Arabian Internet and Communications Services Co. revealed plans of auctioning 24 million of its shares, trusting this move will raise $960 million in its initial public offering (IPO). The company, which is a subsidiary of Saudi Telekom Company (STC), will look to auction off the shares with prices ranging between $36.26 and $40.26 per share. […]
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China’s regulatory officials revealed at a state council briefing on Tuesday that the upcoming set of regulations concerning the state’s vital information infrastructure will not be steered towards companies drafting foreign IPOs. While the magnitude of imposed regulations increased in the past couple of months, leading to an elevated reflection on China’s tech industry, the […]
China has allegedly terminated independent driving startup Pony.ai’s efforts to go public on New York Stock Exchange (NYSE) amidst Beijing’s endeavors to enforce regulations on numerous sectors in China’s tech industry, Reuters reported on Wednesday. The California-based company was expected to go public via a special-purpose acquisition with a blank-check company in the U.S. that would have […]
South Korean developer of Player Unknown’s Battlegrounds’ (PUBG), Krafton, initial public offering recorded a 20 percent drop on Tuesday following a crackdown due to a state-led media attack on the gaming industry. This is considered the biggest initial decline of a South Korean IPO after LG Philips LCD collapse in the same market 17 years ago. Krafton’s loss came after it reduced its IPO target by more than 10 percent last month following regulatory demands […]
Amidst Washington’s deadlock with Beijing, China Telecom may potentially elevate its Shanghai’s initial public offering (IPO) to more than $8 billion leading to its biggest offering this year in the Shanghai Stock Exchange, following the firm’s delisting in its New York counterpart (NYSE) in January. Following Chinese media reports, the Beijing-based firm established its IPO at $0.70 per share, inflating the firm’s worth […]
Famous Beijing-based giant Didi denied any allegations of plans to go private in a bid to satisfy the Chinese government amidst latest regulations concerning users’ data security. After the Wall Street Journal released a report discussing the possibility of Didi going private, the ride-hailing app’s shares increased by approximately 50 percent in Thursday’s pre-market trade. The company has been targeted by Beijing regulators ever […]
Popular investing company Robinhood Markets began trading on Thursday its initial public offering at $38 a share, followed by a 10 percent drop, and closing at $34.90. This came following an announcement on Saturday its plans to launch U.S. retirement accounts as an endeavor to raise its bidding. The investing platform had aimed to raise […]
Popular Chinese grocery shopping app Dingdong has slashed its initial public offering by 74 percent on Monday, a mere three days following it’s rival MissFresh witnessed disappointing placements on Nasdaq. Many pundits and industry analysts have argued that the reason for Dingdong’s fall from grace is due to the cooling appetite of online grocery-based apps, […]
Online review platform Trustpilot said Monday it plans to sell shares in London, in a stock offering that helps shore up the city’s status as a financial hub and destination for tech companies after Brexit. Trustpilot, which is based in Copenhagen, Denmark, said it will hold an initial public offering on the London Stock Exchange […]
Angola has cleared the way for three state-owned telecoms companies to be listed on Initial Public Offerings (IPOs), according to a presidential decree published on Thursday. Local media have reported that two presidential decrees have authorized IPOs for the privatization of state assets in TV Cabo Angola and Multitel respectively. However, a third decree has […]