Company briefs: Singtel
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Singtel
Singtel is selling Amobee to Britain's Tremor International for an enterprise valuation of US$239 million (S$332 million), above the US digital media and advertising subsidiary's carrying value of US$160 million.
The transaction, which excludes Amobee's e-mail solutions business, will realise about US$197 million in net proceeds and is expected to be completed by September. Singtel said the divestment is in line with the group's move to sharpen its business focus and recycle assets and capital into growth areas with higher returns.
THE BUSINESS TIMES
Zipmex
Thailand's Securities and Exchange Commission said on Monday that it was working with law enforcement to look into potential losses among the public after crypto exchange Zipmex temporarily suspended withdrawals last week. It said in a statement that it was asking impacted users of Zipmex to submit information via an online forum on how they had been affected by the problems at the platform.
The South-east Asia-focused crypto exchange, which operates in Thailand, Indonesia, Singapore and Australia, suspended withdrawals last Wednesday.
BLOOMBERG
UBS
UBS Group's investment bank disappointed in the second quarter as global deal activity collapsed and the trading business struggled to keep pace with Wall Street peers. Global banking revenues slumped 57 per cent to US$377 million (S$524 million), a bigger drop than the overall global fee pool.
The business of advising companies on deals, which dried up amid recent market volatility, fell by almost a third.
Equity capital markets posted the biggest drop as initial public offerings all but disappeared because of gyrating markets.
BLOOMBERG
