SoftBank injects $1.7bn into South Korea’s largest travel app ahead of IPO July 15, 2021 SoftBank’s Vision Fund II is injecting around $1.7bn in South Korea’s largest travel app ahead of its initial public offering and a worldwide travel boom. Seoul-based startup Yanolja, South Korea’s largest travel app said it plans to use the funds to expand geographically and to widen its digital technologies in the travel and hospitality industry. [...]
Darktrace upgrades 2022 expectations after strong sales July 15, 2021 Darktrace, a cybersecurity AI firm that listed in April, today said it expects revenue for the last financial year to have grown 40 per cent to $278m (£201m), upgrading its guidance for 2022. It now expects year over year revenue growth of between 29 per cent and 32 per cent (previously 27 per cent to [...]
Bridgepoint sets London IPO of up to £2.9bn July 14, 2021 Private equity firm Bridgepoint’s London IPO could value the company at as much as £2.9bn, in the first major UK listing for the industry in decades. The buyout group, which has around €27.4bn of assets under management across equity and debt funds, is looking to raise up to £789m when it lists on the London [...]
Kate Middleton-favoured maternity brand Seraphine eyeing £150m IPO July 13, 2021 Online maternity and nursing brand Seraphine is looking to raise just over £150m in its London IPO, floating on the tech-crazed market for the first time today. Today’s float, which commenced at 08:00, will see Kate Middleton’s go-to maternity brand’s shares set at 295p per share under the ticker “BUMP”. Around 50 per cent of [...]
US semiconductor firm Achronix scraps $2bn Spac listing July 12, 2021 US semiconductor company Achronix has scrapped its planned $2.1bn (£1.5bn) blank-cheque listing after the deal was held up by regulators. The California-based company inked an agreement in January to merge with a special purpose acquisition company (Spac) named Ace Convergence Acquisition Corp. The deal was subject to meeting certain closing conditions, including gaining regulatory approval. [...]
SoftBank-backed Flipkart rallies $37bn valuation, just south of its target July 12, 2021 Indian e-commerce giant Flipkart, which is controlled by Walmart, has been valued at $37.6bn today, just shy of its target. The valuation comes ahead of an initial public offering (IPO), which it hopes will take place early next year. Flipkart rallied $3.6bn in the pre-IPO fundraiser, which spurred its valuation and was co-led by SoftBank Vision [...]
Space investor Seraphim’s London IPO skyrockets, raising lofty £180m July 12, 2021 Seraphim Space Investment Trust rallied £178.4m on Friday as people piled into the space tech investor’s initial public offering. The lofty IPO faired well on the London market which has recently been driven by tech companies, particularly as it floated in the shadow of tech firm £8bn Wise which went public just days before. “Space [...]
Screenshot: Should the UK tech sector really be cashing in its chips? July 9, 2021 This week **Media Moment of the Week: Tesco’s football fail **Should the UK tech sector really be cashing in its chips? **A Wise move Media Moment of the Week: Tesco’s football fail Once again the internet was awash with football this week, and plenty of brands decided to jump on the England bandwagon for a [...]
Delivery boom: Ant Group-backed Zomato eyes IPO valuation of nearly $8bn July 8, 2021 Ant Group-backed food delivery company Zomato has a near $8bn valuation on the cards in its initial public offering (IPO), with shares priced at 0.96 cents to $1.02 per share. Zomato, one of India’s most biggest startups, has reaped the rewards of a pandemic-induced surge in online ordering. The lofty $7.98bn figure is at the [...]
Didi’s $1.5bn share plunge looms over China’s electric carmaker XPeng debut July 7, 2021 Shares in electric carmaker XPeng debuted on the Hong Kong stock exchange today, while Didi’s $1.5bn share plunge looms over the fellow Chinese tech firm. China-based firms trading in the US have pivoted towards trading closer to home, in an attempt to ease hawkish regulators amid Beijing’s tech and security crackdown. Nasdaq-listed XPeng, which has [...]