Capital markets news | Thu 29 Feb 2024

Capital markets news | Thu 29 Feb 2024

Equity

• IPO valuation decline persists despite robust pipeline Edge

• Capital A finalises merger agreement with Nasdaq-listed SPAC Mail Star Edge

• AI the new obsession for venture capital investing Mail

• Olam’s agricultural unit dual listing delayed again Star

• Vietnam seeks more IPOs, share sales to boost its stock market Edge

• Kedaara close to raising USD1.7b for India’s biggest PE fund Edge

• Private equity firm Creador buys 18% of Asialink in Philippines Edge

Debt

• Alliance Bank to raise SME green project loan offerings Star

• Flawed valuations in private credit boom Star

Mergers and acquisitions

• Affinity to start bidding for Penang’s Island Hospital valued at RM4b Edge

• Reliance and Disney in USD8.5b India media assets merger Mail Edge

• Vodafone in talks to sell Italian unit to Swisscom Mail

• Glencore eyes Shell Singapore assets as CNOOC pulls out Star Edge

• Japan retailer Aeon to merge with drugstore chains Tsuruha and Welcia Edge

• GoTo and TikTok compliance with Indonesia trade regulation almost 100% Edge

Projects and business

• Camfil Malaysia expand manufacturing plant NST

• Southern Score wins RM618m contract to build two apartment blocks Edge

• Sunview in talks to build USD1b solar PV plant in Uzbekistan Edge

• SESB eyes 30% reserve margin Edge

• Video game giant Electronic Arts announces job cuts Mail

• Apple’s EV wind down offers reprieve to rivals Star

• Trudeau’s pipeline project increases cost estimate Star

• Toyota’s global output rises by 7% in Jan Star

Economy and market news

• Government eyes putting KL among top 20 cities for startups NST

• No prospect for Malaysian glove companies yet NST

• Malaysia’s export and import unit value indices slip in Jan Star

• US stocks slip before inflation data as bitcoin breaks USD60k Mail Edge

• UK ‘net zero’ economy bucks recession, study shows Mail

• US consumer confidence dips sharply as political worry grows Mail

• NZ central bank holds rates, surprising markets Star

• China steers solar module export stream towards Asia Star

• Tetra Pak to close Singapore factory affecting 300 workers Star

• Australia’s Jan inflation steady at 3.4% Star

• Bond traders capitulate to Fed’s outlook on cuts Star

• US lawmakers reach deal to avert govt shutdown Edge

• Commercial property landlords benefit from German property slump Edge

• Global LNG demand to grow in 2024 from China and Europe Edge

Legal and policies

• Economy Ministry to coordinate JS-SEZ working committee meetings Edge

• Country Garden faces winding-up petition in Hong Kong Mail Star Edge

• UK says new Hong Kong security bill breaches handover deal Edge

• Google hit with USD2.3b lawsuit by Axel Springer, other media groups Edge