Business and technology quick bites

Updated version as at 8.50 am

The highlighted words in red are links to the news article.

March 11, 2021,

Business News 

1. The Ant Group-backed mobility firm is working with China International Capital Corp., Credit Suisse Group, and Morgan Stanley for the listing, and it yet to decide the size and valuation of the IPO.
2. Malaysia Debt Ventures Berhad (MDV) and Kenanga Investment Bank announced the establishment of a Fintech Fund, with a target fund size of RM 300 million to support the growth of fintech and further develop the venture capital industry in Malaysia.
3. GameStop ended 7.3% higher on Wednesday after wild gyrations in the resurgent rally that has vaulted shares of the video game retailer and other so-called meme stocks closer to the peaks of late January.
4. Hartalega Holdings Bhd is buying 250 acres of land in Kubang Pasu, Kedah from Northern Gateway Free Zone Sdn Bhd (NGFZ) to build new factories to expand its glove manufacturing operations.
5. Grab Holdings Inc is exploring going public in the US through a merger with a blank-cheque company as the South-East Asian ride-hailing and delivery giant seeks to expedite its listing process, according to people familiar with the matter.

Technology News 

1. Bumble Inc. stock rose nearly 5% in the extended session Wednesday after the dating-app operator’s first quarterly report as a public company showed narrower losses and bigger revenues than analysts expected.
2. BuzzFeed Inc., the digital-media outlet founded in 2006, is in talks to go public through a merger with 890 5th Avenue Partners Inc., a special purpose acquisition company, according to people with knowledge of the matter.
3. Genetica, a US-based medtech startup that mainly provides its services in South Asia, said it has raised US$2.5 million in its pre-series A raise, which it claim spanned only 30 days.
4. As many as 60,000 computer systems in Germany were exposed to a flaw that allows unauthorised users to access systems in Microsoft Corp’s email software.
5. Shares of US gaming company Roblox Corp jumped 43% in its New York Stock Exchange trading debut on Wednesday, valuing the company at around US$42 billion.