Music Streaming Spotify Files for Direct Listing on New York Stock Exchange 

Music Streaming Spotify Files for Direct Listing on New York Stock Exchange 

Music streaming service Spotify has filed for a direct listing (SPOT) on the New York Stock Exchange (NYSE).  Based on recent private transactions, the Swedish based company is valued around $15 – $20 billion.  The direct listing on NYSE will allow investors and employees to sell shares and will not be raising new capital or hiring an investment bank or broker to underwrite the offering.   A direct listing will save hundreds of millions of dollars in underwriting fees.

” Spotify to be Listed on NYSE  “

Spotify was launched in 2008 and is available in more than 60 countries.  It is the biggest music streaming company in the world with 71 million premium subscribers ($9.99 monthly) globally while Apple music streaming service has 36 million subscribers.  Spotify has about 159 million monthly average users.

In 2017, the company generated 4.09 billion euros  in revenue and incur an operating loss of 378 million euros.  In 2016, the company raised $1 billion in convertible debt, which would convert to shares at IPO.  In December 2017, Tencent and Spotify announced they would buy minority stakes, helping increasing exposure to each other’s core markets.

Source: Reuters, CNBC, Mashable

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

Hong Kong Leads Global IPO Markets

Hong Kong Leads Global IPO Markets

Although funds raised in Hong Kong have dropped to an eight year low, it still ranks top as the largest IPO market world-wide according to data from Thomson Reuters. This year, Hong Kong stock markets have raised US$39.4 billion through initial public offerings, share placements, rights issues and other offerings. This is the lowest amount raised since the financial crisis in 2008.

“This year, Hong Kong stock markets have raised US$39.4 billion through initial public offerings, share placements, rights issues and other offerings.”

~ South China Morning Post

The funds raised in Hong Kong beat Shanghai Stock Exchange in 2nd place with US$16 billion and New York Stock Exchange on US$11.87 billion. The huge listing of Chinese state owned Postal Savings Bank of China (PSBC) raised US$7.6 billion and attributed to Hong Kong’s ranking as the top IPO market.

Related Reports: South China Morning Post

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Postal Savings Bank of China Gets $2 billion Backing

Postal Savings Bank of China Gets $2 billion Backing

Postal Savings Bank of China is getting a US$2 billion backing from another Chinese state firm. The bank is close to securing a cornerstone commitment from China State Shipbuilding ahead of the IPO, which is expected to raise more than $US 7 billion in the coming weeks. This IPO is set to be the world’s biggest initial public offering this year.

“The bank is close to securing a cornerstone commitment from China State Shipbuilding ahead of the IPO, which is expected to raise more than $US 7 billion in the coming weeks.”

~The Australian

Hong Kong has traditionally served as a gateway to connect Chinese companies with capital from investors. Increasingly, Chinese domestic companies are providing big chunks of funding for Hong Kong listings of other Chinese firms.

Related Reports: The Australian, Wall Street Journal

 

About China Postal Savings Bank

At present, Postal Savings Bank has 37,000 business offices for savings service, 45,000 business offices for exchange service and 20,000 business offices for international remittance service. Postal Savings Bank of China will continuously diversify its service products, expand distribution channels and improve service functions relying on postal network’s advantages and according to the modern framework for corporate governance as well as the requirements of management for commercial banks to provide more complete and convenient basic finance services and create a modern bank with adequate capital, rigorous interior control, safe operation, complete functions and high competitiveness.

Visit: China Postal Savings Bank

 

About China State Shipbuilding

China State Shipbuilding Corporation (CSSC) established on the 1st of July 1999, is a conglomerate and state-authorized investment institution directly administered by the central government of China. It boasts its being the mainstay of the shipbuilding industry in China. Under its wing, there are a total of 60 sole proprietorship enterprises and shareholding institutions, including the most powerful and some renowned shipbuilding and repairing yards, research and design institutes, marine-related equipment manufacturers and trading firms in China.

Visit: China State Shipbuilding

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

China’s IPO Market is the Hottest It Has Ever Been

China’s IPO Market is the Hottest It Has Ever Been

China’s market for initial public offerings (IPO) has been the hottest it can be. The 62 new stocks that have finished their 1st month of trading has climbed 420% on average. Huge returns on the mainland IPOs are not new and China Securities Regulatory Commission is trying to stabilize the nation’s $6.1 trillion equity market.

“China’s market for initial public offerings has been the hottest it can be. The 62 new stocks that have finished their 1st month of trading have climbed 420% on average.”

