#Equity Financing
BlackRock stock buybacks continue though CEO warned against repurchases
NEW YORK The world’s largest asset manager BlackRock Inc (BLK.N) has been buying roughly $275 million of its shares every quarter, a practice chief executive Larry Fink said could continue even though he has previously warned about the downside of share repurc... More »
Line, the biggest tech IPO of the year, struggles to show its growth plan can work
TOKYO In delaying its IPO by two years, Japanese messaging app company Line Corp bought time to correct weak financial reporting controls, work on its business plan, bolster staffing – and left billions of dollars on the table as its valuation shriveled. Line’... More »
SoftBank adds to Alibaba sale, bringing total to $10 billion
TOKYO SoftBank Group Corp (9984.T) said on Friday it was selling a further $1.1 billion of its shares in Alibaba Group Holding Ltd (BABA.N), bringing the total it has sold in the Chinese e-commerce company to $10 billion. Separately, SoftBank agreed to sell mo... More »
Facebook’s Zuckerberg may lose majority voting control if he exits
Facebook Inc’s (FB.O) board has proposed removing Mark Zuckerberg’s majority voting control in the event of the social media giant’s chief executive and founder deciding to exit management at some point in future. In a proxy filing with the U.S. Securities and... More »
Chinese ride-hailing giant Didi plans U.S. IPO in 2018: source
Ride-hailing service Didi Chuxing, Uber Technologies Inc’s main rival in China, is working toward an initial public offering in the United States that would likely take place in 2018, a person with knowledge of the plan said on Monday. The Apple Inc-backed fir... More »
Dan Loeb’s Third Point adds 700,000 shares of Alphabet: filing
NEW YORK Dan Loeb’s hedge fund Third Point LLC bought more than a half a million Class A share position of Google parent Alphabet Inc, according to a Securities and Exchange Commission filing late Friday. Third Point took a new stake of 700,000 Alphabet shares... More »
Saudi Aramco says in final stages of preparing IPO options
DHAHRAN Saudi Aramco is in the final stages of preparing options for its initial public offer of shares before presenting the options soon to its Supreme Council for consideration, chief executive Amin Nasser said on Tuesday. Aramco has a huge team working on ... More »
Dell SecureWorks, 2016’s first tech IPO, fizzles on Wall Street
The lackluster market debut of SecureWorks Corp, the cyber unit of Dell Inc, failed to rally the battered technology U.S. IPO market on Friday, a reminder that Wall Street does not welcome cash-burning companies without profits. “I don’t think it encourages an... More »
Chat app Line CEO says IPO still an option
URAYASU, Japan The head of messaging app service operator Line Corp said on Thursday that it could still seek an initial public offering (IPO), although it put plans for a listing on hold in August. “A listing is still an option,” Chief Executive Officer Takes... More »
U.S. investor group urges halt to dual-class structures in IPOs
BOSTON An influential group representing top U.S. pension funds on Wednesday urged companies that go public to stop using a maneuver that gives insiders extra control and makes other investors second-class corporate citizens. Members of the Council of Institut... More »
Cyber security startups face funding drought
SAN FRANCISCO/BOSTON The U.S. cyber security industry, once one of the hottest targets for venture capitalists, is now grappling with a funding slump that has forced some startups to sell themselves or cut spending. Amid widespread concerns about cyber attacks... More »
CDC expected to declare end to Chipotle’s E.coli outbreak as soon as Monday: WSJ
The E. coli outbreak that affected dozens of Chipotle Mexican Grill customers in nine states last year is expected to be declared over as soon as Monday, the Wall Street Journal reported, citing people familiar with the government’s investigation. Investigator... More »
Investor Paulson’s personal assets to back loan to hedge fund
BOSTON Billionaire investor John Paulson has put up part of his personal fortune as collateral to back a credit line for his $18 billion hedge fund Paulson & Co., a government filing shows. According to a UCC Financing Statement filed in New York on Dec. 18, t... More »
Foursquare CEO steps down- company raises $45 million in funding
Foursquare’s chief executive, Dennis Crowley, is stepping down and will be succeeded by Jeff Glueck, the company’s current chief operating officer. Foursquare, which makes apps that helps users find restaurants and stores and “check” into them, also raised $45... More »
Uber pushes into public transit with new app partnership
