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China’s Xiaomi pulls mainland CDR offering until after HK IPO

“Xiaomi did not say on Tuesday when it would restart its CDR application process or why it was postponing the mainland offering” writes Midwest Communications Inc for 95kqds.com. China Securities Regulatory Commission said in a separate statement it would suspend the review of Xiaomi’s CDR application.Xiaomi Corp [IPO-XMGP.HK][XTC.UL], expected to raise around $10 billion in Hong Kong and mainland offerings, said it would apply to China’s securities regulator to postpone a review of its China depositary receipts (CDR) offering application. Source: 95kqds.com Share This:

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SurveyMonkey says it has confidentially registered for an IPO with the SEC; number of shares and pricing not disclosed

“(Reuters) – U.S. online survey company SurveyMonkey on Monday said it had confidentially registered for an initial public offering with the Securities and Exchange Commission, through its parent SVMK Inc” writes Reuters Editorial for reuters.com. The number of shares to be offered and the price range for the proposed offering have not yet been determined, the company said. In May, sources told Reuters that SurveyMonkey had hired investment bank JPMorgan Chase & Co (JPM.N) to help lead preparations for an IPO. The San Mateo, California-based company, which has around 3…

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Behind flashy IPO of Japan’s Mercari lies a thriving thrift economy

“But in Japan, it sheds light on a “thrift economy” for second-hand items, which is thriving even as the Bank of Japan tries to stoke inflation” writes Midwest Communications Inc for 95kqds.com. But Kentaro Arita, senior economist at Mizuho Research Institute, said that in the long run, Mercari would be a positive contributor to the economy. “Mercari and companies like it force bricks-and-mortar retailers to focus more on strengthening their brand and offering something unique to distinguish themselves,” said Arita, who said he uses Mercari. Source: 95kqds.com Share This:

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Xiaomi needs to destroy another industry, not just conquer phones, to be worth its IPO price tag

“But whether Xiaomi can achieve that $100 billion valuation depends on if it convinces investors that it can conquer more than the mobile-phone industry” writes Howard Yu for marketwatch.com. After all, for any company trying to become a $100 billion entity, it must not only outcompete the incumbents but reinvent the fundamentals of an industry.Its flagship smartphone stacks up against Apple’s iPhone X in features but is sold at half the price in China. Source: marketwatch.com Share This:

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Shares of European payment processor Adyen double in IPO

“Shares of European payment processor Adyen NV ADYEN, +0.00% doubled on their trading debut on the Euronext Amsterdam exchange on Wednesday” writes News Editor for marketwatch.com. EBAY, -0.10% payments, a move that relegates its fellow payments processor PayPal to a lesser role on the auction site.The stock hit an intraday high of €503.90 and was trading at €450.05 at last check.The shares, priced at 240 euros ($282) each, opened at €400. Source: marketwatch.com Share This:

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Sources: Chinese on-demand services provider Meituan Dianping plans IPO in Hong Kong to raise ~$6B at a $60B valuation, listing as soon as this month

“With the first filing in June, the actual listing of Meituan shares is likely around October, the people said” writes Crystal Tse for bloomberg.com. Smartphone maker Xiaomi Corp. is said to plan raising about $10 billion by selling shares in Hong Kong and mainland China.An IPO would give Meituan additional capital to compete in existing businesses and even to expand. Source: bloomberg.com Share This:

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Xiaomi posts $1 billion first quarter loss ahead of IPO

“Chinese smartphone maker Xiaomi recorded a first-quarter net loss of 7 billion yuan ($1.09 billion) ahead of its blockbuster initial public offering, according to a filing” reports ibtimes.co.in. That compares with a net loss of 43.89 billion yuan for the whole of 2017, according to its draft prospectus for what is expected to be the first Chinese depository receipts (CDR) offering. Source: ibtimes.co.in Share This:

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Workday snaps up Adaptive Insights days before planned IPO

“Workday expects all existing Adaptive Insights employees to join the company and CEO Tom Bogan to stay on as head of the business unit” writes Mike Wheatley for siliconangle.com. Corporate performance management is a hot new business process-focused discipline that enables organizations to consolidate forecasts, operational plans and results centrally to gain better insights on the business. Source: siliconangle.com Share This:

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