It was beginning to look like Chinese daily deals and ecommerce company Wowo (called 55tuan in China) was never going to achieve its IPO. Initial plans to launch in February were delayed over and over again. When we last checked in with the company, it was due to debut on April 7 – yet another deadline the company missed. But today, finally, Wowo has listed.
Line, the chat app and gaming platform which is becoming a lifestyle portal, is restarting preparations for an IPO. The Nikkei is reporting that the company reapplied to the Tokyo Stock Exchange to begin the procedure. A 2015 IPO is possible, but not guaranteed. The move is new CEO Takeshi Idezawa’s first order of business. Yesterday, he officially took over the top spot. No, it was not an April Fool’s joke, but a transition months in the making.
Chinese ecommerce and daily deals site Wowo (also known as 55tuan) is having a bit of a bumpy ride on its way to the US market. Wowo has been planning a US IPO for some time now, and was originally scheduled to list on the NASDAQ under the tag WOWO back in February. But that date came and went without an IPO. So did a subsequent date in March. Now, the company is reportedly scheduled for an April 1 IPO. But there are signs that might not come off either.
Just a week after Gumi confirmed that its South Korean operation was being investigated for alleged embezzlement, the embattled Japanese gaming company is bracing for layoffs. According to TechCrunch Japan, Gumi announced today that it will solicit “voluntary retirement” from 100 staff at both Gumi (Tokyo) and development center Gumi West (Fukuoka). The firm’s justification for the move is that the skill set of some employees no longer matches the company’s needs.
Japan’s news app war continues and Gunosy has won the latest round. In a filing approved by the Tokyo Stock Exchange today, Gunosy confirms that it will IPO on April 28. The startup is looking to raise JPY 5.32 billion (US$44.5 million) and expects an initial market cap of JPY 31.4 billion (US$263 million). Both figures are subject to change as the number of shares to be issued might be adjusted.
MUMBAI: India’s market regulator is planning rule changes that will make it easier for homegrown startups to list their shares on local bourses, sources involved in the process said, helping domestic investors to bet on the country’s booming online economy. The Securities and Exchange Board of India (SEBI) is considering easing rules on mandatory disclosure for the draft prospectuses of internet-based companies, the sources said.
IPOs bring champagne showers – and increased financial oversight. Gumi, the gaming firm that had been left for dead but regrouped and surged to a nearly billion dollar IPO, is getting a first-hand lesson in the consequences of that oversight. The company announced today that is is revising its guidance for the fiscal year ending April 30. Instead of a JPY 1.27 billion (US$10.6 million) profit, the firm will face a JPY 600 million (US$5 million) loss.
53,763,000 units are offered to the public. With a market capitalisation at listing of approximately S$821.1 million, Keppel DC REIT will be the first data centre real estate investment trust (“REIT”) to be listed in Asia, making it a milestone listing on the SGX-ST. According to a media release by Keppel, as the first data centre REIT listed in Asia, Keppel DC REIT will give investors a unique opportunity to invest, through the IPO Portfolio, in the rising demand for data centres,,,
SINGAPORE – The initial public offer (IPO) of Keppel DC Reit was launched on Friday. It is Asia’s first Reit with a portfolio focusing on data centres. The IPO was launched amid strong market anticipation that its eight data centres in Singapore, Malaysia, Australia, the UK, Ireland and the Netherlands will ride the global growth in demand for specialised facilities to host cloud computing and e-commerce services.
The first real estate trust comprising data centres will be listed here next month, promising to be one of the largest and most highly-anticipated initial public offerings (IPOs) of the year. Keppel Telecommunications and Transportation (Keppel T&T) aims to list Keppel DC Reit on Dec 12 once it has won shareholder backing at an extraordinary general meeting on Nov 25. The offering is estimated at $811 million, according to a circular released to the bourse yesterday.
Arne Kjetil Lian, SVP Group Strategy & Portfolio Development at Norway’s Telenor, told leaders at the Ministry of Information and Communication (MoIC) that his company wanted to take a controlling stake and join in the governance of Mobifone to introduce their own services in the Vietnamese market. M.A. Zaman, president and CEO of Comvik International Vietnam AB, also expressed to the ministry his firm’s hope to invest in MobiFone. Zaman said Comvik had supported Mobifone between 1990 and 2005 and was better positioned than other candidates to engage in successful co-operation with the local telecom.
