IPO Roundup June 16, 2016


Investigations Into Lotte Group Derail Hotel Unit’s $4.5 Billion IPO Plan – WSJ

A widening probe into Lotte Group of South Korea has plunged the country’s fifth-largest conglomerate deeper into crisis, derailing an initial public offering at the heart of a closely watched corporate restructuring. 


Line’s IPO filing shows the Asian chat app is going public past its peak — Quartz

Line, a messaging app popular in Asia, passed an important landmark on June 9—they filed a F1 with the US Securities and Exchange Commission, ahead of a July public offering. 


Supercell boss vows Clash of Clans maker will never consider IPO

The boss of one of the most successful games developers in the world has permanently ruled out an IPO, claiming that it would squash his company’s ability to be creative and take risks. 


Blue Coat to Sell Itself to Symantec, Abandoning I.P.O. Plans – The New York Times

Blue Coat Systems seemed poised to begin life as a public company, after selling itself to a private equity firm last year. Now, the cybersecurity software company plans to sell itself to Symantec instead. 


Guvera slams IPO ‘misreporting’

Australian music streaming service Guvera says it’s committed to its planned $100 million raising and stock market float, despite intense criticism being levelled at the technology company in recent weeks. 


Twilio’s IPO: Hot or Not?

In recent articles, I’ve detailed the sorry state of the IPO marketthis year, and the hope that cloud communications provider Twilio(proposed ticker TWLO) could jumpstart activity. 


RBS head Brijesh Mehra to join IPO bound RBL Bank – The Economic Times

MUMBAI: Royal Bank of Scotland’s (RBS) India head Brijesh Mehra will join private sector IPO-bound RBL Bank as head of corporate and institutional banking, which includes large companies, public sector units and financial institutions.


A Fine Line for IPO Revival – Bloomberg Gadfly

The last time the initial public offering market got excited, an Asian internet company called Alibaba was coming to New York. 


Lotte Group Says ‘Difficult’ to Carry Out Hotel IPO Procedures – Bloomberg

Lotte Group said it has become difficult for its hotel unit to carry out steps needed for an initial share sale, hinting that listing of Hotel Lotte Co. could be indefinitely delayed as investigation into the group widens. 


Twilio expects to raise up to $161 million in IPO – MarketWatch

Twilio Inc. TWLO, +0.00% said in a filing Monday that it expects its initial public offering of 11.5 million shares to price between $12 and $14 a share. At the top of that range, the cloud communications company would raise up to $161 million, not including options granted to the underwriters to buy additional shares. Goldman Sachs and J.P. Morgan are the lead underwriters. 


Is Snapchat Preparing for an I.P.O.? | Vanity Fair

When Snapchat turned down Facebook’s $3 billion acquisition offer in 2013, the tech world balked. Since then, the five-year-old social-media platform has continually proved its critics wrong. Much like its reformed frat-boy founder, Evan Spiegel, Snapchat is growing up, and rapidly. With 150 million daily active users, Snapchat is more popular than Twitter and is arguably the favoredsocial-media app among teens.


What Twilio’s IPO Means for the Tech IPO Market | Inc.com

Year-to-date, 36 companies have gone public, with deals on average priced twelve percent below the midpoint of proposed ranges, according to Kathleen Smith, principal at Renaissance Capital. 


Blue Coat Picks Merger Over IPO – MoneyBeat – WSJ

Underwriters and investors had been looking to the looming initial public offering by the cyberdefense technology firm as a potential catalyst that could breathe some life into the lackluster market for IPOs–especially technology IPOs. 


3 Fund Raising Options to Consider During a Tepid IPO Market

Up until recently, the initial public offering (IPO) market has been dormant, which has hindered companies like Crowdcube, Lufax, Uber, Airbnb and Lyft from going public until market conditions improve.  


At last, a technology IPO for investors to chat about – The Globe and Mail

The last time the initial public offering market got excited, an Asian internet company called Alibaba was coming to New York. 


IPO Shelved, Lotte Talks Up Duty-Free Business as Probes Widen – Bloomberg

Lotte Group, South Korea’s fifth-largest family-run conglomerate, is under growing pressure to bolster its duty-free shopping business after shelving one of the year’s biggest initial public offerings in the midst of a deepening crisis. 


Mahanagar Gas looks to raise more than 10 billion rupees through IPO – The Economic Times

MUMBAI: Mumbai-based cooking gas supplier Mahanagar Gas Ltd plans to raise a maximum of 10.40 billion rupees ($154.65 million) through an initial pubic offering (IPO) on June 21, the company said on Tuesday. 


PSAV IPO Could Pop This Week – PSAV (Pending:PSAV) | Seeking Alpha

Illinois-based PSAV is a leading provider of event and audiovisual technology services in North America and internationally. 


Xerox appoints new CEO for service business ahead of IPO – MarketWatch

Xerox Corp. XRX, -1.32% has appointed Ashok Vemuri as chief executive officer of the business process outsourcing company that will trade publicly following its spin-off from Xerox Corp. XRX, -1.32% later this year.

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