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☆ BlackRock, Fidelity snap up Hyundai India shares in record $3.3 billion IPO
▼ + stars: | 2024-10-15 | by ( ) www.cnbc.com time to read: +2 min

Amit Dave | ReutersHyundai Motor India sold shares worth $989.4 million to institutional investors including BlackRock and Fidelity on Monday, as the carmaker launched a $3.3 billion IPO that will be the country's largest share offering yet. The Government of Singapore and BlackRock together picked up stakes worth a total of $77.3 million, while Fidelity bought shares worth $76.5 million. The year-to-date volume has already surpassed the $7.42 billion total raised last year. watch nowAt that size, Hyundai India will make up about 40% of its parent company Hyundai Motor's market capitalization. Hyundai India's IPO is set to eclipse the country's previous record of Life Insurance Corporation of India's 2022 deal when it raised $2.5 billion.

Persons: Amit Dave Organizations: Hyundai Motor India, Reuters Hyundai Motor India, BlackRock, Fidelity, Singapore, Hyundai, Retail, Life Insurance Corporation, India's, IDBI, Hyundai India Locations: Ahmedabad, India, Hyundai India, Mumbai

☆ Why Singapore is quickly becoming the choice location for firms to support global carbon markets
▼ + stars: | 2024-02-15 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

Carbon credits continue to play an important role in the global transition towards net zero. As an innovative financing mechanism, carbon credits allow corporates to mobilize capital to support emission-reduction projects. The decision to anchor CAD Trust in Singapore stems from acknowledging that transparency and governance are rooted in its DNA. Why Singapore is a prime location for firms to support global carbon marketsSingapore has successfully attracted more than 100 carbon market and services players to establish the city-state as their home base in Southeast Asia. Singapore's expertise in carbon services and its trailblazing move implementing Southeast Asia's first carbon tax in 2019, also appealed to Calyx Global.

Persons: — Dinesh Babu, Grace Fu, Duncan van Bergen, Van Bergen, — Duncan van Bergen Organizations: Reuters, Singapore, for Nature, National University of Singapore, Data Trust, Government of, Emissions Trading Association, Singapore's, Sustainability, Meta, Trust, Insider Studios, Singapore Economic Development Board Locations: Dubai, Singapore, Government of Singapore, South Asia, Southeast Asia, Oceania, Africa, Paris, Bhutan, COP28, Asia

Djamani was sentenced to the mandatory death penalty in 2018 after being convicted of possessing 31 grams of heroin. Djamani is the first woman to be hanged in Singapore since hairdresser Yen May Woen, 36, in 2004, who was also convicted of drug trafficking. Criminal lawyer Joshua Tong said those convicted of drug trafficking were usually men, but he had seen “his fair share” of women drug offenders. We demand an immediate moratorium on the use of the death penalty,” the group wrote on X, formerly known as Twitter. The case put Singapore’s zero-tolerance drug laws back under scrutiny, with rights advocates arguing the mandatory death penalty for drug trafficking is an inhumane punishment.

Persons: Saridewi, Djamani, Yen, Woen, ”, Celia Ouellette, “, ” Adilur Rahman Khan, Chiara Sangiorgio, Joshua Tong, Tong, Mohd Aziz bin Hussain, Kirsten Han, “ TJC, Suppiah, Dharmalingam Organizations: CNN, Singapore, Central Narcotics Bureau, Business Initiative for Justice, International Federation for Human Rights, Ministry of Home Affairs, Twitter, United Nations Office, Drugs Locations: Changi, Singapore, “ Singapore, France, Asia, East, Southeast Asia

☆ Singapore's sovereign wealth fund is looking to invest more in the secondary market, as other VC funds look to sell
▼ + stars: | 2023-05-15 | by ( Alistair Barr | ) www.businessinsider.com time to read: +2 min

GIC, Singapore's sovereign wealth fund is keen on doing more in the secondary market, where private stakes in startups and VC funds change hands. That means there's pressure on distributions, which is the cash returned to VC and startup investors. GIC has a private-equity team that specializes in the secondary market. There's been a growing number of secondary funds and exchanges that help founders, employees, and even investors and VC funds sell their startup shares. So as some VC funds look to sell in the secondary market now, GIC has more freedom to be a buyer.

☆ India's Mankind Pharma soars 31%, valuing condom maker at almost $7 bln
▼ + stars: | 2023-05-09 | by ( Rama Venkat | ) www.reuters.com time to read: +2 min

BENGALURU, May 9 (Reuters) - Shares of Manforce condom maker Mankind Pharma Ltd (MNKI.NS) surged as much as 31% in debut trading on Tuesday, valuing the company at 566.43 billion rupees ($6.93 billion) in the country's biggest listing so far this year. The company, which also owns India's top at-home pregnancy testing kit Prega News, opened at 1,300 rupees, staying above that mark through the morning session and hitting its highest at 1,414 rupees. It was seeking a valuation of 432.64 billion rupees ($5.29 billion) at the upper end of a price band it set for its initial public offering last month. The strong debut will likely lift the sentiment for the IPO market overall." The company's IPO had an offer for sale of shares worth 43.26 billion rupees from existing shareholders, including its founder Ramesh Juneja, and allocated 12.98 billion rupees worth of shares to 77 anchor investors including Canada Pension Plan Investment Board, Government of Singapore, Goldman Sachs and Abu Dhabi Investment Authority.

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