~ Bloomberg

More than 800 companies have filed for IPO and are waiting for approval according to CSRC. The 78 completed sales this year compares with 219 deals in 2015 and the value of the deals is about a quarter of the 2015 amount. Wuxi Honghui New Materials Technology Co. was one of the lucky ones, raising $39 million in June. The shares soared 553 percent in their first month on the Shenzhen exchange, and are now up 580 percent from their IPO price.

Related Reports: Bloomberg, Business Times

 

About China Securities Regulatory Commission

China Securities Regulatory Commission (CSRC), a ministerial-level public institution directly under the State Council, performs a unified regulatory function, according to the relevant laws and regulations, and with the authority by the State Council, over the securities and futures market of China, maintains an orderly securities and futures market order, and ensure a legal operation of the capital market.

China Securities Regulatory Commission is located in Beijing, with appointed one chairman, four vice chairmen, one secretary of the Disciplinary Inspection Commission (on the vice-ministerial level) and three assistants to the chairman.

Visit: China Securities Regulatory Commission


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

China’s Postal Savings Bank Files for Potential $10 billion IPO

China’s Postal Savings Bank Files for Potential $10 billion IPO

State owned Postal Savings Bank of China, the country’s largest bank by number of branches has filed for a Hong Kong initial public offering seeking to raise as much as $10 billion. The IPO aimed at raising between $7 and $10 billion could happen as early as September.

“The IPO aimed at raising between $7 and $10 billion could happen as early as September. “

~Reuters

PSBC’s planned offering comes against the backdrop of a nearly 60 percent drop in Asia-Pacific share offerings, ex-Japan, in the first half of 2016 amid the weakest activity since 2008. PSBC, which has more than 40,000 branches nationwide and is considered to have a much lower ratio of bad loans than rivals, was set up as a deposit-taking bank in 2007, using the network of the former postal savings bureau.

Related Reports: Reuters, Bloomberg

 

About China Postal Savings Bank

At present, Postal Savings Bank has 37,000 business offices for savings service, 45,000 business offices for exchange service and 20,000 business offices for international remittance service. Postal Savings Bank of China will continuously diversify its service products, expand distribution channels and improve service functions relying on postal network’s advantages and according to the modern framework for corporate governance as well as the requirements of management for commercial banks to provide more complete and convenient basic finance services and create a modern bank with adequate capital, rigorous interior control, safe operation, complete functions and high competitiveness.

Visit: China Postal Savings Bank


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

IPOs Start to Flow in Southeast Asia

IPOs Start to Flow in Southeast Asia

Companies in industries from real estate, cement to power generation are looking to raise nearly $1.5 billion in Singapore, Philippines and Indonesia. Previously, many companies delayed or scrapped their fund raising plans. Malaysia’s Sime Darby Bhd, the world’s largest listed palm oil producer by market value last year dropped plans for an IPO of its automotive business.

“Companies in industries from real estate, cement to power generation are looking to raise nearly $1.5 billion in Singapore, Philippines and Indonesia. “

~ Wall Street Journal

Deals now in South East Asia include Singapore IPO of Frasers Logistics & Industrial Trust, IPO of Cemex Holdings Philippines Inc. (Mexican cement and construction materials Cemex) and Indonesia power company PT Cikarang Listrindo Tbk.

Related Reports: Wall Street Journal, Reuters

 

About Sime Darby

Sime Darby is a Malaysia-based diversified multinational with operations in 26 countries & 4 territories and a total workforce of more than 130,000 employees. The group is involved in 5 core sectors, namely Plantation, Industrial Equipment, Motors, Property and Energy & Utilities.

Visit: Sime Darby

 

About Cemex Holdings

We are one of the leading cement producers in the Philippines, based on installed annual capacity as of December 31, 2015, according to the Cement Manufacturers Association of the Philippines. We produce and market cement and cement products, such as ready-mix concrete and clinker, in the Philippines through direct sales using our extensive marine and land distribution network. Our cement manufacturing subsidiaries have been operating in the Philippines for over 17 years, and have well established brands, such as APO, Island and Rizal, each of which has a multi-decade history in the Philippines. Our brand recognition and customer-centric direct sales approach have helped us develop a long-term customer base.

Visit: Cemex Holdings

 

About PT Cikarang Listrindo Tbk

PT Cikarang Listrindo Tbk is a power company that provides energy to industrial and residential customers in Indonesia. The Company’s plants use gas turbines that run on gas or liquid fuel. Cikarang Listrindo is based in Jakarta, Indonesia.

Visit: PT Cikarang Listrindo Tbk


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency