Asia-Pacific’s financial services industry saw a drop of 11.11% in deal activity during October 2021, when compared with the last 12-month average, led by IBF Financial Holdings’ $1.2bn acquisition of EnTie Commercial Bank, according to GlobalData’s deals database.
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A total of 56 financial services industry deals worth $3.5bn were announced for the region in October 2021, against the 12-month average of 63 deals.
Of all the deal types, M&A saw most activity in October 2021 with 27 transactions, representing a 48.2% share for the region.
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By GlobalDataIn second place was venture financing with 27 deals, followed by private equity deals with two transactions, respectively capturing a 48.2% and 3.6% share of the overall deal activity for the month.
In terms of value of deals, M&A was the leading category in Asia-Pacific’s financial services industry with $2.24bn, while venture financing and private equity deals totalled $1.12bn and $159.72m, respectively.
Asia-Pacific financial services industry deals in October 2021: Top deals
The top five financial services deals accounted for 72.6% of the overall value during October 2021.
The combined value of the top five financial services deals stood at $2.56bn, against the overall value of $3.5bn recorded for the month.
The top five financial services industry deals of October 2021 tracked by GlobalData were:
1) IBF Financial Holdings $1.2bn acquisition deal with EnTie Commercial Bank
2) The $559.07m acquisition of 60% stake in Shanghai Huayu Urban Investment & Development by Shanghai Xuhui Capital Investment
3) Guotai Junan Securities $280.97m acquisition deal for 15% stake in HuaAn Funds Management
4) The $260m venture financing of Bitcipher Labs by Andreessen Horowitz,Coinbase Ventures,Paradigm Ventures,Ribbit Capital,Sequoia Capital India AdvisorsLtd. and Tiger Global Management
5) CPP Investments,General Atlantic Service Company,Intact Ventures,Lightspeed Venture Partners – US,Multiples Private Equity Fund and Munich Re Ventures $255m venture financing deal with Acko General Insurance
