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Genealogy website files for confidential IPO

June 20, 2017 (Reuters) – Genealogy website Inc on Monday said it had confidentially submitted a draft registration statement on a proposed initial public offering (IPO) to the U.S. Securities and Exchange Commission. The Lehi, Utah-based company did not disclose the number of shares to be offered and the price range for the proposed offering. The website helps people discover their history by tracing their family generations. It also provides personal DNA testing. Last May, said in a statement that U.S. private equity fund Silver Lake and Singapore’s…

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Amazon Whole Foods IPO network Sruthi Shankar Tech Top News 

Blue Apron launches IPO roadshow under shadow of Amazon’s Whole Foods deal

June 19, 2017 By Lauren Hirsch and Sruthi Shankar (Reuters) – Blue Apron Holdings Inc began marketing an initial public offering (IPO) on Monday, as an already competitive meal-kit industry faces a potential threat from Inc’s plan to buy Whole Foods Market Inc. Blue Apron’s up to $510 million IPO will test whether the growth seen by the meal-kit industry’s greatest players will continue to whet investor appetite, even as costs to acquire new customers mount and possible new competitors with established distribution systems appear. Amazon, which said on…

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Angry Birds finland IPO media Tech Top News 

Angry Birds maker Rovio says IPO possible in future

June 16, 2017 HELSINKI (Reuters) – Finnish mobile game and animation studio Rovio, maker of the Angry Birds game, said it could list on the stock exchange in the future, while declining comment on a media report that China’s Tencent Holdings was looking to acquire the company. Technology news site The Information, citing unnamed sources, reported that Tencent was exploring a possible $3 billion bid for Rovio and also said Rovio may consider an IPO. “We and our shareholders regularly assess different alternatives to further develop Rovio,” the company said…

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Facebook IPO report Tech Top News Wall Street 

Snap sinks to IPO price for first time since market debut

June 15, 2017 By Noel Randewich SAN FRANCISCO (Reuters) – Shares of Snap Inc dropped 4.9 percent on Thursday to their initial public offering price, highlighting investors’ loss of confidence in the social media company that faces fierce competition from Facebook. The owner of Snapchat – a mobile app that lets users capture video and pictures that self-destruct after a few seconds – ended at $17.00, the price set in its March initial public offering that was the hottest U.S. technology listing in years. Snap climbed to $29.44 in the…

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Snap surges after Wall Street heavyweights reveal stakes

May 15, 2017 SAN FRANCISCO (Reuters) – Snap Inc jumped 8 percent on Monday and was on track for its third strongest day since the social media company’s initial public offering, boosted by filings showing several institutional investors had owned its shares. Leading investment firms Fidelity and BlackRock Inc owned Snap shares at the end of March, regulatory filings showed, providing a fresh vote of confidence for the Snapchat parent company. Its stock had plummeted 23 percent late on Wednesday after its debut quarterly earnings report disappointed investors. Snap’s high…

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Snap shares plummet as user growth slows, revenue misses

May 10, 2017 (Reuters) – Snap Inc shares plunged in after-hours trading on Wednesday after the parent of the popular disappearing-messaging app Snapchat reported slowing user growth and revenue that fell short of analyst estimates amid stiff competition from Facebook Inc . Shares of the company fell more than 24 percent to $17.39 after the first quarterly earnings report since Snap’s red-hot initial public offering in March. Snap said its daily active users (DAUs) rose 36.1 percent to 166 million in the first quarter from a year earlier, down from…

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Credit Suisse to raise $4 billion in rights issue, ditches Swiss unit IPO

April 26, 2017 ZURICH (Reuters) – Credit Suisse will raise around 4 billion Swiss francs ($4 billion) through a rights offering to catch up to European rivals on capital, ditching plans to float a minority stake in its Swiss banking unit. “We expect the capital increase will strengthen our pro forma look-through CET1 ratio to approximately 13.4 percent and our pro forma look-through tier 1 leverage ratio to approximately 5.1 percent, based on our end-1Q17 risk-weighted assets and leverage exposures,” Zurich-based Credit Suisse said in a statement on Wednesday. Switzerland’s…

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Telecoms and cable group Altice kicks off IPO process for U.S. arm

April 11, 2017 PARIS (Reuters) – Altice , the telecoms and cable holding company owned by billionaire Patrick Drahi, kicked off on Tuesday the formal process for the initial public offering (IPO) of its U.S. activities in New York. The debt-fueled group, whose division Altice USA was put together after acquiring Cablevision and Suddenlink Communications, aims to increase its financial firepower to buy assets in the broadband and media businesses in the country, it said in the document filed with the U.S. markets watchdog. The size of the shares sale…

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Weak crude oil stunts U.S. energy IPOs, boosts outlook for M&A

April 7, 2017 By Clara Denina and David French LONDON/NEW YORK (Reuters) – The stream of U.S. energy companies going public at the start of 2017 has dried up on concerns over the future direction of oil prices, but private buyers seeking mergers and acquisitions are ready to take advantage of the volatility to secure cheap deals. Texas-based FTS International and Select Energy Services are among six U.S. energy companies that filed for listings in the first quarter but delayed, even after receiving the green light from local regulators, Thomson…

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FTSE Russell to announce in July decision on adding Snap shares

April 4, 2017 By Heather Somerville and Ross Kerber SAN FRANCISCO (Reuters) – Index fund provider FTSE Russell expects to announce in July whether it will include in its indexes shares of Snap Inc and other companies whose share structure denies investors voting rights. FTSE Russell, which is part of the London Stock Exchange Group Plc, said on Monday that it will consult with stakeholders likely starting this month and conclude at the end of June. The results of the consultation will be announced in July. Snap, the parent company…

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