Capital markets news | Mon 4 Mar 2024

Capital markets news | Mon 4 Mar 2024

Equity

• ACE Market-bound Alpha IVF to raise RM466.5m from IPO Star NST Edge

• Short selling of AirAsia X shares suspended by Bursa Star Edge

• JAKS to raise RM53.15m via private placement Edge

• Investors swarm into tech stocks and crypto Star Edge

• Reddit seeks up to USD6.5b valuation in IPO NST Edge

• ADQ explores Etihad IPO Edge

• Fisker seeks financial rescue with EV maker’s survival in doubt Edge

• China’s EV maker IM Motors raises USD1.1b Edge

• Norway wealth fund sells stakes in Jardine firms on environment concerns Edge

• Ex-HSBC veteran aims to reshape Philippines’ USD30b fund Edge

Debt

• RM15m to help Sabah manufacturers Mail

• Tekun allocates RM65m to 4,000 Selangor entrepreneurs Mail

• RM1b fund to foster Bumiputera entrepreneurs Edge

• HSBC and StanChart explore transition credits for coal clients Edge

Mergers and acquisitions

• KUB Malaysia to acquire remaining 40% stake in KUB Sepadu Star Edge

• Pekat sells vacant Shah Alam industrial plot for RM21m cash Edge

• Mapletree to buy Malaysian and Vietnam properties for SGD234m Edge

• Bridgepoint eyes USD4.4b sale of MotoGP rights holder NST

• Boeing in talks to buy supplier Spirit Aero Mail Edge

• Russia’s Rosneft to sell German assets Edge

• UK plc attracting wave of takeover offers from foreign suitors Edge

• New World Development sells Hong Kong mall for USD514m Edge

Projects and business

• Hibiscus to write off RM27m commercially unviable well Star NST Edge

• EPF to focus on cash generation, not digital assets NST

• Zhejiang Sinopont Tech establishes first solar plant in Malaysia NST

• Philippines’ top energy firms partner for USD3.3b LNG facility Edge

• Great Eastern’s valuation Edge

• JPMorgan picks HSBC and StanChart to run USD500b custody business Edge

• Germany’s Aareal warns one quarter of US office loans bad Edge

Economy and market news

• Manufacturing PMI rises slightly Star Mail

• 488 bio companies made RM20.4b profits Mail

• Asia’s factories struggle for growth as China, Japan falter Star

• China’s Feb factory activity shrinks for 5th month Star Mail

• Japan’s Feb factory activity shrinks most in over 3 years Star

• Britain turns screw on pension funds to back UK assets NST

• China’s annual refining capacity ranks first globally in 2023 Mail

• Fed monetary policy report warns on financial sector vulnerabilities Edge

• Copper slips on shrinking activity in China manufacturing Edge

• Hong Kong attracts 24 applicants for crypto exchange permits Edge

Legal and policies

• Country Heights to be suspended for missing quarterly report Star NST Mail Edge

• Sapura Energy’s Mexican unit declared bankrupt Edge

• Cabotage exemption for foreign cable repair vessels restored Edge

• US spy-tech firm Palantir faces rocky path to European ambitions Mail

• Boeing agrees to USD51m settlement for export violations Mail Edge

• Vietnam property tycoon accused of embezzling USD12b Edge

• X could face EU’s digital dominance crackdown Edge

• India’s Paytm fined over USD662k for money laundering Edge

• US probes security risks in Chinese cars, mulls limiting imports Edge

• Deutsche Bank to file liquidation suit against Chinese developer Shimao Edge