Tuesday, May 28

Tag: Share market

Nestle India set first stock split date; Big Opportunity for Investors
Market

Nestle India set first stock split date; Big Opportunity for Investors

Mumbai, 21st December, 2023: Nestle India, the owner of popular brands like Nescafe, Maggi, and Kit Kat, is set to proposed stock split. The board of directors of this leading FMCG company has announced that January 5, 2024, will serve as the record date for the previously announced stock split. On October 19, Nestle's board granted approval for a stock split in the ratio of 1:10. This means that each equity share with a face value of ₹10 will be divided into 10 shares, each with a face value of ₹1. The stock split will result in an increased number of outstanding shares, thereby enhancing the liquidity of the share. Taking into account the most recent shareholding pattern available on the BSE, promoter entities presently hold a 62.8% stake in the company. Foreign institutional investo...
Financial World Legend Charlie Munger Passes Away at 99
News

Financial World Legend Charlie Munger Passes Away at 99

29th November, 2023: Charlie Munger, a renowned figure known for his close association with the celebrated American investor Warren Buffett, sadly passed away at the age of 99 on Tuesday. Having spent nearly six decades as Buffett's confidant and business partner, Munger played a pivotal role in the remarkable transformation of Berkshire Hathaway Inc. from a struggling textile manufacturer to an influential global empire. Charlie Munger's family has shared the news of his peaceful passing on Tuesday at a California hospital. Berkshire Hathaway expressed their mourning in a press release, acknowledging the significant impact Munger had on the company's trajectory. Warren Buffett, CEO of Berkshire Hathaway, deeply recognized Munger's inspiration, wisdom, and unwavering commitment to the ...
Spotify Announces Stock Buyback up to $1 billion value
Market

Spotify Announces Stock Buyback up to $1 billion value

NEW YORK, 20th Aug 2021-- Online music streaming platform Spotify Technology S.A. (NYSE: SPOT) announced that it will commence a stock repurchase program beginning in the third quarter of 2021. Repurchases of up to 10,000,000 of the Company’s ordinary shares have been authorized by the Company’s general meeting of shareholders, and the Board of Directors approved such repurchases up to the amount of $1.0 billion. The authorization to repurchase will expire on April 21, 2026. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. The repurchase program will be executed consistent with the Company’s capital allocation strategy, which will continue to pr...
Trump vs Biden: The First US Presidential debate 2020
USA

Trump vs Biden: The First US Presidential debate 2020

Washington, 30th Sept 2020: During the first of the three presidential debates in Cleveland, Ohio, Trump and Biden clashed over each other's personality, past record, family, and their visions. Democratic challenger Joe Biden on Wednesday termed President Donald Trump a "liar" and a "clown" as the pair clashed in a fiery start to their first presidential debate. "The fact is that everything he's (Trump) saying so far is simply a lie. I'm not here to call out his lies. Everybody knows he's a liar," Biden said. Responding to the jibe, Trump said Biden is a liar and graduated last in his class. Attacking Trump over the handling of the coronavirus, Biden said the president has lied to Americans on the COVID-19 issue. While on the market point of view, the US presidential d...
China’s largest pet-focused platform Boqii launches IPO in US
Market

China’s largest pet-focused platform Boqii launches IPO in US

SHENZHEN, China, Sept. 25, 2020-- China's largest pet-focused platform Boqii (BQ.US) launched an initial public offering (IPO) of $77 million in the US. With the IPO, Boqii plans to offer 7 million shares for USD $10-$12 each. Boqii will become the first US-listed company in the Chinese pet industry. According to data from US-based business consulting firm Frost & Sullivan, Boqii is the largest pet-focused platform in China in terms of revenue and number of customers, the largest pet-focused online community in the country in terms of registered users, and the largest pet-focused online retailer in the country in terms of gross merchandise value (GMV). Boqii was established in Shanghai in 2008 as a community designed to provide a vertically integrated social platform for pet own...
Singapore based Sparrow raises USD 3.5 million in Series A funding
FUNDING

Singapore based Sparrow raises USD 3.5 million in Series A funding

SINGAPORE, June 22, 2020-- Sparrow, the leading options trading platform has secured USD 3.5 million in Series A funding to accelerate platform development.  The round was led by the HDR Group, owner and operator of BitMEX, and supported by Signum Capital, Du Capital, and FinLab EOS VC.  Kenneth Yeo, CEO of Sparrow said, "We are really pleased that the round received strong support despite the harsh economic climate caused by COVID-19. The strong interest from investors validates our view that digital asset options will be the next high-growth market." "We would like to thank our partners and users for their overwhelming support. Volumes have tripled since the start of the year. With this round of funding, we are in a good position to bring even more exciting trading products to ...
Aramco declares USD 1.71 trillion valuation of its IPO, Will Sell 1.5 Percent Stake
Market

