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China’s Viomi Technology Raises $102.6 million on its Debut on Nasdaq

26Sep By Gauri SinghNo Comments

Market

China’s Viomi Technology Raises $102.6 million on its Debut on Nasdaq

China-based IoT home platform company Viomi Technology has debuted on the Nasdaq stock exchange trading under the ticker symbol of "VIOT”. The company has raised about $102.6 million on its debut in IPO. It priced its initial public offering (IPO) of 11.4 million American Depositary Shares (ADSs) at $9.00 per ADS. Each ADS represents three of the company's Class A ordinary shares. The underwriters for the Xiaomi-backed company’s IPO include Morgan Stanley and China International Capital Corporation Hong Kong Securities. "By listing on the Nasdaq, Viomi hopes to better focus on the development of home appliance technology and further expand brand awareness, as Nasdaq is known as a tech-heavy stock exchange," Xiaoping Chen, co-founder and chief executive officer of Viomi said. The compa...

Chinese E-Scooter Startup Filed For an IPO on Nasdaq

25Sep By PriyankaNo Comments

Market

Chinese E-Scooter Startup Filed For an IPO on Nasdaq

Electric scooter startup called Niu Technologies which is based in China has filed for an initial public offering (IPO) on Nasdaq. The company has planned to raise up to $150 million through this IPO. Niu claims to be the largest lithium-ion battery-powered e-scooters company in China. Founded in 2014, the company is based in Beijing and currently holds a market share of 26% in China on the basis of its sales volume. Niu’s scooters connect with an app that gives drivers maintenance and performance data and along with that delivers firmware updates. The firm stated that it had sold more than 431,500 smart electric scooters in China, Europe and other markets as of June 2018. According to the reports, China has been termed as the largest market for electric two-wheeled vehicles, wher...

22Sep By Gauri SinghNo Comments

Market

All You Need to Know About US-based Eventbrite’s Much-awaited IPO

San-Francisco based online ticketing platform Eventbrite (EB) has finally launched its much-awaited IPO. The shares of the company soared as high as 70 percent in its stock market. The shares opened at $36 and climbed as high as $39.30 before ending the session 59 percent up at $36.50. Eventbrite’s stock has been listed on the New York Stock Exchange (NYSE) under the ticker EB. The firm at the initial stage priced its offering from $19 to $21 per share, but due to its high demand, it raised the final offering price to $23 per share. With this price, the company was successful in raising funds amounting to $230 million. Founded in 2006 by married couple Julia and Kevin Hartz, Eventbrite has raised a total of $373 million in equity funding as of now. The entry of Eventbrite in the stoc...

More than Half of the Indian Companies Listed on IPO in 2018 Trading Below Issue Price

21Sep By Gauri SinghNo Comments

Market

More than Half of the Indian Companies Listed on IPO in 2018 Trading Below Issue Price

As many as 21 companies went public this year and shares of more than half of all these companies are trading below their issue price. The main reason behind this has been the market volatility, aggressive pricing and sometimes stock and sector-specific issues. Out of 21 initial public offers (IPOs) in 2018, shares of 11 companies now trade below their issue price. “As the market went up, so did the expectation and pricing of the IPOs. Pricing issue was in sync with market sentiment,” said Arun Kejriwal, director of Kejriwal Research and Investment Services Pvt. Ltd. The companies that can be listed as the top losers in the pack are Apollo Micro Systems Ltd and ICICI Securities Ltd. These companies were down by 50% and 39% respectively from their issue price. Apollo Micro Systems ...

Cipla’s Ugandan Unit Raised $43.8 million from IPO

18Sep By Gauri SinghNo Comments

Market

Cipla’s Ugandan Unit Raised $43.8 million from IPO

India's pharmaceutical giant Cipla has been one of the most popular companies in its sector. The Ugandan unit of the pharmaceutical giant has reportedly raised $43.8 million (167 billion Ugandan shillings) from its oversubscribed initial public offering (IPO). Talking further about the IPO, Cipla Quality Chemical Industries Ltd (CQCIL) which is majority owned and operated by India's third-largest drugmaker sold 657 million shares equivalent to 18 percent of the firm's total equity. Every share in the IPO was priced at 256.5 shillings. "The offering has been oversubscribed with the major part of the demand coming from blue-chip Sub-Saharan Africa investors," John Porter, chief business officer at investment bank Renaissance Capital stated. Cipla is an Indian multinational pharmaceutica...

17Sep By PriyankaNo Comments

Market

India Based Online Marketplace Indiamart Gets Permission to Launch IPO

Online marketplace IndiaMART InterMESH Ltd have received markets regulator Sebi's go-ahead to float initial share sale offers. With this, the number of companies getting Sebi's approval to float an initial public offer (IPO) has reached 50 this year so far. Indiamart which had filed draft their respective draft offer documents with Sebi in June, obtained the regulator's "observations" on September 14, according to the latest update with the markets watchdog. Sebi's observations are necessary for any company to launch IPO, follow-on public offer and rights issue. Through IndiaMART's public issue, a total of 42,88,801 equity shares will be divested by the promoters and private equity firms Intel Capital (Mauritius) Ltd, Amadeus Capital Partners and Accion Frontier Inclusion Mauri...

