In brief: Huobi plots reverse IPO; Pomelo moves into Malaysia

A number from Pomelo’s fall 2017 collection. / Photo credit: Pomelo Fashion

Huobi acquires Hong Kong-listed company (China). The cryptocurrency exchange operator has acquired the majority of shares in Hong Kong contract manufacturer Pantronics. The move could represent a “reverse merger” that would allow Huobi to access the public capital markets without having to file for an IPO itself. However, the Hong Kong Exchange indicated earlier this year that it would tighten regulations to make so-called “backdoor listings” more difficult. (TechNode)

Pomelo Fashion launches dedicated Malaysian site (Thailand/Malaysia). The fashion ecommerce startup is also establishing around 700 pickup and drop-off points throughout the country to meet local demand for cash-on-delivery payment and make returns simpler. Pomelo has been experimenting with offline stores in its native Thailand, and told Tech in Asia that it may expand the format to Singapore and Indonesia in the near future. (Pomelo Fashion)

Other news

VinaCapital launches US$100 million VC fund, announces inaugural investments (Vietnam). VinaCapital Ventures will focus on seeking out investments of between US$2 million and US$10 million in Vietnamese tech startups. For its maiden investments, it participated in logistics platform Logivan’s US$1.75 million series A – announced yesterday – and has also backed local ride-hailing startup FastGo. (VinaCapital)

Video platforms crack down on livestreams from ride-hailing drivers (China). Following the rape and murder of a Didi Chuxing carpool passenger last week, allegations that ride-hailing drivers regularly broadcast videos of their female passengers online without their consent have begun to circulate. Video-streaming app Huya said it is prohibiting such drivers from livestreaming their passengers, while Panda TV said livestreams will only be allowed if they don’t disrupt “normal driving.” (China Money Network)

See: Previous Asia tech news