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October 22, 2019

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Reuters - Business

Exclusive: Blackstone, CVC seek to take Paysafe public – sources

Reuters
by Reuters00
MADRID/FRANKFURT/NEW YORK (Reuters) – Private equity firms Blackstone Group Inc (BX.N) and CVC Capital Partners Ltd are seeking to hire underwriters for an initial public offering (IPO) of Paysafe Group Ltd that could value the payments processing firm at more than $10 billion, including debt, according to people familiar with...
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Reuters - Business

Aramco listing was delayed to rope in anchor investors: sources

Reuters
by Reuters01
DUBAI/RIYADH (Reuters) – Oil giant Saudi Aramco’s much-vaunted stock market listing was delayed after deal advisers said they need more time to lock in cornerstone investors, three sources with direct knowledge of the matter told Reuters. FILE PHOTO: The Saudi Aramco logo pictured at the company’s oil facility in Abqaiq,...
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CNBC - Real Estate

WeWork went ‘off the rails’ but is a ‘real company’

CNBC Real Estate
by CNBC Real Estate03
Real estate mogul Barry Sternlicht told CNBC on Friday that while WeWork has had its failures, there’s still a real business to be found at its core. “This company got a little off of the rails,” said Sternlicht, chairman and CEO of investment firm Starwood Capital, which has about $60...
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Reuters - Business

Saudi Aramco delays planned IPO: FT

Reuters
by Reuters06
FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo (Reuters) – Saudi Aramco has delayed the planned launch of its initial public offering (IPO), the Financial Times reported on Thursday, citing three people familiar with the...
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CNBC Business

SmileDirectClub is now the worst unicorn IPO of 2019, down nearly 60% from its debut

CNBC
by CNBC02
Shares of SmileDirectClub sank to a new all-time low Monday after a California bill regulating the dental industry was extended through 2024. Source link: Click here for more
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CNBC Business

Goldman evaluating role in China’s Megvii IPO after US blacklist

CNBC
by CNBC08
Sources had previously told Reuters Megvii Technology’s planned listing was scheduled for Hong Kong in the fourth quarter and might raise as much as $1 billion. Source link: Click here for more
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Reuters - Business

Goldman evaluating role in China’s Megvii IPO after U.S. blacklist

Reuters
by Reuters09
NEW YORK/HONG KONG (Reuters) – Goldman Sachs Group Inc said on Tuesday it was reviewing its involvement in Megvii Technology Ltd’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist. FILE PHOTO: The Goldman Sachs company logo is seen...
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Reuters - Business

Goldman Sachs evaluating involvement in Megvii IPO after U.S. action

Reuters
by Reuters05
FILE PHOTO: The Goldman Sachs company logo is seen in the company’s space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid NEW YORK (Reuters) – Goldman Sachs Group Inc said on Tuesday it is reviewing its involvement in Megvii...
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CNBC Business

Morgan Stanley, Goldman Sachs are reportedly poised to lead Airbnb’s direct listing

CNBC
by CNBC05
Short-term home rental company Airbnb is set to hire Morgan Stanley and Goldman Sachs as joint lead advisers on its planned stock market flotation next year. Source link: To read more click here
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CNBC Business

Bill Gurley direct listing event convinced Outreach CEO to consider it

CNBC
by CNBC09
For a company to go public through a direct listing successfully, conventional wisdom says it needs to have a big brand that consumers recognize and every investor knows. Spotify and Slack could go that route because they didn’t need bankers to explain their stories to money managers. But some big-name...
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CNBC Business

Uber closes at record low, worth less than $50 billion

CNBC
by CNBC03
Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., listens during a panel discussion at the Bloomberg Global Business Forum in New York, U.S., on Wednesday, Sept. 26, 2018. Mark Kauzlarich | Bloomberg | Getty Images Shares of Uber and Lyft fell to fresh lows on Tuesday, posting their lowest...
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Reuters - Business

WeWork throws in the towel on its ill-fated IPO

Reuters
by Reuters06
(Reuters) – WeWork’s parent The We Company said on Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer. FILE PHOTO: A man enters a WeWork co-working space in New York City, New York...
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Reuters - Business

WeWork throws in the towel on ill-fated IPO

Reuters
by Reuters010
(Reuters) – WeWork’s parent The We Company said on Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer. FILE PHOTO: A man enters a WeWork co-working space in New York City, New York...
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Reuters - Business

WeWork says will file to withdraw IPO

Reuters
by Reuters05
FILE PHOTO: A man enters a WeWork co-working space in New York City, New York U.S., January 8, 2019. REUTERS/Brendan McDermid/File Photo (Reuters) – WeWork’s parent The We Company said on Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup removed founder...
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CNBC Business

New IPOs face ‘reckoning’ over lofty private valuations

CNBC
by CNBC06
Lyft President John Zimmer and CEO Logan Green applaud as Lyft lists on the Nasdaq at an IPO event in Los Angeles March 29, 2019. Mike Blake | Reuters As 2019’s IPO class faces a reckoning on the public markets, there are now even more questions about why the private...
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Reuters - Business

Saudi Aramco plans to pay base dividend of $75 billion in 2020

Reuters
by Reuters04
FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed/File Photo DUBAI (Reuters) – State-owned Saudi Aramco plans to pay a base dividend of $75 billion in 2020, it said...
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CNBC Business

Companies could list in Hong Kong if US blocks investments in China

CNBC
by CNBC07
The New York Stock Exchange building is seen adorned with banners on September 19, 2014 as Chinese giant Alibaba makes its Wall Street debut. JEWEL SAMAD | AFP | Getty Images Companies could flock to list in Hong Kong or Chinese domestic markets if the U.S. places restrictions on investments...
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CNBC Business

Budweiser APAC opens at HK$27.40 per share, up 1.5% in its IPO

CNBC
by CNBC05
Budweiser beer products manufactured by Anheuser-Busch InBev NV sit on display during a news conference in Hong Kong, China, on Thursday, July 4, 2019. Kyle Lam | Bloomberg | Getty Images Budweiser APAC opened higher by nearly 1.5% in its initial public offering in Hong Kong on Monday in the second...
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Reuters - Business

SoftBank seeks help from its COO to turn WeWork around: Bloomberg

Reuters
by Reuters05
FILE PHOTO: The logo of SoftBank Group Corp is displayed at the SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo (Reuters) – Japan’s SoftBank Group Corp (9984.T) is seeking the help of its chief operating officer, Marcelo Claure, to turn around WeWork, Bloomberg reported on...
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