Company Briefs: Mirxes Evergrande Isetan
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Mirxes
Mirxes, a Singapore-based biotechnology start-up, is weighing an initial public offering (IPO) in the city-state next year that could raise about US$300 million (S$415.5 million), according to people with knowledge of the matter.
The company is in discussions with bankers about a potential offering that could value it at over US$1 billion, said the people, who asked not to be identified as the process is private.
Deliberations are ongoing and Mirxes could decide not to proceed with the offering.
Evergrande
A winding-up petition has been filed against embattled property developer China Evergrande Group at the Hong Kong high court, the judiciary's website showed.
The petition was made by Top Shine Global Limited of Intershore Consult (Samoa) Limited, according to the website, and a hearing will be held on Aug 31.
Evergrande did not immediately respond to a request for a comment on the petition.
The firm is expected to announce a preliminary restructuring plan by the end of next month.
REUTERS
Isetan
Chengdu Isetan Company Limited, a China-based associate of mainboard-listed Isetan, will cease operations of its two stores by the end of this year, the company said in a bourse filing yesterday.
Reasons for the closure include Chengdu Isetan being unable to renew the lease of its main store, as well as the pandemic and stiff competition in the China market. After the stores are closed, Chengdu Isetan will commence proceedings on its dissolution and voluntary liquidation from next year.
THE BUSINESS TIMES
