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Stratus Global to Raise MYR285 Million Via IPO

Stratus Global (KLSE:STRATUS) seeks to raise 285 million ringgit via an initial public offering on the Main Market of Bursa Malaysia, according to its Thursday prospectus.The IPO comprises a public issue of 356.3 million new shares at an issue price of 0.80 ringgit per share, the automation company said.Aside from listing expenses, the proceeds will be used for expansion, for debt payment and for working capital requirements.

KLSE:STRATUS

Research34d ago

Beansprout Starts United Hampshire US Real Estate Investment Trust at Buy With $0.62 Price Target

SGX:ODBU

Asia34d ago

Nomura Adjusts LG Innotek's Price Target to KRW930,000 From KRW540,000, Keeps at Neutral

LG Innotek (KRX:011070) has an average rating of buy and mean price target of 1,063,318.10 won, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

KRX:011070

Asia34d ago

Update: Market Chatter: OCBC to Hire 600 Additional Relationship Managers Over Next Three Years

(Updates story to reflect OCBC confirmation)Singapore-based Oversea-Chinese Banking Corporation (SGX:O39) plans to increase its relationship manager headcount by 600 over the next three years, a company spokesperson confirmed toon Wednesday.The lender also intends to invest over SG$1 billion annually over the next few years on artificial intelligence, digital services, and data, Reuters reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SGX:O39

Asia34d ago

ISOTeam Appoints COO

ISOTeam (SGX:5WF) named Teo Teck Sing as the company's chief operating officer, effective July 1, according to a same-day filing with the Singapore Exchange.Teo was previously the company's chief financial officer, assuming the role in March 2020.

SGX:5WF

Asia34d ago

Taiwan to Lower Fuel Surcharges on International Flights as Fuel Prices Drop

Taiwan will reduce fuel surcharges on international flights operated by its airlines from July 7 after global aviation fuel prices declined, the Civil Aeronautics Administration said Wednesday.The surcharge for short-haul routes will fall to $27.5 from $35, while long-haul routes will be cut to $71.5 from $91.The regulator said the adjustment follows a drop in the benchmark international aviation fuel price to $133.29 per barrel from $160.10. It also instructed airlines to clearly disclose the revised surcharges to passengers.

Taiwan Weighted

Asia34d ago

Tech Mahindra Unit to Acquire Brazil IT Services Firm; Shares Up 3%

Tech Mahindra (NSE:TECHM, BOM:532755) said its wholly-owned subsidiary, Tech Mahindra Servicos De Informatica, signed and executed a quota purchase agreement with Orange Business Services Brasil to acquire Alyis Serviços Técnicos LTDA for 1.2 million Brazilian real.The deal is part of a collaboration signed between Tech Mahindra and Orange Business to outsource certain global operations, including customer support, post-sale support and quote to bill, according to an Indian bourse filing on Wednesday.Upon deal completion, Alyis Serviços Técnicos will become a wholly-owned unit of Tech Mahindra Servicos De Informatica and a step-down subsidiary of Tech Mahindra.Tech Mahindra shares rose nearly 3% in recent trade.

BOM:532755NSE:TECHM

Asia34d ago

Market Chatter: Chinese Electric Truck Startup Seeks US SPAC Listing, CEO Says

Chinese electric lorry start-up Windrose Electric is looking to list its shares in the U.S. through a special purpose acquisition company at a value of at least $2 billion, the Financial Times reported Wednesday, citing an interview with CEO Wen Han.Windrose is seeking to raise more than $200 million through a SPAC merger by the end of 2026, the newspaper said, citing Wen.The company aims to dominate the electric truck market, Wen said in the interview with FT.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE

Asia34d ago

Market Chatter: Japanese Investors Led by JBIC to Extend Up To 80 Billion Yen Financing for Power Grid Project in India

State-backed Japan Bank of International Cooperation, along with other investors, including Sumitomo Mitsui Banking Corp, is said to be extending financing up to 80 billion yen to develop a power grid in India, according to a Nikkei report on Thursday quoting sources.As per the report, the Japanese investors will provide syndicated financing for a high-voltage direct current (HDVC) transmission project being developed by the Power Grid Corporation of India (NSE:POWERGRID, BOM:532898).The project is expected to start operations in 2029.The announcement for the project is expected to be made on Thursday during Japanese Prime Minister Sanae Takaichi's visit to India and meeting with her counterpart, Indian Prime Minister Narendra Modi.Japan Bank of International Cooperation and Sumitomo Mitsui Banking did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^BSENikkei 225Nifty 50BOM:532898NSE:POWERGRID

Asia34d ago

Daio Paper Says Transfer of Subsidiary Equity Interest, Asset Still Pending

Daio Paper (TYO:3880) said the planned transfer of part of its equity interest in the consolidated subsidiary Forestal Anchile LTDA and the warehouse real estate related to its Kawasaki operations is delayed, according to a Wednesday filing on the Tokyo Stock Exchange.The Tokyo-listed company said it is proceeding with the procedures for the transactions, and there is no change to its policy of proceeding with the transfers.

