The top private placement deals in Singapore over the last 30 days

Photo: Nicolas Lannuzel/CC BY-SA 2.0

Over the last 30 days, Singapore saw some of the largest deals in the recent decade. Garena Interactive Holding Limited closes a US$550 million funding from a group of investors, some of them clearly world class brand names. Hillhouse Capital Management, of the world’s most renown private equity managers have also backed up Garena. It is not coincidental that Garena is rumoured to be on path to a glorious IPO in the U.S..

Date Target Status US$ million Investors
May-17 Garena Interactive Holding Limited Closed 550 Farallon Capital Management, L.L.C.; JG Summit Holdings, Inc. (PSE:JGS); Cathay Financial Holding Co., Ltd. (TSEC:2882); Hillhouse Capital Management, Ltd.; PT Global Digital Prima; Uni-President Enterprises Corporation, Asset Management Arm
Apr-17 Lite-On Mobile Pte. Ltd. Closed 226 Lite-On Technology Corporation (TSEC:2301)
May-17 Sunseap Leasing Pte Ltd Announced 75 ISOTeam Ltd. (Catalist:5WF)
May-17 SingTel ICT Pte. Ltd. Closed 51 Singapore Telecommunications Limited (SGX:Z74)
May-17 Singtel Enterprise Security Pte. Ltd. Closed 51 SingTel ICT Pte. Ltd.
Apr-17 Singapore Life Pte. Ltd. Announced 50 IPGL Limited; Impact Capital Holdings Limited
Apr-17 Addvalue Technologies Ltd (SGX:A31) Announced 5
Apr-17 Zen eServices Pte.Ltd. Closed 4 SBI Investment Korea Co., Ltd. (KOSDAQ:A019550); Asia Pacific Internet Group; Red Badge Management LLC
May-17 Epicentre Pte. Ltd. Closed 4 Epicentre Holdings Limited (Catalist:5MQ)
Apr-17 Favstay PTE. Ltd. Closed 3 Dusit Thani Public Company Limited (SET:DTC); 500 Startups

Source: MergerMarket

Non–technology firm Sunseap Leasing commands pre-money valuation of US$143 million

Apart from internal deals such as Lite-On Mobile Pte. Ltd, there were also other non-technology deals such as Sunseap Leasing Pte Ltd. Sunseap Leasing Pte Ltd announced that it will receive US$4.8 million in its series C round of funding led by new investor ISOTeam Ltd. on May 2, 2017. The company will issue preference shares in the transaction. The company raised funding at a post money valuation of US$143 million after the first tranche completion.

Sunseap Leasing Pte Ltd operates as a solar leasing company in Singapore. It develops, designs, and operates grid connected photovoltaics (PV) power plants. Its partners include ABB, Anderco, Panasonic, Power Automation, and LanTroVision. The company was incorporated in 2011 and is based in Singapore.

Little known Singapore Life Pte Ltd is the first transaction for Credit China Fintech Holdings after they established the ASEAN HQ in Singapore

Singapore Life Pte. Ltd. also announced that it has entered into a subscription and shareholders’ agreement for private placement of common shares for gross proceeds of US$50 million on April 26, 2017. The series A round of funding will include participation from IPGL Limited and Impact Capital Holdings, a subsidiary of Credit China FinTech Holdings Limited. Impact Capital Holdings Limited will hold 33.8% stake in the company. The transaction is conditional upon approval from the Monetary Authority of Singapore.

There is little known about the firm Singapore Life Pte. Ltd, but it is one of the first investments conducted by Credit China FinTech Holdings Limited through its investment arm Impact Capital Holdings.

Private equity action in Singapore has not slowed down. We will continue to see exciting actions in the private placement market as we expect more technology deals to flourish. In 2017, we expect more transactions from Grab given their recent high profile funding. We also expect some global IPOs coming from the island state Singapore.