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Snap’s Shares Set For Trading Pop After $3.4 Billion IPO

3Mar By reutersNo Comments

BUSINESS

Snap’s Shares Set For Trading Pop After $3.4 Billion IPO

Snap Inc's in-demand shares were set to rally on their first day of trading in New York on Thursday, after the owner of the popular Snapchat messaging app raised USD3.4 billion in its initial public offering (IPO), above its price expectations. Early indications pointed to the shares opening up at between USD22 and USD24, after the IPO priced on Wednesday at USD 17 per share. The IPO book was oversubscribed by more than 10 times, boosting the chances of a pop on the first day of trading. The New York Stock Exchange carried out a trial run last week to make sure the third-biggest technology IPO ever goes smoothly. Facebook Inc's eagerly awaited market debut in 2012 was marred by a technical glitch at rival exchange Nasdaq. After pricing its IPO at USD17 a share, the owner of the po...

19Jan By AnkitaNo Comments

CHINA

China May Allow Foreign Company’s and Startups to Launch IPOs

China may allow foreign companies to launch IPOs on its stock exchanges and issue corporate bonds, the government said, after President Xi Jinping promised the world his country was committed to opening its markets. The State Council, China's Cabinet, issued a notice yesterday saying it had granted approval in principle for foreign companies to launch IPOs and issue corporate debt and other financing instruments in order to "support the widening of foreign companies' financing channels". The announcement was the latest in a series of broad liberalisation pledges from China as it braces for the incoming administration of US President-elect Donald Trump. Trump has repeatedly blamed China, and globalisation, for the loss of millions of US jobs, raising fears of a trade war between the w...

Trivago Announces Pricing of Shares Under IPO

16Dec By PriyankaNo Comments

News

Trivago Announces Pricing of Shares Under IPO

Trivago, a global hotel search platform, today announced the pricing of its initial public offering of 26,110,118 American depositary shares (ADSs) representing Class A shares of its affiliate, travel B.V.* (the Company) at $11.00 per ADS. The Company is selling 18,110,091 ADSs, and certain shareholders of the Company are selling 8,000,027 ADSs in the offering. The Company and the selling shareholders have granted the underwriters the option to purchase up to an additional 3,916,517 ADSs at the initial public offering price less the underwriting discount. The ADSs are expected to begin trading on The NASDAQ Global Select Market under the ticker symbol "TRVG" on December 16, 2016. The offering is expected to close on December 21, 2016, subject to customary closing conditions. Found...

Alibaba’s $60 Billion Finance Arm Seeks Growth Before IPO: Sources

11Oct By reutersNo Comments

CHINA

Alibaba’s $60 Billion Finance Arm Seeks Growth Before IPO: Sources

Investors gearing up for the initial public offering of Ant Financial, the $60 billion online finance arm spun off by e-commerce giant Alibaba, will have to wait until at least late 2017 as the business puts growth first, sources say. Sources with knowledge of the plans said Ant Financial, whose anchor business is Alipay, China's largest online payments service, is focusing on expanding its existing 450 million-strong army of daily users, adding merchants and customers. Ant had yet to contact Chinese regulators to start the lengthy listing process and join a queue of more than 700 companies waiting to list. In addition to online payments, Ant Financial also offers services from wealth management to credit scoring, micro lending and insurance. Alibaba Group set up Alipay in 2004 in th...

Snapchat Parent Working on IPO Valuing Firm at $25 Billion or More: Report

7Oct By reutersNo Comments

News

Snapchat Parent Working on IPO Valuing Firm at $25 Billion or More: Report

Photo-sharing app Snapchat's parent is working on an initial public offering that could value the company at $25 billion or more, the Wall Street Journal reported, citing several people familiar with the matter. Snap, which operates the app that lets users send videos and messages that disappear in seconds, is looking to sell shares as early as late March, the Journal reported. An IPO valued at $25 billion would be significantly higher than Snapchat's most recent valuation of $17.81 billion, based on a $1.81 billion financing round in May. It would also represent the largest IPO by a technology company since Chinese e-commerce giant Alibaba Group went public in 2014. Snapchat had been talking to investment bankers about an IPO towards the end of this year or early in 2017, technology we...

SMEs Raise 185 Crore Through IPOs in FY17

7Sep By AnkitaNo Comments

BUSINESS

SMEs Raise 185 Crore Through IPOs in FY17

Riding on upbeat market sentiment, as many as 23 small and medium enterprises (SMEs) got listed on capital markets with initial public offerings worth Rs 185 crore in the current fiscal. In comparison, 44 SMEs raised a total of Rs 290 crore in the entire last financial year (2015-16). "Indian primary market has witnessed spectacular revival in last few months, which is not limited to large IPOs like Mahanagar Gas or Quess Corp. Public share sales of smaller companies on the dedicated SME boards of stock exchanges, too, have been on a hot streak," Pantomath Group Managing Director Mahavir Lunawat said. A total of 23 firms made debut on the SME platform in 2016-17 so far, while a total of 28 companies filed their draft prospectus in the past fiscal to raise funds through an initial publ...

