Openpay shares drop first day on the ASX, While Latitude and Mastercard partner to create BNPL offering
Buy now pay later platform Openpay dropped 17 per cent on its first day listed on the ASX. According to the Sydney Morning Herald, the stock fell from the issue price of $1.60 to $1.35 half an hour after listing. It finished on Monday down 17.5 per cent at $1.32.
Overnight, Uber delivered its first quarterly results since going public earlier this month. The ride hailing giant lost more than $US1 billion in the first three months of 2019 as revenue growth continued to slow. Sign up for Which-50’s Irregular Insights newsletter Nominate today for the Which-50 Digital Experience Awards.
Uber shares closed at $41.57 after their first day of trading, down almost 8 per cent from its listing price and valuing the company at US$69.7 billion. The company previously set a target of $44-$50 per share and on Thursday night priced its IPO at $45, towards the lower end
Overnight, ridesharing giant Uber made its S1 filing as part of its initial public offering, revealing the company made US$10 billion worth of operating losses since 2016. It also warned more operating losses are expected and it “may not achieve profitability”. The filing suggests Uber is pitching itself to investors
Koch Equity Development (KED) and Golden Gate Capital have invested $1.5 billion in cloud ERP provider Infor, ahead of a potential IPO later this year. The capital builds on KED’s investment of more than $2 billion in early 2017, and represents an important milestone as Infor considers a potential IPO
Uber has confidentially filed for an IPO over the weekend, after its rival Lyft also filed late last week. According to the Wall Street Journal, both companies filed their S-1 paperwork to the US Securities and Exchange Commission (SEC) with their shares to go public early next year. The two companies
The operator of Switzerland’s stock exchange is backing distributed ledger technology, arguing that — in the right hands — the technology is ready to earn the trust of the investment community. In July the Swiss Stock Exchange (SIX) announced plans to launch a blockchain-based exchange for the trading, settlement and
The shares of Snap will start to trade on the US markets today. The IPO price of $17 per share values the company at about $24B. Based on interest in the shares (they were ten times over-subscribed), the value of the shares, and the company, are likely to rise substantially
Snapchat’s parent company, Snap, is preparing for an intial public offering (IPO). But it seems that ordinary shareholders will not have voting rights. Shares in the newly public Snap will either be dual-class or multi-class. A dual-class structure creates two classes of shares, each with different voting rights; a multi-class
Still think the Twitter IPO was a good bet? Twitter, as Statista once famously observed – has a quitter problem and that has serious implications for its growth potential. And for its share price. Since peaking at $73.31 on boxing day last year Twitter has lost a third of its value