Daily Briefing: Online fashion marketplace Zilingo raised $54m in series C round; SGX stock nearly plunged to 52-week low

And Broadcom announced that it has completed the move to US from Singapore.

From DealStreet Asia:

In a bid to expand to international markets, Singapore-based fashion e-commerce company Zilingo has raised $54m in series C funding round led by Belgium’s Sofina, German media giant Hubert Burda’s Burda Principal Investments and Sequoia Capital India.

The funding comes only five months after the company raised $17m in a series B round.

The 2015-founded company has raised a total funding worth $84m in less than three years of existence and claims to be creating an ecosystem for merchants to grow their online fashion business in Southeast Asia and beyond.

Read more here.

From The Motley Fool:

Singapore Exchange’s current stock price of S$7.26 is just 0.8% higher than a 52-week low of S$7.20. This may raise a question among investors: Is the company a bargain now?

Singapore Exchange currently has a PB ratio of 7.98 times, which is significantly higher than the SPDR STI ETF’s PB ratio of 1.23. It’s a similar picture with the PE ratio, since Singapore Exchange’s earnings multiple is twice that of the SPDR STI ETF’s (22.7 vs. 11.4). On the other hand, Singapore Exchange has a higher dividend yield of 3.8%, as compared to the market’s yield of 2.96%. The higher a stock’s yield is, the lower is its valuation.

Putting it all together, we can argue that Singapore Exchange is trading at a premium to the market average, given its higher PB ratio and PE ratio.

Read more here.

From Reuters:

Broadcom Inc said it had completed its move back to the United States from Singapore, weeks after President Donald Trump blocked its $117 billion offer to buy Qualcomm Inc (QCOM.O) on national security grounds.

Broadcom, which was a U.S. company until it was bought in 2016 by Singapore’s Avago, had announced its plan to redomicile on Nov. 2, days before making its first offer for Qualcomm.

Broadcom’s existing co-headquarters in San Jose, California will become its sole headquarters, the company said.

Read more here.

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