The company has set its price range at $7.64 to $9.17 and is aiming to raise a total of $1.5bn from five cornerstone investors, including the previously disclosed $400m from Tencent.

Grab Ventures will invest in mobility, food, logistics, fintech startups and set up an accelerator, Grab Ventures Velocity, with applications closing on 10 September.

Soracom and Engie have committed capital to a $10m series A round for UnaBiz, which operates a low-power wide-area network in Singapore and Taiwan.

Siam Commercial Bank and Clal Insurance have put their weight behind Pagaya, a fintech company that uses artificial intelligence to offer asset management.

Yue Xiu Enterprises has taken part in a $44m series C round for Makeblock, the Evolution Media China-backed robotic toy manufacturer.

Tapzo has been acquired by Amazon Pay India for a reported $30m to $40m, providing an exit to investors including American Express.

CHJ Automotive-backed Yihang.ai has collected $32m in series B funding led by CICC Jiacheng Investment as it moves towards the launch of its first production model next year.

Qiming Capital and Hillhouse Capital have co-led a series C round for Eli Lilly-backed Jacobio Pharmaceuticals, which has now launched a corporate venturing arm.

Xiaomi owns nearly a fifth of Viomi Technology, a smart home appliances producer that is seeking a flotation in the US four years after being incorporated.