Daily Updates: Webull Acquires PI Securities, OTP Bank EMTN Debut, Qashier & Raytech Funding, MINISO Buyback, Uxin Deal, X Square Robot Valuation

WEBULL TO ACQUIRE THAILAND-BASED PI SECURITIES AT A VALUATION OF $100 MILLION

Webull Securities Thailand, a subsidiary of Webull Corporation, the owner of the Webull trading platform, Tuesday said it is acquiring Thailand-based Pi Securities, an investment services provider,  at a valuation of $100 million. 

The acquisition will be carried out through a share purchase agreement signed between Webull Thailand‘s direct parent company and Country Group Holdings Public Company, the controlling shareholder of Pi Securities, under which Webull will purchase all of the shares held by CGH at a price that values Pi Securities at approximately US$100 million. 

This acquisition reflects Webull’s commitment to enhancing the digital investment experience for Thailand’s new generation of investors as well as its commitment to scaling its footprint across the broader Southeast Asian financial ecosystem. 

It also demonstrates Webull’s confidence in the potential of Thailand’s financial and capital markets, as well as the value of Pi Securities, including its customer base, expertise in the Thai capital markets, investment product capabilities, and long-standing experience in serving Thai investors.

By merging Pi Securities’ deep understanding of Thailand’s capital markets with Webull’s digital investing platform, Webull expects to expand its offering of investment products and build a comprehensive ecosystem to meet the needs of Thailand’s investors.

“We remain committed to prioritizing the care of clients and investment consultants across both Webull and Pi Securities. We are also fully dedicated to upholding and enhancing service standards throughout this transition,” said Chonladet Khemarattana, Chief Executive Officer of Webull Thailand. 

“This investment will enable us to integrate Webull’s strengths in technology, infrastructure, and platform development capabilities with Pi Securities’ expertise in Thailand’s capital markets, its investment product offerings, and its client service experience. Together, this will enhance our competitive capabilities and support sustainable long-term growth.”

OTP Bank

EU’S OTP BANK DEBUTS EUR 7 BILLION EMTN PROGRAMME ON THE HONG KONG STOCK EXCHANGE

OTP Bank, a Central and Eastern Europe banking group, Tuesday said it  marked the establishment of its EUR 7 billion Euro Medium Term Note (debt) raising programme on the Stock Exchange of Hong Kong.

OTP is the first European Union financial institution to open an EMTN programme on the exchange.

The EUR 7 billion programme was established on the Hong Kong Stock Exchange on 28 May 2026 allowing the issuer to raise debt in multiple tranches, currencies, structures and maturities over time. 

For OTP, this establishes a permanent platform for trading with certain OTP bonds, and later for raising capital from Asian institutional investors.

The listing builds on OTP’s growing presence in Asian capital markets. In 2025 OTP issued its first Dim Sum green bond, raising CNH 900 million and becoming the first Hungarian institution to issue a public offshore renminbi green bond, following a CNY 300 million bond in 2024. 

The Bank has operated a representative office in Beijing since 2017, became a full member of the Asian Financial Cooperation Association (AFCA) in 2024, and maintains a strategic partnership with the Industrial and Commercial Bank of China (ICBC).

Sándor Pataki, Director of Investor Relations and Capital Markets Operations of OTP Bank, said: “Listing our EMTN programme in Hong Kong is a clear demonstration of OTP Bank’s long-term vision and strategic commitment to international capital markets. Hong Kong excels itself as one of the world’s leading international financial centres, serving as a vital bridge between East and West. For OTP Bank, this is not only an opportunity to access liquidity, but also to deepen relationships and build lasting trust with investors in this dynamic region. The demand we have seen for OTP’s credit, including the record order book for our inaugural issue off the programme, reflects the growing interest in high-quality European issuers.”

As Asian investors increasingly look to Europe to diversify their portfolios, Central and Eastern Europe offers a distinctive proposition: emerging-market growth rates combined with the low-risk profile of the European Union. 