TYO:3880

Asia34d ago

Market Chatter: Hotai Motor CEO Trims Auto Sales Forecast Amid Supply Constraints

Hotai Motor (TPE:2207) Chief Executive Su Chun-hsing said Taiwan's new car market is expected to sell about 430,000 units this year, lowering the company's previous forecast of 440,000 units, CNA reported Wednesday.At the official launch of the new Toyota Hilux, Su attributed the revision to persistent shortages of hybrid and electric vehicle supplies and uncertainty surrounding U.S. vehicle tariff policies, which have prompted some consumers to delay purchases, according to the report.Despite the weaker outlook, Su said Hotai expects sales to improve in the second half of the year and has kept its sales targets unchanged, adding that hybrid and electric vehicles now account for nearly half of Toyota and Lexus sales in Taiwan, CNA said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TPE:2207

Asia34d ago

Lotte Rental Confirms TPG Due Diligence; Shares Down 3%

Lotte Rental (KRX:089860) confirmed discussions regarding the potential sale of its shares to US private equity firm TPG, according to a Thursday Korean bourse filing.Responding to reports by Korea Economic Daily and other media outlets, the company said no specific terms have been agreed.Shares of the vehicle rental company fell nearly 3% in recent trade.

KRX:089860

Asia34d ago

Lotte Chemical Reviewing Strategic Options for Malaysian Production Plant

Lotte Chemical (KRX:011170) is considering various strategic measures, including a possible sale of LC Titan's Malaysian production plant, according to a Thursday Korean bourse filing.The company has not taken any decision to date and will provide an update within six months, or once there are any material developments.

KRX:011170

Equities34d ago

TotalEnergies Faces Lawsuit from Environmental Groups Over Nigeria Sale

TotalEnergies (TTE.PA, TTE.L) is facing a lawsuit from environmental groups including Friends of the Earth France, according to a Wednesday release.The nonprofits are seeking environmental documents related to an onshore oil asset in Nigeria that is being sold by the oil and gas company. TotalEnergies EP Nigeria agreed to sell its stake in the Renaissance joint venture to Nigerian consortium Vaaris in January.The suing organizations are seeking to use the documents to verify whether TotalEnergies carried out its duty of vigilance related to the asset. French law requires TotalEnergies to show that the proposed sale does not result in the violation of the human rights of people living near the oil and gas extraction sites, according to the release.TotalEnergies did not immediately respond to' request for comment.

$TTE.L$TTE.PA

Asia34d ago

Market Chatter: South Korea's Exchange Chief Outlines Transparency Plans

South Korea Exchange Chairman Chung Eun-bo said the bourse is looking to implement measures to restrict the market to promote fairness and transparency, Yonhap News reported Wednesday.The operator is looking to revamp its existing measures to strengthen transparency, the report added.Meanwhile, there are also plans to divide KOSDAQ into two markets, based on industry heavyweights and promising players, the report noted.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^KOSDAQKOSPI

Asia34d ago

Starpharma Holdings Reports 'Encouraging' Preclinical Anti-Tumor Activity for Radiotherapy Candidate

Starpharma Holdings (ASX:SPL) said its DEP HER2-targeted radiotherapy candidate showed "encouraging anti-tumor activity" in support of a planned first-in-human phase one clinical study in the second half of the year, according to a Thursday filing with the Australian bourse.In preclinical HER2-positive cancer models, the radiotherapy candidate demonstrated "strong" tumor uptake and retention, low kidney accumulation, and short blood circulation time, the company said.The candidate also showed a statistically significant survival benefit, with the effects comparable to the already approved Enhertu cancer drug in those models, per the filing.Phase one preparations are well advanced, and feedback from drug regulators supports the proposed development pathway, Starpharma said.The company's shares gained 1% in recent Thursday trade.

ASX:SPL

Asia34d ago

Update: South Korean Automakers to Recall Vehicles to Fix Defects

Six automakers have decided to recall more than 146,000 vehicles in South Korea to fix defective components, according to the Korean transport ministry on Thursday.Hyundai Motor (KRX:005380), BYD's (HKG:1211, SHE:002594) Korean arm, Mercedes-Benz Korea, and three other automakers will be recalling 146,505 vehicles across 38 models.

HKG:1211KRX:005380SHE:002594

Asia34d ago

Guangdong Dtech Technology's Vacuum Coating Subsidiary Completes Business Registration

Guangdong Dtech Technology (SHE:301377) subsidiary Guangdong Dingtai Vacuum Coating Technology completed official business registration on Tuesday, according to a Thursday disclosure to the Shenzhen bourse.Dtech holds 97.5% of the vacuum coating subsidiary, while Xu Wei holds the remaining 2.5% stake.

SHE:301377

Asia34d ago

Decidr AI Industries Accepted Into Amazon Web Services' Software Vendor Program

Decidr AI Industries (ASX:DAI) gained entry into Amazon Web Services' independent software vendor accelerate program, which links vendors with the AWS sales organization to support customer engagement, according to a Thursday filing with the Australian bourse.The acceptance into the program will help Decidr AI scale its AI operating system by increasing access to AWS sales channels and associated procurement pathways, the company said.Decidr AI added that it is not currently possible to estimate the immediate financial impact of its entry into the program.The company's share rose past 1% in recent Thursday trade.

ASX:DAI

Asia34d ago

Market Chatter: SK Hynix Outlines Plan for KRW100 Trillion Investment in Fabrication Plant

SK Hynix (KRX:000660) is looking to invest around 100 trillion won in Cheongju to build an M17 NAND flash fabrication plant and a P&T7 advanced packaging facility, according to a report by ChosunBiz on Thursday.The plans also include a 1GW AI data center, linking memory production with AI computing infrastructure, the report said.The project is slated to begin in 2027 with operations targeted for the first half of 2029, according to the report.The investment is part of the company's strategy to transform Cheongju into a semiconductor hub, according to the company's CEO, Kwak Noh-jung, as cited in the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

KRX:000660

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