SAN FRANCISCO Transportation technology company TransLoc announced on Monday a partnership with Uber, marking a significant advancement in the ride-hailing company’s effort to ally itself with public transit agencies. TransLoc, which builds technology products... More »
Citigroup retains top spot in 2015 U.S. CLO arranger league table
NEW YORK Citigroup retained its market-leading position at the top of the US Collateralized Loan Obligation (CLO) arranger league table in 2015 for volume and deal count while issuance fell 20% ahead of looming new regulations. Citigroup increased its share of... More »
Ride-hailing firm Lyft plans to raise up to $1 billion in financing: Bloomberg
Ride-hailing app Lyft Inc, Uber Technologies Inc’s biggest competition in the United States, expects to raise up to $1 billion in a new round of financing, Bloomberg reported citing a Delaware state filing. The document filed by Lyft on Friday evening did not ... More »
Dell’s cybersecurity unit SecureWorks files for IPO
Dell Inc’s cybersecurity unit SecureWorks Corp filed for an initial public offering with U.S. regulators on Thursday. SecureWorks named Bank of America Merrill Lynch, Morgan Stanley, Goldman Sachs & Co and JPMorgan among the underwriters to the IPO, according ... More »
Yahoo board in final talks on future of company
SAN FRANCISCO Yahoo Inc’s board of directors on Friday is in the third and final day of meetings that could decide the future of one of Silicon Valley’s most prominent but troubled companies. One option on the table for the nine board members is whether to sel... More »
Exclusive: Lazard works with Sanofi on $12.7 billion animal health unit deal – sources
LONDON/NEW YORK/FRANKFURT Investment bank Lazard is working with Sanofi’s management to prepare a sale or listing of its Merial animal health unit, aiming to land the leading advisory job for the deal, which could value the business at up 12 billion euros ($12... More »
Snapchat’s lackluster ad business threatens $16 billion valuation
SAN FRANCISCO Snapchat, maker of a free mobile app that lets users send videos and messages that disappear in seconds, is struggling to gain traction with advertisers, fuelling investor concern that its $16 billion valuation isn’t justified by a business that ... More »
John Malone to restructure Liberty Media, Liberty Interactive
Media mogul John Malone, known for striking complex deals and running companies with intricate structures, is restructuring two companies he controls using tracking stocks and spinoffs. Liberty Interactive Corp (QVCA.O), which mainly houses Malone’s e-commerce... More »
MSCI adds Alibaba, other U.S.-listed China shares to indexes
NEW YORK MSCI will add Alibaba Group, Baidu.com and a dozen other overseas-listed Chinese shares to its emerging market index beginning on Dec. 1, in a move that is expected to draw billions of dollars into the stocks and make MSCI the first indexer to include... More »
Square IPO priced at 30 percent discount to last private funding
SAN FRANCISCOMobile payments company Square Inc set a price range on Friday for its highly anticipated initial public offering that values the company at up to $4.2 billion, a 30 percent discount to its valuation at its last fundraising round. San Francisco-ba... More »
Dorsey’s Twitter stock gift well-timed to stem brain drain: recruiters
SAN FRANCISCO Twitter (TWTR.N) Chief Executive Jack Dorsey’s novel move to give a third of his company stock to an employee equity pool is a smart gesture to restore confidence in a company that lost its way, according to recruiting and compensation experts. B... More »
Dell to use VMware to help pay for EMC deal: sources
Dell Inc is planning to use equity in cloud software company VMware Inc (VMW.N) to help pay for its acquisition of EMC Corp (EMC.N) in a deal valuing the data storage company at more than $55 billion, according to people familiar with the matter. While the bul... More »
Credit Suisse set to launch ‘substantial’ capital raising: FT
ZURICH Swiss bank Credit Suisse plans to tap investors for a “substantial” capital raising to fund a restructuring of the bank under new Chief Executive Tidjane Thiam, the Financial Times said on Thursday. Since taking charge of Credit Suisse in July, Thiam ha... More »
No China fears here: U.S. funds bet big on IMAX’s giant screens
NEW YORK U.S. fund managers, hoping that a bit of Hollywood magic goes a long way in China, have been rushing to invest in IMAX Corp, best known for enormous movie screens. Prospects for growth in China, alongside upcoming releases of expected blockbusters tha... More »
Nelson Peltz’s Trian Fund takes $2.5 billion stake in GE: WSJ
