Markets News 

SEC filing: Tencent-backed Qutoutiao, a China-based content aggregator, files for a $300M IPO on Nasdaq and says it had 32.1M MAUs in the last quarter

“The amount of money a company says it plans to raise in its first IPO filing is usually a placeholder” writes Min Read for reuters.com. The filing did not reveal how many shares the company planned to sell or their expected price. Source: reuters.com Share This:

Read More
News 

Chinese content-aggregation app Qutoutiao files for IPO

“Qutoutiao Inc., a two-year-old Chinese content-aggregation app, filed for an U.S. initial public offering Friday afternoon” writes Jeremy C for marketwatch.com. Qutoutiao would join a wave of Chinese mobile apps that have gone public on the U.S. markets in 2018, a list that includes iQiyi Inc.The company said it would seek $300 million by selling American depositary shares, though that number is typically a placeholder to determine fees and will be updated in later filings.PDD, -0.21% The company hopes to list its ADSs on the Nasdaq exchange under the ticker…

Read More
Crypto News 

Bitcoin Buzzkill – High Times Drops…

“This press release was distributed in error as the Company will not be accepting Bitcoin as payment for shares” writes Cynthia Turcotte for livebitcoinnews.com. Last week, we reported that the cannabis advocacy and culture brand High Times announced that they would be accepting Bitcoin and Ethereum as payment options in the company’s IPO, making it the first such public offering to do so. Source: livebitcoinnews.com Share This:

Read More
News 

Uber’s Losses Continue in Its March Toward an I.P.O.

“Its I.P.O. is expected to be one of the biggest ever for a tech company” reports nytimes.com. Just over a year after Travis Kalanick was ousted as chief executive of Uber, the ride-hailing company released new financial results that showed continued growth and narrowing losses as it advances toward an initial public offering.Investors are closely scrutinizing Uber’s financials because the company is one of the world’s most highly valued private firms, at $62 billion, and is preparing to go public by the end of 2019. Source: nytimes.com Share This:

Read More
News Stocks 

Xiaomi shares close below IPO price, hitting a record low as major Chinese stocks fall

“The smartphone maker closed at 16.30 Hong Kong dollars ($2.08), below the 17.00 Hong Kong dollar price its stock had when it went public” writes Zhang Peng for cnbc.com. But Xiaomi’s Wednesday closing price represents a more than 24 percent decline from its record high close of 21.55 Hong Kong dollars on July 18.The last time it did this was on its first day of trade when shares closed at 16.80 Hong Kong dollars.It’s not clear if there was a single catalyst for the sell-off in Xiaomi shares, but it…

Read More
News 

The world’s largest maker of bitcoin mining chips is reportedly hoping to raise $18 billion …

“While Bitmain’s primary industry has been producing integrated circuit chips used to algorithmically “mine” cryptocurrencies like bitcoin, the company recently began to manufacture chip hardware for the artificial intelligence industry” writes Zo Bernard for businessinsider.com. In the first sixth months of 2018 alone, the company raked in $2.5 billion in revenue, according to Bloomberg.In June, Bloomberg reported that Wu was considering taking his company public and that Wu plans to position Bitmain as a ruthless competitor in the circuit chip industry. Source: businessinsider.com Share This:

Read More
News 

Trading, IPO surge bumps HKEX first-half net to record high

“Hong Kong’s stock exchange operator posted a rise in first-half net profit to an all-time high, thanks to record revenues from both trading and new listings” reports cnbc.com. The exchange also eased the requirements for Chinese companies listed overseas to do a secondary listing in Hong Kong.Trading fees for the first half were 68 percent higher than a year earlier, as trading volumes rose, and listing fees were 12 percent higher. Source: cnbc.com Share This:

Read More
News 

China Tower barely changed in Hong Kong debut

“Coming after a string of weak IPO debuts in Hong Kong, China Tower’s performance could impact upcoming listings such as Sinochem Energy” writes Midwest Communications Inc for 95kqds.com. HONG KONG (Reuters) – China Tower Corp’s shares opened virtually flat on their debut in Hong Kong on Wednesday, with escalating Sino-US trade tensions weighing on investor sentiment toward the world’s biggest initial public offering (IPO) in two years. Source: 95kqds.com Share This:

Read More
News 

Sonos will attempt to avoid the same fate suffered by fellow hardware companies FitBit and GoPro, whose share prices have dropped 80% since they went public

“Sonos’ IPO last week showed a promising forecast for the home audio system company, with shares eventually level ling out to about $19” writes Finanzen Net Gmbh for businessinsider.com. The company is now valued at $1.5 billion, but investors are concerned about Sonos’ long-term endurance as it gravitates toward producing products with longer shelf lives, which result in longer replacement cycles. Source: businessinsider.com Share This:

Read More
News 

The ‘Netflix of fitness’ looks to become a publicly traded stock as soon as next year

“The company sells $2,000 spinning bikes that are equipped with a screen to stream recorded and live classes that are filmed from its New York-based studio” writes Tae Kim for cnbc.com. It is a media company akin to a Netflix,” Peloton co-founder and CEO John Foley said Friday on CNBC’s “Squawk Box.”. Foley said the company will spend $45 million to develop “the best” digital streaming studio in midtown Manhattan. Source: cnbc.com Share This:

Read More