Ey ipo market

The 2019 IPO wave, which is on track to raise even more money than the record year of 2000, is likely to avoid the disastrous stock meltdown seen after the infamous 2000 Dotcom Bubble , according to several experts. While many are concerned about large losses at companies such as Lyft Inc., the first of the LUPA companies expected to go public this year, a meltdown is unlikely to occur for several key reasons, per the Wall Street Journal . Why IPOs of 2019 Will Survive (Comparison of 2019 IPOs vs. 2000 IPOs) Company Age: 12 years vs. 4-5 years Company Size in Annual Sales: $174 million vs. $12 million Source: IPO Expert Jay Ritter, per WSJ Older, Bigger In 1999, 547 companies hit the public markets, raking in a total of $107.9 billion, per Dealogic. Now, bankers who arrange IPOs say 2019 may surpass that total, with more money raised by fewer but bigger names like Pinterest Inc., Slack Technologies Inc., Uber Technologies Inc. and Postmates Inc. These … [Read more...] about Why IPOs of 2019 Won’t Crash Like 2000 Dotcom Bubble

- A + A SINGAPORE (June 27): Mirxes Pte, a Singapore-based biotechnology startup, is weighing an initial public offering in the city-state next year that could raise about US$300 million, according to people with knowledge of the matter. The company is in discussions with bankers about a potential offering that could value it at over US$1 billion, said the people, who asked not to be identified as the process is private. Deliberations are ongoing and Mirxes could decide not to proceed with the offering, said the people. Calls and emails to Mirxes seeking comment were not returned. Any listing would help to further stimulate the IPO market in Singapore. First-time share sales in the city-state totaled US$348 million so far this year, up from US$242 million in the same period last year, according to data compiled by Bloomberg . Founded in 2014 as a spinoff from Singapore’s Agency for Science, Technology and Research, also known as A*STAR, Mirxes focuses on early … [Read more...] about Biotech startup Mirxes said to weigh US$300 mil Singapore IPO

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A GIVEN that investors accept higher valuations for technology companies going public in the US, aviation analysts say it is not surprising that Capital A Bhd (CapA) is considering listing its low-cost AirAsia airline and digital businesses on the New York Stock Exchange. They believe, however, that now is not the right time. On June 12, the Financial Times reported executive director and CEO Tan Sri Tony Fernandes as saying that CapA was considering two separate listings in the US, one for AirAsia “sometime next year”, followed by its super app, which offers services from travel to takeaways. A senior investment banker who asked not to be named says while there is a rebound in air travel amid the easing of travel restrictions and rising demand — a trend experts term “revenge travel” — airline stocks are not fetching the kind of valuations that Fernandes … [Read more...] about Capital A could fetch higher valuations in US markets

- A + A KUALA LUMPUR (June 28): One of the Big Four accounting firms, Ernst & Young (EY), is investing more than US$1 billion in a next generation assurance technology platform to provide high quality audits and to respond rapidly to changing expectations from regulators, governments, standard setters, audit committees and boards. In a statement on Tuesday (June 28), EY said that the four-year investment is enabled by a wider US$2.5 billion programme announced by the EY organisation in September 2021. The plan includes technology investment with a strong focus on artificial intelligence, trusted data fabric and disruptive technologies, as well as the wider EY ecosystem of strategic alliances. "The investment will support the integration of existing EY Assurance technologies into one seamless platform that combines the strengths of the organisation's leading-class global audit platforms and leverages advanced technologies from EY alliance partners to power a new … [Read more...] about EY invests over US$1 bil in next generation technology platform for assurance services

Naveen Kulkarni of Axis Securities The sense on the Street is that India's banking shares could be a big mover over the next 12 months, as all the positives start getting priced in. In conversation with Moneycontrol, Naveen Kulkarni, Chief Investment Officer at Axis Securities also believes that the picture for Indian IT sector 'remains quite complex' at this juncture. He advices investors to be selective, and also to wait for another quarter to understand the changing trends here. Here's the full interaction. Do you think the new-age tech companies will delay their IPO plans, especially after already-listed new-age companies were hit quite badly in the recent turmoil and corrected more than others? The market has changed for technology companies after the significant correction seen on the Nasdaq. As central bankers around the world try to manage the liquidity - which is fuelling global inflation - the cost of funds will continue to rise. This will have the most … [Read more...] about Daily Voice | FII selling may now abate, banks ripe for up move over 12 months