Aramco declares USD 1.71 trillion valuation of its IPO, Will Sell 1.5 Percent Stake

Saudi Arabia put a value of up to USD 1.71 trillion on energy giant Aramco in what could be the world's biggest IPO, but missed Crown Prince Mohammed bin Salman's initial target of USD 2 trillion. Aramco said it would sell 1.5 percent of the company in a blockbuster initial public offering worth USD 24-25.6 billion, scaling down Saudi Arabia's initial plan to sell up to five percent of the firm. "The base offer size will be 1.5 percent of the company's outstanding shares," the state-owned energy giant said as it began taking bids from investors in a price range of 30-32 Saudi riyals per share (USD 8-8.5). The much-delayed offering, a cornerstone of Prince Mohammed's ambitious plan to diversify the oil-reliant economy, rivals the world's biggest listing -- the USD 25 billion float...
Affle India raises $20.5 million before IPO
FUNDING

Affle India raises $20.5 million before IPO

Mobile marketing firm Affle India has raised $20.5 million (about Rs 206.55 crore) from 15 anchor investors by allotting 27,72,483 equity shares at a price of $10.5 per share, before its IPO launch. Affle India Ltd will launch its $60.5 million initial public offerings from July 29 and has fixed a price band of Rs $10.5 per share. The issue will close on July 31, 2019, according to a company statement. Among the 15 anchor investors, Abeerden Asian Smaller Companies Investment and Franklin Templeton Investment Funds has subscribed over 3.05 lakh shares each. Other anchor investors include Goldman Sachs India, Malabar India Fund, among others. The IPO comprises of a fresh issue aggregating up to $13 million and an offer for sale of up to 49,53,020 equity shares by Affle Holdings...
Alibaba Planning a Second Listing in Hong Kong to Raise $20 Billion
CHINA, Market

Alibaba Planning a Second Listing in Hong Kong to Raise $20 Billion

Reuters- Alibaba is considering raising as much as $20 billion through a secondary listing in Hong Kong, people familiar with the matter told Reuters, lining up a second blockbuster deal following its 2014 record $25 billion floats in New York. The deal, which would be the sixth-biggest follow-on share sale ever, would give Alibaba a war chest to keep investing in technology - a priority for China as growth flags and as the world's second-largest economy faces an escalating trade spat with the United States. The e-commerce giant is working with financial advisers on the offering and is aiming to file an application confidentially in Hong Kong as early as the second half of 2019, three people said on condition of anonymity as the plans are not public yet. They cautioned that many ...
Pinterest offers $15-$17 per share in IPO, Values below than $12 billion
Market

Pinterest offers $15-$17 per share in IPO, Values below than $12 billion

Social media platform Pinterest Inc set a price range of $15 to $17 per share for its IPO valuing it below than the $12 billion at which the company raises the last funding in 2017. Pinterest offers 75 million shares through its IPO. After this proposal, the company valuation will be at $10.6B vs previous valuation of $12.3B Earlier, Reuters had reported that Image search social media platform Pinterest list itself on the New York Stock Exchange under the symbol “PINS”. The company, which owns the image search website known for the food and fashion photos that its users post, reported annual revenue of $755.9 million in 2018, up 60 percent from a year earlier. But it remains unprofitable even though its net loss narrowed to $62.97 million in 2018 from $130 million a year ear...
Lyft valued at $24.3 billion in first ride-hailing IPO
Market

Lyft valued at $24.3 billion in first ride-hailing IPO

Lyft Inc was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup, raising more than it had set off to do as investors overlooked uncertainty over its path to becoming a profitable company. Lyft's IPO sets the stage for the stock market debut of larger rival Uber Technologies Inc, which Reuters has reported will kick off in April. Uber has been told by its investment bankers that it could be valued at as much as $120 billion. The success of the IPO came despite Lyft's steep losses, criticism of its dual-class share structure and some concerns over its strategy for autonomous driving, for fear of missing out on the company's strong revenue growth. "In a good market, people look beyond things. They don't see the problems as much," said Brian ...
RCom shares zoom 10% after payment to Ericsson
Market

RCom shares zoom 10% after payment to Ericsson

Shares of Reliance Communications zoomed 10 per cent Tuesday after the company cleared dues of a Swedish service provider at the eleventh hour. The scrip jumped 10 per cent to Rs 4.40, its upper circuit limit, on the BSE. At the NSE, shares rose sharply by 10 per cent to Rs 4.40. Embattled billionaire Anil Ambani Monday warded off a possible jail term as RCom cleared dues of a Swedish service provider at the eleventh hour with money received from elder brother Mukesh and his wife Nita, whom he thanked for standing by him in trying times and extending "timely support".Anil's heavily debt-laden Reliance Communications made a Rs 550 crore payment, including interest, to Ericsson just a day before the expiry of the deadline set by the Supreme Court of India to clear dues or face a th...