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IPO

Deliveroo trims valuation ahead of stock market launch

LONDON: Deliveroo on Monday trimmed the anticipated value of its London flotation, citing market volatility, but...

Published 30 Mar, 2021 05:45am

Business & Finance

Adam Neumann's final WeWork act: helping SoftBank's SPAC deal

Neumann was locked in a fierce legal battle at the time with SoftBank over a $3 billion deal for a portion of his and other investors' stake in the office space-sharing company.
Ranadivé's SPAC had been looking for an acquisition target after raising $420 million in an IPO in August.

Published 29 Mar, 2021 07:04pm

Markets

Didi leans towards NY for IPO, eyes valuation of at least $100bn

HONG KONG: China’s top ride-hailing firm Didi Chuxing is leaning toward picking New York over Hong Kong for its...

Published 29 Mar, 2021 06:05am

Markets

SoftBank-backed ACV Auctions raises offer price range, eyes $364mn IPO

The company, also backed by investment firm Bessemer Venture Partners, said it was looking to sell 16.55 million shares at a price range of $20 to $22 per share.
At the top end of the new range, the company would be valued at $3.39 billion.

Published 22 Mar, 2021 06:47pm

World

China’s regulator for tighter IPO scrutiny

SHANGHAI: China's top securities regulator on Saturday urged underwriters to tighten scrutiny on companies seeking ...

Updated 21 Mar, 2021 05:50pm

Markets

Nikola, Lordstown shares drop in latest sign of turbulence for EV sector

Nikola shares were down 3.5% in premarket trading while Lordstown was trading 4.8% lower, adding to declines of roughly 50% from their highs this year amid concern about the electric truck makers' ability to delivery on technology, as well as worries about rising yields and valuation.
Nikola said on Wednesday that South Korea's Hanwha Corp has decided to sell up to half of its stake in the company.

Published 18 Mar, 2021 08:41pm

Pakistan

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

Business & Finance

Russia readies for IPO flurry that will raise at least $10bn this year, says UBS

This year could be best for equity raisings from Russia since 2007 given the global liquidity boost and the fact that Russia was overlooked and underinvested in the recent past.
On a price-to-earnings ratio, Russian stocks' discount to their emerging and developed market peers has widened this year from 2020 levels, returning to the historical average of around 50%.

Updated 16 Mar, 2021 10:02pm

Business & Finance

Pakistan shoe exporter to launch IPO this month

The shoemaker plans to raise at least Rs 1.6 billion or $10 million by offering 41 million shares at a price of Rs 38 each, Habib said.

Published 16 Mar, 2021 03:02pm

Business & Finance

Robinhood plans confidential IPO filing as soon as March - Bloomberg News

The California-based brokerage has held talks in the past week with underwriters about moving forward with a filing within weeks, Bloomberg said.

Published 27 Feb, 2021 10:29am

Pakistan

CCP, IPO sign MoU for info sharing, capacity building

ISLAMABAD: The Competition Commission of Pakistan (CCP) and the Intellectual Property Organisation of Pakistan (IPO)...

Published 23 Feb, 2021 05:20am

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

Business & Finance

Lahore based drug maker eyes to launch country’s biggest pharma IPO

As per Citi Pharma Chief Executive Officer Rizwan Ahmed, the pharma is expected to go public in a matter of six weeks.

Published 19 Feb, 2021 02:26pm

GI tag for Basmati rice: IPO submits reply to EU against India's claim

ISLAMABAD: The Intellectual Property Organization (IPO) has submitted it reply to the European Union (EU) against...

Published 19 Feb, 2021 04:07am

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

Business & Finance

IMC honoured with 4 awards

KARACHI: Indus Motor Company (IMC) has been recognized by The Professionals Network (TPN), Pakistan for its...

Updated 12 Feb, 2021 09:30am

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

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

Markets

Daimler to invest 1.5bn euro in truck business in wake of IPO

The Daimler truck business will have fully independent management, stand-alone corporate governance including an independent chairman of the supervisory board, and is targeted to qualify as a DAX company.

Published 03 Feb, 2021 09:45pm

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

Markets

Dubai says local companies must IPO locally before seeking listings abroad

Companies founded elsewhere must list their shares in Dubai when their revenues from local market reach 50% and higher and when their local assets reach 50%.

Published 30 Jan, 2021 05:43pm

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

Business & Finance

Pakistan secures GI tag for Basmati rice

Arif while praising the IPO and Ministry of Commerce was of the view that the protection in Pakistan would strengthen our case in the European Union against Indian claim of an exclusive basmati GI tag.

Published 27 Jan, 2021 01:21pm

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

Business & Finance

Goldman Sachs profit more than doubles on underwriting, trading boost

Revenue from global markets, which houses the bank's flagship trading business, registered its best annual performance in a decade.
Total revenue climbed 18% to $11.74 billion. The bank's net earnings applicable to common shareholders rose to $4.36 billion.

Published 19 Jan, 2021 07:32pm

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

Markets

Philippines' electric grid operator prepares for 'eventual' IPO

The National Grid Corp of the Philippines (NGCP), partly owned by China State Grid Corp.
We were previously advised that market conditions may not be ideal at the moment, but we continue to take steps to prepare for an eventual IPO.

Published 06 Jan, 2021 07:27pm

Markets

Companies raised Rs35.4bn through IPOs, Right Issues at PSX in 2020

PSX witnessed four IPOs (including are preference share listing) during this year in spite of the COVID-19 outbreak, where the cumulative amount raised clocked in at Rs 8.4bn.
The IPOs were witnessed in sectors like steel, meat processing, telecom and chemicals.

Published 24 Dec, 2020 12:14pm

Markets

SEC permits companies to raise capital through Direct Listing

The development will reduce costs for startups as they will no longer be required to let investment banks buy and sell when they first go public on the NYSE.

Published 23 Dec, 2020 10:39am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 17	278.30
USD PKR Interbank Buying / May 17	278.10
USD to Japanese Yen / May 17	155.67
USD to Swiss Franc / May 17	0.91
Pound Sterling to USD / May 17	1.27
Euro to USD / May 17	1.09

Stock	Volume
S&P 500 / May 17	5303.27
India Sensex / May 17	73917.03
Tokyo Nikkei / May 17	38787.38
Nasdaq / May 17	16685.97
Hang Seng / May 17	19535.61
FTSE 100 / May 17	8420.26
Dow Jones / May 17	40003.59
Germany DAX 30 / May 17	18704.42

Item	Value
Crude Oil USD/Barrel / May 17	79.59
Karachi Cotton PKR/37.32 KG / May 17	19935
Gold 10 Grams PKR / May 17	210562
Gold Spot USD/Ounce / May 17	2386.18
Cotton US¢/pound / May 17	76.29
Petrol/Litre / May 20	273.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 20 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 20 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 20 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 20 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 20 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 20 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 20 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 20 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 20 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 20 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 20 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 20 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 20 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 20 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 20 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 20 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 20 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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