"It will be early to assume that the full impact of headwinds (that confront the global and Indian economy currently) are priced in," says Dhananjay Sinha, Managing Director and Head Strategist and Economist - Equity Research at JM Financial Institutional Securities. Gauging the markets using this monitor, JM Financial sees that 30-35 percent of the characteristics of past capitulation are visible as of now, leaving further scope for adjustments. Hence they expect commodity prices to correct further and crude would be the last to collapse, giving rise to a scenario of market capitulation. Thus, the markets may still be afar from a deep value situation, Sinha shares in an interview with Moneycontrol . Excerpts from the interview: Do you think the market fully priced in all these risk factors? Do you see any other risk that the market hasn't factored in yet? While it is true that the market now knows the various risks that confront the global and Indian economy, it will … [Read more...] about Daily Voice | More correction likely as these four risk factors not priced in yet, says Dhananjay Sinha of JM Financial

DoorDash Inc. ( DASH ) opened for trading on the NYSE at 12:43 p.m. on Wednesday, Dec. 9, coming public at $182. The initial public offering (IPO) was priced at $102, but strong demand induced lead underwriters The Goldman Sachs Group, Inc. ( GS ) and JPMorgan Chase & Co. ( JPM ) to offer a higher price. The close at $189.51 translates into a market valuation of $60.2 billion, or about twice as high as rival Uber Technologies, Inc. ( UBER ) on a revenue basis. Key Takeaways DoorDash came public at $182 on Wednesday and closed at $189.51. The IPO opening print can be used to define support or resistance , depending on short-term momentum. This magnetic price level can come into play months or years after a company comes public. The company booked $1.9 billion in revenue in the first nine months of 2020, more than triple the $587 million earned in the same period in 2019. It posted a net loss of $149 million, much lower than last year’s $533 million … [Read more...] about DoorDash (DASH) Opening Print Could Offer Profitable Trades

Representative image Small Fast Moving Consumer Goods (FMCG) companies that operate at regional levels are struggling in the face of unprecedented inflation across categories. Several of these companies have witnessed a slump in sales, according to data from Kantar, the data analytics and brand consulting firm, despite the overall categories posting growth. For instance, Ponvandu and Oorvashi, noted South Indian detergent bar brands, lost 17 percent and 8 percent of their sales by volume, respectively, in February, March and April compared to the same period last year, shows data from Kantar. The overall detergent bar category, however, grew 2.3 percent in the period, according to Kantar. Other local brands are in a similar situation. (As shown below) Close Small brands ideally are expected to gain out of inflation, which typically prompts consumer to switch to smaller and cheaper versions when confronted with price hikes in products of daily use. The … [Read more...] about Small FMCG companies struggle despite consumers switching to cheaper products

Charles Li, CEO of Hong Kong Exchanges and Clearing Limited, speaks at the Sandler O'Neill + Partners Global Exchange and Brokerage Conference in New York - A + A HONG KONG (June 27): In 1997, the world watched as Britain returned Hong Kong to Chinese rule, with some pessimistic or wary about the outlook for the city and its role in the global financial system. Twenty-five years later, Hong Kong has so far retained its status as a financial hub, and some of the city's top executives are banking on a bright future as the territory remains a crucial springboard for investment into mainland China. Charles Li, former chief executive of bourse operator Hong Kong Exchanges and Clearing (HKEX) and founder of microfinance platform Micro Connect, said that although he believes the next 25 years will be "very different", he's optimistic. "I'm convinced that the overall prosperity of Hong Kong will remain as strong as before because Hong Kong retains its value to both … [Read more...] about Hong Kong’s top finance executives bank on city to thrive as gateway to China

Sumeet Mehta and Smita Deorah, founders of LEAD School With students making their way back to physical classes, school edtech is witnessing a major boom and opening up opportunities to double down on growth and innovation plans, according to Sumeet Mehta, Chief Executive Officer (CEO) and co-founder of LEAD School. “When consumer ed-tech zigs, school ed-tech zags,” said Mehta in a recent episode of Bits to Billions. According to Mehta, trends in consumer ed-tech are not relevant in school ed-tech. He said, “Our trajectory is inverse to what is happening in consumer ed-tech. On the contrary, I think it's a great opportunity for companies like ours to really double down on helping students overcome the last two years of the learning gap.” School Ed-tech defying larger Ed-tech trends Mehta’s comments follow a series of layoffs, shutdowns, and restructuring in the consumer edtech sector with companies such as Unacademy, Vedantu and so on, letting go of employees in … [Read more...] about School-based startups defying larger edtech trends; opportunity to double down on growth: LEAD co-founder Sumeet Mehta