Saudi Aramco earnings drop $15bn as IPO gets underway November 4, 2019 Saudi Aramco’s income fell by over $15bn (£11.6bn) year-on-year, the company announced this morning, just a day after the oil giant’s long-awaited initial public offering (IPO) got underway. Results for the first nine months of 2019 showed that income slipped from $83.3bn in 2018 to $68.2bn this year, with revenues down from $233.3bn to $217.1bn. [...]
Saudi Aramco IPO gets the green light for December float November 3, 2019 Saudi Aramco finally announced it would begin its long-awaited initial public offering (IPO) this morning after nearly four years of uncertainty and delays. The world’s most valuable company will list on Saudi Arabia’s domestic Tadawul exchange in December, with an international float planned afterwards. Read more: Saudi Aramco to start IPO process on 3 November [...]
Metals firm TNG wants a London Stock Exchange IPO October 23, 2019 Australian strategic metals company TNG today confirmed it is seeking to list on the London Stock Exchange (LSE). As yet, no decision has been taken as to whether TNG will look to raise funds through the initial public offering (IPO), which it expects to complete by 2020. Read more: Boeing’s earnings slump 51 per cent [...]
Visual effects firm DNEG confirms plans for £150m London listing October 22, 2019 Oscar award-winning visual effects firm DNEG has confirmed plans to list on the London Stock Exchange, saying it will seek to raise £150m from the float. The London-headquartered company said it intends to sell at least 25 per cent of new and existing shares in a bid to fast track its growth plans. Read more: [...]
Softbank seeks control of Wework via financing package October 14, 2019 Softbank is reportedly preparing a financing package for Wework that would give it control over the cash-strapped shared office space company. The package would significantly increase the stake of Softbank, which already owns around a third of Wework, a source familiar with the matter told Reuters. This would further dilute the influence of Wework co-founder [...]
Aston Martin: The float that left the City shaken, not stirred October 2, 2019 Over the years, Aston Martin observers have watched the firm’s most famous client, James Bond, career into the river Tiber, skid across the polar ice caps and hurtle off an alpine road in its cars. Each time, ludicrously, he emerges alive. So when chief executive Andy Palmer told investors: “We don’t make cars, we make [...]
Reality is finally catching up with overblown Silicon Valley rhetoric September 26, 2019 Rhetoric, the art of persuasion, was the backbone of a classical education. Today the term is more often pejorative: rhetoric is found wherever reality isn’t. No fantasy, however, can be long sustained. If rhetoric is to deliver its original purpose and persuade, it cannot escape reality for long. So Silicon Valley is discovering. For over [...]
Wework board members consider removing chief executive Adam Neumann September 22, 2019 Some Wework board members, including some tied to major investor Softbank, are planning to try to force chief executive Adam Neumann to step down, according to reports. The board of the We Company’s board could meet as soon as this week, and may consider a proposal for Neumann to become the firm’s non-executive chairman, the [...]
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 [...]