IPO Roundup June 30, 2016


‘China’s Apple’ Xiaomi will IPO in 2025: CEO

Chinese smartphone start-up Xiaomi could go public in 2025, the founder and chief executive said on Tuesday, as it looks to hold off on an initial public offering (IPO) as it focuses on building out physical retail stores and new products. 


Quess Corp IPO kicks off, anchor investors lap it up – The Economic Times

NEW DELHI: The initial public offering (IPO) of Quess Corp kicked off on Wednesday, with the issue seeing a subscription of 28,89,900 shares on Day 1. 


Orient Securities Prices $1 Billion Hong Kong IPO Near Bottom of Range – WSJ

HONG KONG—Citigroup Inc.’s Chinese securities joint-venture partner, Orient Securities Co., priced its Hong Kong initial public offering toward the bottom end of its indicative range, the latest sign of cooling investor appetite for China’s brokerage firms. 


CB Insights: Brexit Kills Twilio-Inspired Hope For IPO Market

Plenty of unicorns are waiting in the wings for the IPO market to recover. No doubt, their investors’ hearts were set aflutter by Twilio’s June 23rd IPO. But on June 24 — after surging 2% — markets woke up to a shock for which they had not prepared — the UK voted 52% to 48% to leave the European Union (EU). 


BSE gets shareholders nod for IPO, dilution of stake via OFS – The Economic Times

MUMBAI: Moving a step closer to listing its shares, BSE’s shareholders have approval the proposed initial public offer (IPO) of the stock exchange through an offer for sale (OFS).


Could Lyft Be Ready to IPO Before Uber? – Yahoo Finance

Ride-sharing company and major Uber competitor Lyft might just be in a better financial situation than its better-known counterpart. According to a set of leaked documents, the San-Francisco based ride service saw record growth in the month of May and is on track to meet its annual goals. 


Australis Oil & Gas pulls trigger on IPO | afr.com

The team behind the now-sold US-focused shale player Aurora Oil & Gas has finalised its IPO plans, lodging a prospectus to raise $30 million. 


L&T Infotech to launch IPO on 11 July at Rs705-710 per share – Livemint

Larsen and Toubro Infotech Ltd, the information technology (IT) services unit of India’s largest engineering firm, will launch its initial public offering (IPO) on 11 July, the parent firm said in a filing to the stock exchanges on Wednesday. 


Guvera Cuts Number of Markets in Half Following IPO Rejection | Billboard

Down-on-its-luck music streaming service Guvera has placed two of its subsidiaries under administration and cut the number of markets where it operates by half as it attempts to bounce back from a rejected IPO from the Australian Securities Exchange (ASX) earlier this month. 


Twilio Inc (NYSE:TWLO): A Successful IPO Hammered By Global Pressure

Twilio Inc (NYSE:TWLO) was the first unicorn IPO of the year. It took place last week with an incredible timing that allowed the company to benefit significantly from a day of a sharp uptrend in the markets, just one day before the Brexit decision. 


Hinduja Leyland Finance, CL Educate get Sebi approval for IPO – The Economic Times

NEW DELHI: Markets regulator Sebi has given approval to Hinduja LeylandBSE -0.05 % Finance, an arm of Ashok LeylandBSE -0.05 %, and test-prep player CL Educate to launch their initial public offerings. 


Exclusive: Apttus planning IPO for first half of 2017 – MarketWatch

Apttus, a Silicon Valley startup with a valuation of at least $1 billion, plans to go public in the first half of 2017, the company told MarketWatch exclusively on Monday. 


China Resources Arm Aims for Muscular Hong Kong IPO – WSJ

China Resources Pharmaceutical Group Ltd. has filed for an initial public offering in Hong Kong that could rank it among the biggest health-care-related deals expected this year in Asia. 


Cramer: One IPO that proves Silicon Valley unicorns have value

Stocks have been pulled down by the gravitational pull of a Brexit, but Jim Cramer found one bright spot in the market that managed to defy the pull of the averages and roar higher on Monday. 


What Investors Need to Know About the LINE Corporation IPO — The Motley Fool

Lately, the initial public offerings market has been about as lively as a sleeping turtle on the beach. In one of only a very few new stock issues scheduled to happen in the early part of this summer, Japan-based web and mobile services company LINE Corporation should hit the market next month. 


Private equity fund Faering Capital eyes bumper exit in RBL IPO – The Economic Times

MUMBAI: Domestic private equity fund Faering Capital is eyeing a bumper exit from its 5-year old investment in Ratnakar Bank Ltd. (RBL) by cashing out at the proposed initial public offering slated to be launched later this month, said two sources privy to the plans. 


Lower valuation as compared with peers may make Quess IPO attractive – The Economic Times

ET Intelligence Group: Investors may subscribe to Quess Corp’s initial public offer (IPO) since it has higher operating margins and lower valuation compared with its peer Team Lease. At the higher end of the price band and based on diluted equity, the stock will be trading at 45 times FY16 earnings as compared with Team Lease’s valuation of 57 times. Quess is in staffing business, where revenue is cyclical and linked to general economic environment.


5 Upcoming IPOs This Week Led by Global Medical IPO (NYSE: GMRE)

There are five upcoming IPOs this week as the second quarter comes to an end. According to Renaissance Capital, a manager of IPO-focused ETFs, all five offerings are expected to raise a combined $275 million in proceeds. 


Listing panel revamped: NSE to file IPO prospectus in Jan; overseas listing by April | The Indian Express

The National Stock Exchange (NSE) has decided to go for a domestic initial public offering (IPO) by January and also pursue listing abroad. 


Line, Biggest Tech IPO of the Year, Struggles to Prove Growth Plan – Fortune

In delaying its IPO by two years, Japanese messaging app company Line bought time to correct weak financial reporting controls, work on its business plan, bolster staffing—and left billions of dollars on the table as its valuation shriveled. 


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