Interesting reads this week! #1
Singapore's latest moves to save SGX, Tabby doubles valuation to $3.3b, Huda Beauty breaks up with KAYALI
Singapore announced a comprehensive set of measures to strengthen its equities market on Friday (21 Feb). The bits worth noting: i) $3.7b (S$5b) to get fund managers to invest in Singapore-listed stocks; ii) Tax exemptions for fund managers who earn qualifying income from Singapore equities; iii) Upcoming fund managers under the Global Investor Programme (GIP) must allocate a portion of funds into Singapore-listed companies.
I happened to chat exactly about the SGX’s conundrum (!!) on The Upside Podcast a few weeks ago. Don’t miss this episode with Altara Ventures’s general partner, Gavin Teo.
Huda Beauty sells stake in luxury fragrance brand KAYALI to General Atlantic. KAYALI was formed by sisters Huda and Mona Kattan in 2018. The deal will see the two brands operate independently. It also allows Huda Beauty to regain full founder ownership, redeeming its interest held by TSG Consumer since 2017. Deal size undisclosed. The Dubai-based beauty moguls announced their separation on Instagram on Feb 17.
Other reads:
Grab shares dive after outlook miss highlights internet downturn (Bloomberg)
GCash’s record IPO could reshape startup exits in the Philippines (DealStreetAsia)
Tabby doubles valuation to $3.3b in $160m funding as it looks beyond BNPL and plans IPO (TechCrunch)
Why Abu Dhabi’s ADQ is taking a complex, billion-dollar bet on Aramex (The Morning Context)
MercadoLibre shares rally after record quarter of profit (Bloomberg)
Microsoft claims quantum breakthrough after 20-year pursuit of elusive particle (The Financial Times)
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