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Initial Public Offering

Self-driving truck startup TuSimple eyes over $8bn valuation in US IPO
Markets

Self-driving truck startup TuSimple eyes over $8bn valuation in US IPO

  • The company said it aims to raise about $1.3 billion in its offering by selling around 34 million shares at a price range between $35 and $39 apiece.
  • TuSimple is the third company to announce plans to raise more than $1 billion through share sales on Wednesday, as companies continue to tap into the red-hot US IPO market.
Published 07 Apr, 2021 06:24pm
India's Kalyan Jewellers IPO loses shine, sees tepid demand
Markets

India's Kalyan Jewellers IPO loses shine, sees tepid demand

  • The numbers compare unfavourably to other listings this year, including for paint maker Indigo Paints Ltd, which was 50 times oversubscribed, and engineering firm MTAR Technologies Ltd, oversubscribed more than 100 times.
  • Kalyan's offering of 95.71 million shares - worth 8.33 billion rupees at the upper end of the company's IPO price range of 86-87 rupees per share - had drawn bids by 1130 GMT on Thursday worth 10.66 billion rupees ($146.6 million).
Published 18 Mar, 2021 07:51pm
German solar car firm Sono Motors explores US stock market listing
Markets

German solar car firm Sono Motors explores US stock market listing

  • Sono Motors is developing an electric car that uses solar panels on its outside to power its batteries, but which can also be charged using a plug. The solar panels generate energy worth on average 112 kilometers a week.
  • Special purpose acquisition companies raise funds in an initial public offering with the aim of buying a private firm, which then automatically gets a stock market listing.
Updated 15 Mar, 2021 09:24pm
Oprah-backed Oatly plants IPO seed with private regulatory filing
Markets

Oprah-backed Oatly plants IPO seed with private regulatory filing

  • Oatly, known for its oat milk products, has tie-ups with several cafes in the United States, including Starbucks and also sells its products online and in retail stores.
  • Oatly raised a $200 million equity investment in July last year from a group led by Blackstone Group Inc that includes Oprah Winfrey, Natalie Portman and former Starbucks Corp chief Howard Schultz.
Published 23 Feb, 2021 05:11pm
Mortgage vendor IPO woes reflect US housing market peak
Markets

Mortgage vendor IPO woes reflect US housing market peak

  • Five mortgage vendors have scaled back or canceled plans to go public in the last four months, as investors flinched at their frothy valuations.
  • Investors don't like buying into a company at the start of a down cycle, and mortgage originations are an extremely cyclical business.
Published 22 Feb, 2021 06:54pm
Alec Gores, Guggenheim-backed SPAC seeks to raise $750 million via IPO
Markets

Alec Gores, Guggenheim-backed SPAC seeks to raise $750 million via IPO

  • Gores Guggenheim, co-sponsored by Gores Group LLC and Guggenheim, said it plans to sell 75 million units composed of shares and warrants, priced at $10 per unit on the Nasdaq Capital Market.
  • Another Gores-backed SPAC, Gores Holdings VI Inc, earlier this month agreed to take 3D camera maker Matterport Inc public for $2.9 billion.
Published 22 Feb, 2021 06:04pm
AmTrust CEO-backed SPAC files for $300mn IPO
Markets

AmTrust CEO-backed SPAC files for $300mn IPO

  • Pine Technology Acquisition Corp said it plans to sell 30 million units, made up of shares and warrants, priced at $10 per share on the Nasdaq Capital Market.
  • SPACs are shell companies that raise funds through an IPO to acquire a private company, which becomes public as a result of the merger.
Published 19 Feb, 2021 05:15pm