China’s Meituan Dianping Raises $4.2 billion in Hong Kong IPO

14Sep By Gauri SinghNo Comments

Market

China’s Meituan Dianping Raises $4.2 billion in Hong Kong IPO

Meituan Dianping, Chinese online food delivery-to-ticketing services company has reportedly raised $4.2 billion in the world's largest internet-focused IPO in four years. Tencent Holdings-backed Chinese firm sold about 480 million primary shares at HK$69 ($8.79) each in the Hong Kong IPO. This IPO valued the company at around $52.8 billion. "Since the stock priced at the upper end of the range, it suggests institutions are holding a more positive view on the company and on this type of new economy IPOs," said Steven Leung, sales director at brokerage UOB Kay Hian. The funds collected by the company will help them to fortify itself against tough competition from its main competitor, food-delivery platform Alibaba-backed Ele.me. Both of these platforms, in a tough battle for market shar...

Tesla Rival NIO Raises $1 Billion in US IPO to Accelerate Growth

13Sep By Gauri SinghNo Comments

Market

Tesla Rival NIO Raises $1 Billion in US IPO to Accelerate Growth

One of the largest electric vehicle startup NIO which is also a rival of Tesla has reportedly has made its market debut on the US stock market with a $1 billion IPO (initial public offering). The company’s basic motive behind this move is to boost up the production of its electric vehicles as well as and expand their EV infrastructure. With this IPO, the company has become the first Chinese-backed electric vehicle startup to go public in the US. The startup was backed by Chinese internet giant Tencent Holdings Ltd. Last year, NIO raised up to $600 million in its latest financing round led by Baidu. “We had actually a healthy book and then some orders got pulled or reduced because of market conditions,” NIO’s chief financial officer, Louis Hsieh, said. It was last month that an ann...

Meituan-Dianping Aims to Raise $4.4 billion from IPO

5Sep By Gauri SinghNo Comments

Market

Meituan-Dianping Aims to Raise $4.4 billion from IPO

China’s food delivery and restaurant review major Meituan-Dianping said it aims to raise up to $4.4 billion (roughly Rs. 31,400 crores) for its initial public offering (IPO) in Hong Kong. Instead of a not-so-effective response to other recent IPOs in the city, the company is planning to go public. With the IPO, Meituan will offer 480.27 million new shares at a range of HK$60 ($7.64) to HK$72 apiece. The company stated that they are making losses and also said that it could not guarantee profitability in future despite of having hundreds of millions of users on its platform. Talking about the company, Meituan.com was founded in 2010 by CEO Wang Xing and was merged with comment-rating platform Dianping Holdings in 2015. The company has been backed by internet giant Tencent and provi...

China’s Maoyan Weiying to File an IPO on the Hong Kong Stock Exchange

4Sep By Gauri SinghNo Comments

Market

China’s Maoyan Weiying to File an IPO on the Hong Kong Stock Exchange

China’s largest online movie ticketing service Maoyan Weiying reportedly filed for an initial public offering (IPO) on the Hong Kong stock exchange. The Tencent-backed company, however, has yet not disclosed that when the IPO will be or other valuation details. But, according to the earlier reports of this year, Maoyan aims to raise up to $1 billion. This move has come soon after another Tencent investment, Meituan-Dianping, is preparing for its own debut (Meituan is also one of Maoyan’s investors). Both Meituan and Maoyan are an important part of Tencent’s online-to-offline services rivalry with Alibaba. Meituan holds the number one market share for online services in China in terms of market volume. Similarly, Maoyan is the largest online movie ticketing app service in China. It...

31Aug By Gauri SinghNo Comments

Market

Top 5 Performing Shares in 2018 Stock Market

In the past few months, we have been witnessing various companies that went public and entered the stock market. What actually is a stock? Well, the capital raised by a company or corporation through the issue and subscription of shares is known as stock. When a company lists itself on the stock market, it can raise funds from the public by the issue of its shares. A stock market is a place where shares of publicly listed companies are traded. The primary market is where companies float shares to the general public in an initial public offering. The people, especially the beginners are generally confused about which stock they should buy. The best strategy to get success in those fields would be to play safe and take the safest route to achieve goals. After a good examination of the ...

Auto Component Maker Craftsman Automation Gets Sebi’s Nod for IPO

28Aug By Gauri SinghNo Comments

Market

Auto Component Maker Craftsman Automation Gets Sebi’s Nod for IPO

Auto component manufacturer Craftsman Automation Pvt Ltd has successfully received capital markets regulator Sebi's approval for the launch of its initial public offerings (IPO). The firm had filed its draft prospectus with SEBI in June. The two PE backers of the company are Standard Chartered Private Equity and International Finance Corporation (IFC), World Bank’s private-sector investment arm. The promoters offloading the stakes include Srinivasan Ravi (2.10 lakh shares), Marina III (Singapore) (over 15.59 lakh), IFC (14.14 lakh ) and K Gomatheswaran (up to 12 lakh). The funds raised by the company through this public offering are expected to be utilized towards the repayment/pre-payment of certain borrowings and for general corporate purposes fully or partly. Craftsman Autom...