FAST NEWS: GCL New Energy Plunges with 20% Discount on Share Placement

The latest: GCL New Energy Holdings Ltd. (0451.HK), a subsidiary of GCL Technology Holdings Ltd. (3800.HK), announced on Thursday that it will place 2,275 million shares on a top-up placement basis, representing approximately 9.74% of the enlarged issued share capital, to not less than six independent places. Upon completion of the transaction, GCL Technology’s shareholding will be diluted from 49.24% to 44.44%. Looking up: The net proceeds from the placement will be HK$310 million ($39.8 million), of which 90% will be used to support the cost relating to the investment,…

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Plus Digital Seeks to Ride a Boom on Software Services for Retailers

The provider of digital sales and marketing tools for fast-moving consumer goods brands is seeking to go public in Hong Kong as sales of its subscription-based services boom Key Takeaways: Plus Digital has filed for a Hong Kong IPO, reportedly seeking to raise about $150 million Subscription-based software services have emerged as the new growth driver for the company in the past few years By Tina Yip As the Hong Kong IPO market shows signs of revival, Plus Digital Technologies Inc. is wasting no time trying to capitalize on booming…

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Private Equity Buyers Swirl Around VNET. But Will They Find Any Value?

MBK Partners and several other private equity firms are weighing bids for the least-respected of China’s three independent data center operators, according to a media report Key Takeaways: Korea’s MBK Partners is reportedly weighing a bid for VNET Group, three months after the data center operator received an unsolicited offer from another private equity firm VNET’s shares have stagnated since it received an original April buyout offer from Hina, indicating investors believe a deal for the company is unlikely By Doug Young VNET Group Inc.’s (VNET.US) days as an independent…

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