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Hong Kong's WeLab Aims For IPO At Valuation Up To $2 Billion: Report forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
April 25, 2021 Our exclusive reporting in the past week was dominated by the unicorns amid a flurry of fundraising and deal activity. In Indonesia, two of the biggest unicorns, Gojek and Tokopedia, have been in talks to merge, and details of their union are still emerging. Our report this week says that Gojek is likely to hold a majority stake of up to 60% in GoTo. The combined entity, expected to be valued at some $40 billion, is expected to list on the Indonesian stock exchange first, amid talk of a second listing in the US. At the same time, Tokopedia is likely to divest its stake in Indonesian digital wallet OVO to Grab. OVO, in which Grab also has a stake, is understood to be a major sticking point in the merger talks with Gojek, which has its own payments platform. ....
Editor's take: The week that was dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
$245M Insurtech Funding Wrap-Up: Corvus, AgentSync, Cowbell Cyber, WeLab, Hi Marley March 12, 2021 Some serious money has been sent the way of various insurance startups over the past week. Investors backed cutting-edge commercial lines and cyber insurance products as well as advances in texting communications, producer management and licensing compliance, and digital risk management for financial institutions. Here’s a wrap-up of some recent major funding commitments as reported by Carrier Management. Major Haul Corvus Insurance is prepping a major expansion and surge in its commercial lines and cyber product development now that it has secured $100 million in new venture capital financing. ....
· Underlying net profit attributable to shareholders down 35% to US$1,094 million and underlying earnings per share down 34% to US$1.96 · Southeast Asian businesses and Mandarin Oriental severely impacted by the pandemic, but resilience in Hongkong Land, Dairy Farm, Jardine Pacific and Jardine Motors · Continued investment for the long-term exemplified by US$4.5 billion investment by Hongkong Land in West Bund in Shanghai 2020 has brought major challenges to our teams and businesses, but also demonstrated once again the Group s ability to adapt and thrive as our businesses accelerated the pace at which they adopt technology and embraced digital ways of working. High levels of uncertainty remain in respect of this year, however, given the continuing impact of the pandemic. The Group s performance in the first part of 2021 is expected to be affected in particular by the conti ....