Bucking the gloom of other tech equities, shares of Indonesian ride-hailing and e-commerce company GoTo rose as much as 23% after it raised $1.1 billion in its domestic stock market debut. Backers include SoftBank and Alibaba who stand to win if the shares surge is sustained. Indonesian companies must list on the domestic stock market, which has been propped up by a surge of new retail money...
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Chinese Investment Giant Hillhouse Capital Seeks to Expand Outside China
Hillhouse Capital Group, the Chinese sprawling investment powerhouse that has drawn comparisons to Tiger Global Management, has a new challenge: growing outside China. The firm is best known for investments in Chinese tech giants such as Tencent, JD.com, Didi Global and TikTok owner ByteDance. But the devastation of China’s private equity and venture capital sectors, caused by...
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