Snap Inc’s share price is tumbling further as blockbuster IPO gains disappear March 8, 2017 Shares in Snap, the social media phenomenon that last week became the darling of the New York Stock Exchange, tumbled further at the open of US markets on Tuesday, falling a further 10 per cent to a fresh low of $21.30. Stock in the star tech company fell back down to earth yesterday, wiping nearly [...]
London IPO, New York or sale? Technology giant Misys said to be keeping its options open after last year’s pulled UK float March 7, 2017 Technology giant Misys could be sold rather than try for another initial public offering (IPO) after last year’s pulled London float, sources have said. The private equity owner of Misys is understood to be keeping its options open for exiting the technology company, with a listing in New York also being explored. Read more: Fears [...]
Snap shares sparkle and pop on first day of trading as it gets valued at around $28bn March 2, 2017 Shares in tech company Snap, parent of messaging app Snapchat, jumped more than 40 per cent in their first day of trading on the New York Stock Exchange yesterday, defying doubts about the company’s early-stage business model, losses and slowing user growth. In a frantic day of trading, shares changed hands at more than $25, well [...]
New York wins big in global IPO boom – and that’s even before Snap’s flotation is counted March 2, 2017 The New York Stock Exchange (NYSE), home to this week’s eagerly-awaited IPO from Snap, has been the most popular exchange for new listings globally so far this year. The findings come as new data shows that the number of flotations worldwide has surged to levels not seen since before the credit crunch. With 187 offerings [...]
Steel billionaire Lakshmi Mittal’s son-in-law Amit Bhatia is a Snap investor and he expects the IPO to boom March 1, 2017 Snap's impending float will be mega successful, according to a London investor in the messaging app. Amit Bhatia, steel billionaire Lakshmi Mittal's son-in-law and founder of Swordfish Investments, took part in a funding round in 2014 that valued the company behind Snapchat at $10bn (£8.13bn). "Far from looking to exit at IPO, I would look to add to my [...]
Clear off: City of London steps up fight to retain euro clearing after expert warnings against “currency nationalism” February 22, 2017 High-profile regulators, politicians and financial experts have warned that any move by the European Union to force euro clearing out of London could have grave consequences for global economic stability. Sir Jon Cunliffe, the deputy governor of the Bank of England who supervises financial stability, hit out at “currency nationalism” on Wednesday, saying: “Such a policy if [...]
It turns out Snapchat’s IPO valuation is lower than we expected February 16, 2017 The company behind Snapchat has set a valuation for itself ahead of its IPO – although the figure is towards the lower end of expectations. In documents filed with the US Securities and Exchange Commission today, Snap, Inc said it plans to sell 200m class A shares at between $14 and $16, which it expects to generate [...]
Canada Goose fluffs up the market by revealing plans for $100m listing February 16, 2017 High-end US coat maker Canada Goose has announced plans to raise $100m by listing on the New York and Toronto stock exchanges. The listing will give the firm, backed by Bain Capital, the ability to pay down debt and expand sales in the US. And in what could be seen as a stroke of marketing genius, the [...]
Softbank buys US fund manager Fortress for $3.3bn in next step of strategic redirection February 15, 2017 Japanese group Softbank has agreed to buy US fund manager Fortress in a deal worth $3.3bn (£2.6bn), as part of the telecom and technology firm's strategic redirection. Announced overnight, the deal is the first by Softbank into an investment fund and follows the an announcement last October by chief executive and founder Masayoshi Son that the group has [...]
T-Mobile adds 8m US customers for third year in a row and beats market expectations February 14, 2017 T-Mobile, the third largest mobile phone operator in the US, today beat market expectations with "rock-solid" full-year results. The firm said it had added a total of 2.1m customers in the final three months of the year, taking the total number of new customers to 8.2m in 2016. Read more: Vodafone sells Dutch broadband operations [...]