OTP Group pairs an annual organic loan growth of around 15% with a disciplined acquisition record and high profitability – a 2025 return on equity of 21.6% – and with an ultraconservative balance sheet. In 2023, OTP became the first European bank to enter Uzbekistan, bringing the total population across OTP’s markets to 110 million.

Sándor Pataki, added: ” Looking ahead, we see significant opportunities to deepen our engagement with Asian investors and institutions. We are confident that this listing will serve as a cornerstone for long-term cooperation, mutual growth, and shared success.”

RAYTECH HOLDING RAISES $6.2 MILLION

Raytech Holding, a British Virgin Islands holding company headquartered in Hong Kong specializing in design, sourcing and wholesale of personal care electrical appliances for international brand owners, Tuesday said it has raised $6.2 million through a registered direct offering of over  3 million ordinary shares at a public offering price of $1.97 per ordinary share on June 29, 2026.

Gross proceeds, before deducting placement agent fees and other offering expenses, were approximately $6.2 million. The Company intends to use the net proceeds from the Offering for general corporate and working capital purposes, supporting its strategic expansion into the personal health care electronics product category, and integration costs and post-closing working capital requirements relating to the acquisition of Worry free Group Hong Kong.

CBC Securities Inc. acted as exclusive placement agent in connection with the Offering. Loeb & Loeb LLP acted as counsel to the Company regarding U.S. securities law matters.

QASHIER RAISES US$6.125 MILLION TO ACCELERATE REGIONAL EXPANSION

Singapore-based Qashier, a unified merchant operating system for Southeast Asia, Tuesday said it has raised US$6.125 million Series A+ financing round comprising equity and debt. 

The round was led by Cocoon Capital, IFP Securities and BlackSoil Global, with participation from strategic angel investors. The capital will support regional expansion and product development.

“The raise follows a year of disciplined operating progress. Qashier now processes US$1 billion in annualised payment volume for more than 20,000 merchants across Singapore, Malaysia, Thailand and the Philippines, and has been profitable every month since December 2025. Over the year it grew annualised recurring revenue 61% and secured its Major Payment Institution licence in Singapore in February 2025. The company has reached these milestones having raised under US$20 million to date, a level of capital efficiency rare among payments businesses at its scale,” the company said. 

Southeast Asia is home to more than 70 million SMEs and a digital payments market exceeding US$1 trillion, yet most merchants still run their businesses on disconnected systems — separate providers for point-of-sale, payment acceptance, inventory, customer engagement and financing. That fragmentation adds cost, creates blind spots, and holds back businesses trying to grow across outlets and borders.

Qashier brings these functions onto a single platform, combining payments, business software, CRM and embedded financial services across more than 50 integrated modules — spanning ordering, inventory management, loyalty and automated marketing — and over 20 regional payment methods, including cards, QR, e-wallets and buy-now-pay-later. 

That data advantage is most visible in QashierLoans, the company’s revenue-based lending product launched in June 2025. Underwritten entirely on proprietary platform data and repaid automatically from each merchant’s daily sales, QashierLoans has disbursed more than US$10 million to over 100 SMEs since launch — extending Qashier’s role from commerce software provider to financial operating partner, and turning every transaction on the platform into a sharper credit signal.

“We are building the operating system for Southeast Asia’s SME economy — and we are building it profitably,” said Christopher Choo, Co-Founder and CEO of Qashier. 

“Merchants should not have to stitch together five vendors to run one business. By bringing payments, software, financial services and customer engagement into a single ecosystem, we give them clarity, lower costs and the confidence to scale across markets. This round lets us leverage that advantage into the next phase of growth.”

Cocoon Capital has backed Qashier since its early days. “We have been proud to support Qashier since its beginning, and this latest round is a testament to what the team has built,” said Michael Blakey of Cocoon Capital. “What continues to impress us is their ability to navigate every obstacle placed in their path with resilience and ingenuity. Qashier’s cofounders, Christopher Choo and Franklin Zhao, have an exceptionally clear and compelling vision for what Qashier is becoming, ‘the default operating infrastructure for commerce across Southeast Asia,’ and we remain firmly committed to supporting that journey.”