Nelson Peltz’s Trian Fund Management has accumulated $2.5 billion in General Electric (GE.N) shares since May — a roughly 1 percent stake — making it one of the company’s top 10 shareholders, the Wall Street Journal reported. In a white paper Trian plans to di... More »
Global regulators finalize new capital rule for big insurers
LONDON The world’s nine biggest insurance companies will have to hold more capital under new rules just finalised by global regulators that aim to prevent taxpayer bailouts of the industry in a crisis. Regulators decided to look at the multi-trillion dollar in... More »
RBC leads rise in Canadian equity issues despite choppy markets
TORONTO Royal Bank of Canada led a rise in the value of Canadian equity issues for the first nine months of 2015, overcoming a slowdown in the third quarter due to increased choppiness in equity markets. Equity financings rose to C$36 billion ($27.23 billion) ... More »
Square could take hit on IPO with Jack Dorsey leading Twitter
SAN FRANCISCO The much anticipated initial public offering from Silicon Valley payments company Square could take a price hit if its chief executive, Jack Dorsey, takes a second and possibly more demanding job: running Twitter. A distracted CEO juggling two co... More »
Tesco sells South Korean unit to MBK-led group for $6.1 billion
LONDON Britain’s Tesco (TSCO.L) has agreed to sell its South Korean unit to a group led by private equity firm MBK Partners for $6.1 billion, it said on Monday, in its first major disposal since it hit financial difficulties. Seeking to raise funds to revitali... More »
Venture capital cash surfers may see waves recede in market turmoil
SAN FRANCISCO The waves of cash surfed relentlessly by some of Silicon Valley’s largest venture-backed businesses are showing signs of receding amid concern the companies may already worth more than they’re likely to be valued once they finally go public. Inve... More »
Ashley Madison courted several buyers, landed none before attack
TORONTO The owner of adultery website Ashley Madison had already been struggling to sell itself or raise funds for at least three years before the publication of details about its members, according to internal documents and emails also released by hackers as ... More »
U.S. SNI bought nearly all remaining shares in Polish TVN
WARSAW U.S. media group Scripps Networks Interactive (SNI.N) bought nearly all remaining shares in Polish broadcaster TVN TVN.WA, planning to delist the company from the Warsaw bourse GPW.WA, a brokerage running the deal said on Thursday. SNI, which already ow... More »
Berkshire profit falls 37 percent on investment, insurance slump
Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) (BRKb.N) said on Friday its second-quarter profit fell 37 percent, reflecting a significant decline in investment gains and an underwriting loss from insurance operations, which include Geico. Net income for the... More »
Lloyds to set out dividend plan ahead of retail sale
LONDON Lloyds (LLOY.L) is due to set out its dividend plans next week, including how and when it might return surplus capital to shareholders, making the stock more attractive ahead of a planned sale of some of the government’s shares to retail investors, indu... More »
China stocks fall again despite support measures
SHANGHAI Chinese stocks fell on Tuesday, taking little comfort from a slew of support measures unleashed by Beijing in recent days, and unnerved by Chinese Premier Li Keqiang’s failure to mention the market chaos in a statement on the economy. Before the marke... More »
s4.reutersmedia.net/resources_v2/images/rcom-default.pngs4.reutersmedia.net/resources_v2/images/rcom-default.pngMobile payment startup Square plans sale as losses widen: WSJ
Square Inc has been in talks with several rivals for a possible sale as the mobile payments startup looks to stem widening losses and dwindling cash, the Wall Street Journal reported, citing people familiar with the matter. More »
s1.reutersmedia.net/resources/r/?m=02&d=20140416&t=2&i=887514724&w=&fh=545px&fw=&ll=&pl=&sq=&r=CBREA3F1C7A00s1.reutersmedia.net/resources/r/?m=02&d=20140416&t=2&i=887514724&w=&fh=545px&fw=&ll=&pl=&sq=&r=CBREA3F1C7A00BlackBerry`s meltdown sparks start-up boom in Canada`s Silicon Valley
Major technology companies like Google and BlackBerry provide mentoring services to companies within Communitech in Kitchener’s historic Tannery District in Kitchener, Ontario, March 18, 2014. REUTERS/Euan Rocha The troubles at BlackBerry Ltd, which fired more... More »
BlackBerry`s meltdown sparks start-up boom in Canada`s Silicon Valley
Major technology companies like Google and BlackBerry provide mentoring services to companies within Communitech in Kitchener’s historic Tannery District in Kitchener, Ontario, March 18, 2014. REUTERS/Euan Rocha The troubles at BlackBerry Ltd, which fired more... More »