By now you know that Alibaba is big. Like, third biggest internet company in the world big. With the champagne bottles emptied following its historic IPO, expectations are high that Alibaba will move quickly and forcefully into a phase of global expansion . But what does that mean for startups in Southeast Asia? Alibaba is no stranger to investing. According to The Wall Street Journal , Alibaba has been atypically active in 2014, joining in funding rounds totalling over US$1 billion.
The technology world has been abuzz with news of Alibaba’s record-setting IPO last Friday. The IPO showcased the potential of China’s tech magnates, but investors knew it would not be the last blockbuster IPO of 2014. Line, the messaging app with 490 million registered users and an ecommerce arm of its own, was expecting to go public as well. Having built up an empire of cute, the company had prepared public filings in both Japan and America. Line never revealed if it intended to do a double filing or ultimately pick one country over the other.
The ringing of the morning bell of NYSE on 19th September by Aibaba Group Holding Ltd. (NYSE:BABA), the Chinese e-commerce giant marked the launch of biggest Initial Public Offering (IPO) in US history. The company raised $21.8 billion on the first day of its trade increasing its market capital value to $231 billion and putting it among the top 20 biggest companies by market cap in the US. Alibaba far beat out its tech peers like Facebook Inc. (NASDAQ:FB) whose first day earning was $16 billion and Google Inc. (NASDAQ:GOOGL) whose 2004 IPO launch just raised $1.67 billion.
Media have been opining and hyping Alibaba’s USD21.8 billion IPO impact on the global Internet ecosystem and how the company plans to invest its new wealth. Unlike most IPOs, many early investors in Alibaba will have no lock-up period and they can sell their shares today. Though CEO Jack Ma pledged that customers are more important than investors to Alibaba’s growth, this uncommon nod towards investors may instead be a bellwether to how insiders view Alibaba’s future.
NEW YORK: The Dow on Friday (Sep 19) notched its third straight record high in mixed Wall Street trade as shares of Chinese Internet company Alibaba soared following a record initial public offering. The Dow Jones Industrial Average advanced 13.75 points (0.08 per cent) to close at 17,279.74. The S&P 500 finished down 0.96 of a point (0.05 per cent) at 2,010.40, narrowly missing a record high a day after setting one. The tech-rich Nasdaq Composite Index fell 13.64 (0.30 per cent) to 4,579.79.
15 years after first starting up, China’s top ecommerce company, Alibaba (NYSE:BABA), today listed on the New York Stock Exchange in a huge, record-breaking IPO. After earlier pegging its shares at $68 a piece, Alibaba actually debuted – just over two hours after markets opened – at $92.70 per share. The shares nearly hit $100 in the opening few minutes before settling down to $94 at the time of publishing.
With trading starting on the New York Stock Exchange later on Friday, the share sale will raise $21.8bn, making it one of the largest flotations ever. It values Alibaba, which accounts for 80% of all online retail sales in China, at $167.6bn. That value surpasses such corporate titans as Walt Disney and Boeing. The final amount raised from the sale could change, depending on the final allotment allocation.
Alibaba will be the third-biggest internet company in the world by market cap if analysts’ estimates hold up. It will surpass both US ecommerce giant Amazon and Chinese rival Tencent. Chinese companies take up four of the top 10 spots and make up three of the top six. Baidu (NASDAQ:BIDU) sits at number six, while JD (NASDAQ:JD) rounds out the top 10. Google (NASDAQ:GOOGL) leads by a long shot with nearly twice the market cap as runner up Facebook (NASDAQ:FB).
In the run-up to Alibaba’s earth-shaking IPO, the ecommerce titan has been all but silent during its customary “quiet period.” But 2014 as a whole has been a busy year for the firm. Alibaba has invested in or bought outright multiple companies both at home and abroad, spending so much money that some have referred to 2014 thus far as Alibaba’s “bachelor party.”