65 Equity Partners buys stake in Tuya for $134m, aims to list IOT specialist on SGX

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The Straits Times 5h ago

65 Equity Partners buys stake in Tuya for $134m, aims to list IOT specialist on SGX - The Straits Times

Quick Summary:

This would generate institutional and retail interest in a potential listing.“Very often, secondary listings remain illiquid and unnoticed,” Mr Tan said.“Our mission is to come up with solutions to boost liquidity so that these companies gain a following and attract coverage.

The deal will see the Singapore fund becoming a 13 per cent owner in Tuya via an investment of US$100 million ($134 million).

Tuya is the second company, after Nasdaq-listed AvePoint, in which the Singapore fund has invested with the objective of a secondary listing on the Singapore Exchange.