Wework IPO: Is the coworking giant still working for investors? September 17, 2019 Wework today revealed it will push back plans for its closely-watched initial public offering (IPO) after more and more investors gave the coworking giant the cold shoulder. Parent group We Company has been hampered by cooling investor appetite and has even reportedly slashed its planned valuation in half to $20bn (£16bn) in a bid to [...]
Media group Endeavor looks to raise $712m from float September 16, 2019 US media giant Endeavor Group today said it is looking to raise up to $712m (£573m) from its initial public offering (IPO) later this year. The company, which owns Hollywood talent agency William Morris Endeavor, said it will sell roughly 19m shares priced between $30 and $32 each. Read more: Liberty Media faces logistical nightmare [...]
US oil firm Vaalco looking for multi-million pound acquisitions on London listing September 16, 2019 The boss of US oil explorer Vaalco has said the company could quadruple its size through an acquisition as he announced a plan to list in London. Vaalco, which produces 3,664 barrels of oil per day from an oil field in Gabon in West Africa, sees significant opportunities to expand through mergers or acquisitions, chief [...]
JP Morgan set to pip rivals for Saudi Aramco mega-float September 8, 2019 Bankers at JP Morgan Chase could get bragging rights by leading history’s biggest public float, it was revealed. The company is close to winning the role as adviser to Saudi Aramco as it looks to hit stock markets potentially as early as November, Reuters reported, citing sources. The decision is not final, and could be [...]
Sir Richard Branson’s Virgin Galactic faces first investor vote of confidence on stock market listing September 8, 2019 Sir Richard Branson’s space tourism venture Virgin Galactic faces its first test of investor confidence in a proposed stock market float tomorrow. Would-be shareholders will vote on whether to back the entry via investment vehicle Social Capital Hedosophia (SCH), or whether to withdraw their cash entirely. Read more: Richard Branson’s Virgin Galactic plots public listing [...]
Investors balk at Slack’s earnings debut on Wall St September 4, 2019 Shares of workplace technology giant Slack fell more than 15 per cent in after-hours trading tonight, following the company’s first set of quarterly results published since its markets debut in June. Slack, which is the creator of its eponymous workplace messaging app, said it had suffered a significant impact on its revenue due to the [...]
Global stock markets rise as Trump and China dial down trade war rhetoric August 26, 2019 US and European stock markets climbed into the green today after US President Donald Trump calmed investors by saying China was seeking an end to the two sides’ raging trade war. Read more: Trump announces tariff hikes as US-China trade war escalates At the G7 world leaders’ summit in France, Trump said: “We are having [...]
Workspace firm IWG in talks to list standalone US business in New York August 24, 2019 Founder of International Workplace Group (IWG), Mark Dixon, is in talks with investment banks to create a spin off its US business to be listed as a separate company in New York, according to Sky News. Dixon’s standalone business would become a publicly traded rival to WeWork, which is targeting a valuation of $50bn from [...]
BT lines up £100m sale of Dutch infrastructure in bid to simplify business August 18, 2019 BT is said to be preparing the sale of more than £100m worth of infrastructure in the Netherlands, marking the latest step in its radical simplification plan. Boss Philip Jansen is set to offload telecoms towers and broadband cables that serve the firm’s Global Services business customers in the country, the Sunday Times reported. Read [...]
US stock markets jump after China hints at stimulus August 16, 2019 US stock markets have opened significantly higher after China sewed hopes of more stimulus and a rally in government bonds slowed down. Read more: FTSE 100 follows European stocks upwards after it reopens The tech-heavy Nasdaq index was the biggest climber, rising one per cent shortly after the opening bell. The S&P 500 had risen [...]