Tech crackdown: China proposes banning local sensitive data firms from US IPOs August 27, 2021 China has turned its attention to the US stock market amid its tech sector crackdown, according to reports, by suggesting new rules that ban sensitive data firms from listing. The new rules target internet companies, but the China Securities Regulatory Commission, its local market watchdog, has said that those in the pharmaceutical industry, are still [...]
Roger Federer-backed shoemaker files IPO in US August 24, 2021 On, a shoemaking company backed by tennis star Roger Federer, has filed for an initial public offering in New York, according to widespread reports. The Swiss shoemaker was, according to reports, valued at around $2bn after its last funding round. According to Reuters, On could pursue a valuation between $4bn to $6bn in its IPO. [...]
HSBC to pull together $2bn IPO for China’s biggest AI firm SenseTime August 17, 2021 HSBC is working with China’s largest artificial intelligence group SenseTime to form a Hong Kong listing, according to reports. SoftBank-backed SeneTime’s initial public offering (IPO) could wire in at least $2bn, Bloomberg reported, citing people familiar with the matter. China International Capital is helping HSBC arrange the float for the firm. The company has decided [...]
Home working win: HR software firm Gusto hits $10bn valuation and mulls IPO August 10, 2021 HR software firm Gusto has hit a $10bn valuation following its latest funding round, amid work-from-home measures in which it thrived. The company secured $175m in a funding round in recent weeks, its CEO Josh Reeves told Forbes, after bagging $200m in capital last year. The capital rally was led by T. Rowe Price and [...]
Crackdown fears: Tencent-backed videogame maker sees shares drop 20 per cent in debut August 10, 2021 Videogame maker Krafton has watched its highly anticipated initial public offering collapse 20 per cent in its debut, as it was rocked by fears of a gaming crackdown across the pond. After securing a $3.8bn initial public offering (IPO), South Korea’s largest in over a decade, Tencent-backed Krafton became the first stock debut to fall [...]
Tech firm NetEase pulls $1bn Cloud Village IPO after Beijing’s attack on gaming August 9, 2021 Chinese technology firm NetEase has put a pin in its $1bn Hong Kong listing for its music streaming service Cloud Village due to recent volatility in the tech market, according to reports. The initial public offering (IPO) had already been approved by the Hong Kong Stock Exchange’s listing committee, according to filings lodged with the exchange. [...]
Grab Sales Jump Ahead of Public Listing August 2, 2021 Grab, Southeast Asia’s biggest ride hailing and food delivery group, has reported strong first-quarter sales. Adjusted net sales rose 39 per cent to $507 million (£365 million) while adjusted EBITDA losses improved by $233 million year on year to $111 million. Peter Hey, Chief Financial Officer of Grab, said the firm had exceeded its internal [...]
More IPO leaders called Steve than female led ones July 30, 2021 Female founded IPOs have accounted for 3.6 per cent of all IPOs since 2016, according to new research. The data, which reviewed the last five years of IPO activity, showed that out of the 276 companies that went public on the London Stock Exchange between 2016 and 2020 – just ten were led by a female CEO or founder. [...]
Robinhood shares slide below offer price on Wall Street debut July 29, 2021 Shares in popular trading platform Robinhood slumped below their offer price immediately after their Nasdaq debut on Thursday, in a lacklustre start to one of this year’s most anticipated IPOs. In what signalled slack investor demand for the online brokerage – which exploded in popularity during the pandemic amid retail investor appetite – shares fell [...]
Contenful now worth $3bn after fresh capital rally ahead of rumoured US IPO July 28, 2021 Content platform provider Contentful, led by a former Microsoft and Amazon executive, has hit a valuation of $3bn today after its latest funding round. The fundraiser, led by investment giant Tiger Global, rallied together $175m for its expansion into marketing and sales. The German company, founded in 2012, operates content management systems behind websites like [...]