Fullerton Fund Management and Da Cheng International Asset Management have announced a partnership; Daiwa Securities Group has invested in Digital Climate Group; while Vietnam’s VPBankS is planning an IPO.
Fullerton, Da Cheng ink equity investment deal
Singapore’s Fullerton Fund Management and Hong Kong-based Da Cheng International Asset Management have partnered to expand equity investment offerings in each other’s home markets, according to an announcement.
The agreement will see the managers co-sponsor products, including Fullerton’s Global Absolute Alpha equity strategy and Da Cheng’s Gao Xin China equity strategy, while collaborating on development, promotion, and distribution.
The deal builds on Fullerton’s recent launch of the Fullerton Lux Funds—China Equities, which Da Cheng sub-advises.
Fullerton, part of Temasek-backed Seviora, manages assets for sovereign wealth funds, pension plans, insurers, private wealth and retail clients. Da Cheng International ranks among China’s earliest fund houses.
Executives from both firms said the partnership would allow investors in Singapore and Hong Kong to access broader equity opportunities spanning global and Chinese growth markets.
Daiwa Securities invests in Digital Climate Group
Daiwa Securities Group has invested in Digital Climate Group (DCG) and plans a strategic partnership to address the financing gap for impact-driven projects in Asia and the Middle East.
A key focus will be harnessing digital platforms and financial technology to bring forward tokenised assets, programmable investment structures, and digitally native distribution channels that boost transparency, liquidity, and accessibility for investors worldwide.
For DCG, the collaboration brings a trusted partner with decades of capital markets experience and strong institutional networks across Asia. For Daiwa Securities, it strengthens the firm’s innovation pipeline through DCG’s integrated investment-tech platform, digital asset expertise, and expanding presence in high-growth markets.
Daiwa, a Japanese financial services firm, emphasises digital innovation and sustainability, while Hong Kong-based DCG focuses on democratising impact finance across Asia, the Middle East, and Africa.
VPBankS plans IPO to offer up to 25% of shares
VPBank Securities Joint Stock Company (VPBankS) has announced plans to issue up to 375 million shares, equivalent to 25% of its outstanding shares, in an initial public offering (IPO).
The Hanoi-based company aims to list on the Ho Chi Minh Stock Exchange (HoSE) or UPCoM, depending on the offering’s outcome.
Post-IPO, VPBankS’s charter capital will increase from 15,000 billion dong ($568 million) to 18,750 billion dong ($710 million), potentially ranking it third in Vietnam’s securities industry by capital.
The offer price will be set above the book value of 12,130 dong per share, based on the audited 2025 semi-annual financial report. The IPO is scheduled between Q3 2025 and Q2 2026, pending approval from the State Securities Commission.
Proceeds will be allocated with 30% for securities trading and investment and 70% for margin lending and other business activities.
Additionally, VPBankS’s shareholders approved raising the foreign ownership limit to 100% and elected Nguyen Quang Trung as an independent Board member, bringing the total to four.
Previously, VPBank, the parent bank of VPBankS, was one of the few entities to successfully execute two billion-dollar capital-raising deals in Vietnam: selling 49% of the shares of its consumer finance company FE CREDIT to foreign partner SMBC CF and issuing 15% of VPBank’s shares to SMBC.