With the new funding, Qashier will focus on enhanced omnichannel payments, broader embedded financial services, and AI-enabled insights and workflow automation. It will also expand its offering for larger, multi-outlet businesses, particularly in food and beverage and beauty and wellness, where merchants require sophisticated workflows, consolidated reporting and a consistent customer experience across locations and markets. Qashier is preparing for a Series B round to fund its next phase of growth, with milestones expected in recurring revenue, payment licensing and loan disbursements.

MINISO

MINISO ANNOUNCES HK$2 BILLION SHARE REPURCHASE PROGRAM

MINISO Group Holding, a global value retailer offering a variety of lifestyle products featuring distinctive IP designs, Monday said its board of directors authorized and approved a new share repurchase program, under which the Company may repurchase up to HKD2 billion in value of its outstanding ordinary shares and/or American depositary shares (the “ADSs”) from the open market over a 12-month period starting from June 30, 2026. 

The Company expects to fund the repurchases under the 2026 Share Repurchase Program from surplus cash on its balance sheet.

“The Board has full confidence in the Company’s business outlook and prospects, and believes that the current share price of the Company has been below its intrinsic value,” the company said.

The Company’s proposed repurchases under the 2026 Share Repurchase Program may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades, and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.

The Board believes that the current financial resources of the Company would enable it to implement the share repurchases without causing any material impact on its working capital.

CHINA’S UXIN CLOSES US$15 MILLION INVESTMENT FROM NIO CAPITAL

Uxin Limited, an used car retailer in China, Monday said that it has completed the fund raise of $15 million from NIO Capital. 

Uxin said it completed the subscription for, and issuance of, Class A ordinary shares of the Company for an aggregate purchase price of US$15 million, at a purchase price of US$0.00953 per Class A ordinary share. 

Under the Share Subscription Agreements, affiliates of NIO Capital agreed to invest US$20 million and Prestige Shine Group Limited agreed to invest US$30 million in the Company, for an aggregate consideration of US$50 million at a purchase price..

The Company and the Investors are actively working toward closing the remaining committed investment under the Share Subscription Agreements, subject to the satisfaction of customary closing conditions. 

X SQUARE ROBOT HITS $2.8 BILLION VALUATION

China-based X Square Robot, an embodied AI company developing general-purpose embodied intelligence robots and foundation models for real-world environments, Monday said it has closed four consecutive financing rounds culminating in a Series C, bringing its valuation to over US$2.8 billion (RMB 20 billion) and positioning the company among China’s highest-valued embodied AI startups.

The financing brings together a diverse group of strategic and financial investors, including leading technology companies, industrial partners and venture capital firms. 

IDG participated in the Series C round, while HongShan and Xiaomi have backed the company in multiple previous rounds. Combined with earlier lead investments from Meituan, Alibaba, ByteDance and Xiaomi, X Square Robot has become the only embodied AI company in China to secure lead-round backing at different stages from four of the country’s leading technology companies.

“Since day one, X Square Robot has focused on in-house development of foundation models, pursuing a challenging but necessary path,” said Wang Qian, founder and CEO of X Square Robot. “Today, our investments in embodied AI models, scalable, model-driven high-quality data pipeline system and real-world deployment are beginning to deliver clear results.”

The company said it will use the funding to further invest in core technologies and foundational research in embodied intelligence, advancing toward general-purpose embodied AI that bridges the physical world and ultimately serves humanity.

Founded in 2023, X Square Robot develops end-to-end embodied AI systems that combine foundation models, robotics hardware and proprietary data pipeline system. Rather than relying on traditional rule-based automation, the company’s approach enables robots to adapt to changing environments and generalize across a wide range of tasks.

“As AI moves beyond digital experiences into the physical world, progress will depend on close integration between models, data and robotics,” Wang said. “We’re building that foundation so embodied AI can become part of everyday life.”