VNG had officially filed for the IPO last month.
Malaysian wealthtech firm Versa aims for profitability by 2027, says GTV to double every year
Asia PE-VC Summit 2023: The Middle East is in a position to spur investments in Asia
TikTok's rise in Southeast Asia spells trouble for US rival Snapchat
US readies rules to prevent China from cashing in on $52b chip funding
PE giant KKR asks Telecom Italia to extend deadline for grid bid
Hit by China-US tensions, GGV Capital to spin off Singapore-based Asia business
Singapore’s Growtheum Capital closes debut fund at $567m, a tad below target
Bold cash burn helps TikTok nearly triple 2022 revenue in Asia but losses widen
Malaysian pension fund KWAP launches $107m vehicle to invest in startups, VCs
Indonesian fintech startup Finantier said to have shut down
Beijing Fourth Paradigm and Tuhu Car also priced at the bottom of their marketing range.
The share price fall casts doubts on whether a hoped-for revival in IPOs will materialise.
It may still be a tough time for offerings given high interest rates.
Ola Electric was valued at $5.4b in a recent fundraising.
Rest of Asia
Hyundai Global Service targets a valuation of $3-4b.
ADES said it drew nearly $76.5b in orders from institutional investors.
Klaviyo said it priced 19.2m shares at $30 apiece.
The firm is backed by Tencent, Carlyle Group, and Sequoia China.
Doosan Corp’s stake in Doosan Robotics will shrink to around 68% from 91% following the IPO.