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Apr 28, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

IPO

Service Global Footwear Ltd. planning IPO to raise $10 million for joint investment

Service Global Footwear Ltd. planning IPO to raise $10 million for joint investment

  • Pakistan's largest shoe exporter, Service Global Footwear Ltd., has planned an initial public offering (IPO) to raise funds from the domestic market to invest in the parent company's tire joint-venture.
  • Service Global Footwear plans to use the IPO proceeds to buy about 20% stake in a joint venture set up by Service Industries and China’s Chaoyang Long March Tyre Co.
Updated 17 Mar, 2021 02:44pm
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
Jack Ma's Ant IPO blocked by Chinese government, after probe revealed political beneficiaries
World

Jack Ma's Ant IPO blocked by Chinese government, after probe revealed political beneficiaries

  • Last year, Chinese premier Xi Jinping blocked Ant Group's initial public offering, as it was speculated that the decision was based on Jack Ma's public criticism of Jinping's financial oversight campaign, and that it could add risk to the financial system.
  • A group of well-connected Chinese power players backed the company; including those linked with political families that pose a potential challenge to Jinping's authority.
Updated 17 Feb, 2021 05:05pm
EU advisor backs compensation claims over Bankia's 2011 IPO
Business & Finance

EU advisor backs compensation claims over Bankia's 2011 IPO

  • Less than a year after Bankia's IPO raised 3.1 billion euros, of which 60% belonged to retail investors and 40% to institutional shareholders.
  • Spain's top court, which in previous rulings acknowledged that Bankia's initial public offering contained "serious inaccuracies as to the true financial condition of the issuing entity".
Updated 11 Feb, 2021 09:28pm
Mortgage lender loanDepot cuts IPO size to less than a fifth
Markets

Mortgage lender loanDepot cuts IPO size to less than a fifth

  • The company sold 3.85 million shares at $14 each, raising $53.9 million. It had previously aimed to sell 15 million shares between $19 and $21 each.
  • Mortgage firms have struggled to attract investors to share offerings despite bumper activity in 2020 as consumers took advantage of historically-low interest rates to refinance existing home loans.
Updated 11 Feb, 2021 09:24pm
Wilbur Ross-backed SPAC looks to raise up to $300mn in IPO
Markets

Wilbur Ross-backed SPAC looks to raise up to $300mn in IPO

  • The company said it intends to identify a target business with either all or a substantial portion of its activities in North America, Europe, or Asia.
  • Blank-check companies, also known as special purpose acquisition companies (SPACs) had a record run in 2020, raising more than $82 billion through IPOs. In January 2021.
Published 02 Feb, 2021 05:57pm
Retail buyers flood China's Kuaishou HK IPO with $162bn offered
Markets

Retail buyers flood China's Kuaishou HK IPO with $162bn offered

  • The huge demand comes amid growing fears about an asset bubble, with amateur investors boosting the price of assets ranging from cryptocurrencies to new stock market listings.
  • As per Hong Kong's clawback rules, the retail portion of the IPO will now be enlarged to 6% due to the demand.
Published 29 Jan, 2021 05:57pm
Russian low price goods network Fix Price aims for $1bn IPO
Markets

Russian low price goods network Fix Price aims for $1bn IPO

  • Fix Price, which sells goods in walk-in shops and online at fixed prices, has grown in popularity as the COVID-19 pandemic has reduced many Russians' spending power.
  • In a statement to Reuters, Fix Price said that it is considering different "strategic development options.
Published 26 Jan, 2021 09:05pm
IHIG Pakistan aims to launch IPO in 2022
Business & Finance

IHIG Pakistan aims to launch IPO in 2022

  • International Hospitality Investment Group is Pakistan's first vacation ownership company headquartered in London.
  • "An IPO will only add more credibility and transparency that will allow the concept to grow faster,” said IHIG Pakistan CEO.
Published 12 Jan, 2021 12:20pm