PepsiCo Franchisee Varun Beverages Gets Sebi Nod For IPO

7Sep By Press Trust of IndiaNo Comments

BUSINESS

PepsiCo Franchisee Varun Beverages Gets Sebi Nod For IPO

Varun Beverages, franchisee for soft drinks maker PepsiCo, has received markets regulator Sebis approval to raise over Rs 1,000 crore through an initial public offering. Besides, leading logistics service and solutions provider, Seaways Shipping & Logistics has also got Sebis nod to float an IPO. Varun Beverages and Seaways Shipping & Logistics had filed their draft red herring prospectuses with the Securities and Exchange Board of India (Sebi) in June and March, respectively. The two firms got the regulator approval on August 31, as per the latest update. The initial public offer (IPO) of Varun Beverages entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by the promoters. Apart from fresh issue of 1.5 crore equity sh...

Day Before IPO Advanced Enzyme Tech Raises Rs 123 crore

20Jul By NitishNo Comments

FUNDING

Day Before IPO Advanced Enzyme Tech Raises Rs 123 crore

Ahead of its initial public offer tomorrow, Advanced Enzyme Technologies today mopped up nearly Rs 123 crore from as many as 15 anchor investors. Little over 13.71 lakh shares were allotted to the anchor investors at Rs 896 apiece, the upper end of the price band for the Rs 411 crore IPO. DB International (Asia) Ltd, Kuwait Investment Authority Fund, DSP Blackrock Equity Fund, SBI Life Insurance Company Ltd, L&T Mutual Fund Trustee Ltd and Kuwait Investment Authority Fund, DSP Blackrock Equity Fund, SBI Life Insurance Company Ltd, L&T Mutual Fund Trustee Ltd are among the anchor investors. Advanced Enzyme Technologies is the largest domestic enzyme company, engaged in research, development, manufacture and marketing of over 400 proprietary products developed from 60 indigenous e...

Year’s Biggest Tech IPO- Line Launch Goes Well

18Jul By PriyankaNo Comments

BUSINESS

Year’s Biggest Tech IPO- Line Launch Goes Well

Japan's Line Corp saw its shares rocket on their Tokyo debut, extending a strong start in New York the day before, and taking the value of the messaging app firm to $8.6 billion in the year's biggest tech IPO. The operator of the world's seventh most-used messaging app listed first in New York in a move widely seen as a sign of determination to challenge global peers and eventually expand beyond strongholds of Japan and Southeast Asia. However, Line's 218 million global monthly active users pale in comparison to the 1 billion of market-leader WhatsApp and 900 million of Messenger, both owned by Facebook Inc. Tencent Holdings Ltd's WeChat, which dominates in China, has 697 million. "We're providing the same kind of services as Facebook and Google, the internet giants of the world," Chi...

27Jun By reutersNo Comments

News

Messaging App Line Delayed IPO Launch

Japanese messaging app firm Line Corp has delayed setting a tentative price range for its initial public offering (IPO) by one day, until Tuesday, the company said in a regulatory filing, citing the "market environment". The IPO price range was originally scheduled to be announced on Monday. Line still plans to list in New York on July 14 and in Tokyo the following day, the filing showed. On Friday, the S&P 500 fell 3.6 percent, its biggest one-day drop in 10 months, and Japan's broad Topix index slid 7 percent after Britain voted to exit the European Union. The equity market in Japan recovered somewhat on Monday as the Topix closed up 1.8 percent, but the delay will allow the company to assess the market in New York and London on Monday before setting the tentative price range, a...

PepsiCo Indian Franchisee Varun Beverages Files For IPO

25Jun By Press Trust of IndiaNo Comments

BUSINESS

PepsiCo Indian Franchisee Varun Beverages Files For IPO

Varun Beverages, franchise for soft drinks maker PepsiCo, today filed preliminary papers with Sebi for an IPO to raise over Rs 1,000 crore. The IPO entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by promoters. The company has filed the draft red herring prospectus with the Securities and Exchange Board of India (Sebi), it said in a release. Sources said Varun Beverages expects to raise more than Rs 1,000 crore through the initial public offer. Apart from fresh issue of 1.5 crore equity shares, there would be offer for sale of up to 5,000,000 shares each by Varun Jaipuria and Ravi Kant Jaipuria & Sons (HUF), the release said. A portion of shares in the IPO would be reserved for eligible employees not exceeding five per...

16Mar By AnkitaNo Comments

BUSINESS

India’s First Profitable E-commerce Firm Infibeam Looking to Raise $334 Million in IPO

E-commerce firm Infibeam Incorporation is eyeing a valuation of as much as $334 million as it sells shares next week in the sector's first initial public offering. The company, founded by former Amazon.com employee Vishal Mehta in 2007, set a price range of 360 rupees to 432 rupees per share on Tuesday as it seeks to raise up to 4.5 billion rupees ($67 million) in the IPO. Speaking at a news conference, executives said they expected a dilution of 20 percent to 22 percent in the IPO, which means the company could be valued at 22.5 billion rupees after the share sale. The sale will take place from March 21 until March 23, and trading is set to begin on or around April 4. Although a comparatively small IPO, Infibeam's debut is widely expected to serve as a proxy for stock market i...