore, Abu Dhabi Investment Authority, Government Pension Fund Global, UTI Mutual Fund, DSP Mutual Fund, SBI Life among others. Concord, which is backed by Quadria Capital Fund and Rakesh Jhunjhunwala's Rare Enterprises, is one of the leading global manufacturers of select fermentation-based APIs (F-APIs) across immunosuppressants and oncology with a market share of over 20% by volume in 2022. The IPO is completely an offer for sale of 2.09 crore equity shares up, aggregating up to Rs 1,551 crore.

India REIT is planning to raise an additional up to Rs 1,150 crore through a combination of preferential issue of units to its sponsor group and commercial paper following its qualified institutional placement (QIP) worth Rs 2,305 crore earlier this week. The REIT will be raising nearly Rs 400 crore through the issuance of up to 1.27 crore units to a sponsor group entity Project Diamond Holdings.

capital market regulator’s approval for the launch of IPO in July. Read here: TVS Supply Chain Solutions gets Sebi's nod for IPO launch.

Hong Kong has taken a major step today in embracing cryptocurrency by granting a retail trading license to HashKey, making it the first platform in the country to receive such authorization.

Concord Biotech IPO: Rare Enterprises-backed Concord Biotech said in an exchange filing that it has raised ₹465 crore from anchor investors, a day ahead of its initial public offer (IPO) opening for bidding. Concord Biotech IPO will open for subscription on Friday, August 4 and close on Tuesday, August 8. The company had fixed the price band at ₹705 to ₹741 per equity share for the proposed initial public offer.

A freight ship carrying thousands of cars that burned for a week on the North Sea has been towed to a Dutch port for salvage

MUMBAI : Billionaire Anil Agarwal-led Vedanta Ltd’s shares plunged 9% in intraday trade to ₹247.60 apiece on exchanges after S&P Global Ratings downgraded the parent firm Vedanta Resources Ltd’s credit outlook from stable to negative on Thursday when Twin Star Holdings Ltd, promoter of Vedanta, sold 15.4 crore shares worth ₹3,983.1 crore in the company to raise funds for repaying dues. While marquee investors including Societe Generale and Copthall Mauritius Investment Ltd bought 2.94 crore and 8.48 crore Vedanta shares from Twin Star at ₹258.5 apiece respectively, in a statement put out in Singapore, S&P Global Ratings downgraded Vedanta Resources citing increased funding risks. The rating agency has affirmed ‘B-’ long-term issuer credit rating for the London-based parent firm.

₹247.60 apiece on exchanges on Thursday after S&P Global Ratings downgraded the parent firm Vedanta Resources Ltd’s credit outlook from stable to negative on Thursday when Twin Star Holdings Ltd., promoter of Vedanta, sold 15.4 crore shares in the company worth ₹3,983.1 crore to raise funds for repaying dues. Marquee investors including Societe Generale and Copthall Mauritius Investment Ltd bought 2.94 crore and 8.48 crore Vedanta shares from Twin Star at ₹258.5 apiece respectively. Shares of Vedanta Ltd ended 6.65% down at ₹254.05 apiece on NSE, which is 1.72% lower than the floor price at which Societe Generale and Copthall Mauritius Investment purchased the shares from Twin Star.

Mahindra & Mahindra and Temasek, the Singapore-headquartered global investment firm, have executed a binding agreement for the latter to invest Rs1200 crores into MEAL (Mahindra Electric Automobile Limited), the four-wheeler (4W) passenger electric vehicles company, Mahindra and Mahindra said in a filing to the stock exchanges. Temasek will invest Rs1200 crores in the form of Compulsorily Convertible Preference Shares (CCPS) at a valuation of up to Rs 80,580 ($9.74 billion) crores resulting in Temasek’s ownership of a 1.49% to 2.97% stake in MEAL. ET had reported on the company’s fund-raising plans in its July 10 edition.

₹1,200 crore in its electric vehicle subsidiary Mahindra Electric Automobile Ltd (MAEL). The Indian auto major M&M and Singapore-headquartered Temasek have executed a binding agreement for the investment in the four-wheeler (4W) passenger electric vehicles company. Temasek Holdings will invest the money in the form of Compulsorily Convertible Preference Shares (CCPS) at a valuation of up to ₹80,580 crore.

Temasek Holdings and Mahindra & Mahindra have executed a binding agreement whereby the former will invest Rs 1,200 crore in the latter’s subsidiary Mahindra Electric Automobile Ltd. Temasek will invest the money by subscribing to compulsorily convertible preference shares at a valuation of Rs 80,580 crore, M&M said in a release. This investment will result in Temasek holding a 1.49-2.97% stake in Mahindra Electric Automobile.

Liverpool and Bayern Munich are against each other in a pre-season friendly match at the Singapore National Stadium on August 2, 2023. Both teams will use the opportunity to assess new signings and gain crucial match minutes ahead of the upcoming season.

By Harry Robertson and Rae Wee

Kyle Davies, co-founder of now-defunct crypto hedge fund Three Arrows Capital, has claimed that US courts don't have jurisdiction over him as he has renounced his American citizenship.

Brookfield India Real Estate Trust has raised Rs 2,305 crore by selling units to institutional investors on private placement basis and will mainly use this fund for acquisition of two assets in Gurugram and Mumbai. In a regulatory filing, Brookprop Management Services Pvt Ltd, which is manager to Brookfield India REIT, informed that the issue committee has approved the allotment of 9,13,01,349 units to 64 successful eligible institutional investors, at the issue price of Rs 252.50 per unit. The names of investors were not disclosed.

Australia’s ambitions to develop a green hydrogen industry have suffered only a temporary setback from the US Inflation Reduction Act, and enjoy positive prospects at the hands of state and federal policies, funding support, and demand from key Asian trading partners.

The Dutch government says a fire that had been burning on board a cargo ship carrying thousands of new cars appears to have burnt itself out after nearly a week

Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has submitted documentation to court claiming he is fully a citizen of Singapore and not the United States.

UPI) registered 9.96 billion transactions in July, with the total value for the month hitting Rs 15.34 lakh crore, according to data from the National Payments Corporation of India (NPCI). This shows a 6.6% jump in the number of transactions via UPI from 9.34 billion in June.