Stock exchange – Face OVL http://faceovl.com/ Thu, 25 Nov 2021 11:36:41 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://faceovl.com/wp-content/uploads/2021/07/icon-2021-07-08T143259.742-150x150.png Stock exchange – Face OVL http://faceovl.com/ 32 32 Kimbal Musk-backed herbal accelerator debuts on Canadian stock exchange https://faceovl.com/kimbal-musk-backed-herbal-accelerator-debuts-on-canadian-stock-exchange/ Thu, 25 Nov 2021 09:55:40 +0000 https://faceovl.com/kimbal-musk-backed-herbal-accelerator-debuts-on-canadian-stock-exchange/ The Fresh Factory, a vertically integrated platform for launching own-brand plant-based foods, announced that it has joined the Canadian Stock Exchange (ticker CSE: FRSH) in an effort to attract venture capitalists from this country. Based just outside of Chicago, The Fresh Factory was created to accelerate the growth of healthier herbal products. Led by a […]]]>

The Fresh Factory, a vertically integrated platform for launching own-brand plant-based foods, announced that it has joined the Canadian Stock Exchange (ticker CSE: FRSH) in an effort to attract venture capitalists from this country.

Based just outside of Chicago, The Fresh Factory was created to accelerate the growth of healthier herbal products. Led by a team of food and marketing veterans, including healthy eating advocate Kimbal Musk, it operates a fully-equipped manufacturing facility that can quickly launch and grow innovative new brands.

Factory fresh plant
© The Fresh Factory

Such speed is invaluable, according to the company, as most of today’s food and beverage infrastructure is designed for big brands with huge production runs, and therefore is often limited and inefficient. In contrast, Fresh Factory’s flexibility and small runs allow it to meet the immediate needs of emerging brands and accomplish in weeks what other companies may take months to do.

The platform has a strong focus on creating clean, sustainable plant-based foods and moving fresh produce from the farm to the shelf quickly. It offers comprehensive start-up resources for emerging food producers, including SQF Level III certified co-manufacturing, assembly and fulfillment, logistics, financing, and sales and marketing expertise. Its staff even includes food scientists who specialize in formulations of herbal products.

Fresh factory logo
Fresh plant

Fresh Factory’s proximity to Chicago gives it privileged access to major distributors, and in 2020 alone, the factory produced more than 250 products for 36 different brands, including Field + Farmer house brands (dressings, dips and herbal sauces) and Element Pressé (fresh cold pressed juices). By joining the Canadian Stock Exchange, the company hopes to continue its growth and broaden its mission.

“We saw the Canadian venture capital markets as the perfect arena to further propel our business and to align with investors who support companies like ours – companies who want to deliver great products while helping people. and reforming inefficiencies in the system, ”Nate said. Laurell, co-founder of The Fresh Factory.

“As a B Corporation, we have set ourselves the goal of becoming a market leader in terms of sustainable development: guaranteeing a fair wage for our farmers, sourcing locally, composting our waste, buying second-hand products (often food). pier), give a percentage of sales and operate a diverse and fair business. These are just a few of the steps we are following today, and we have various initiatives underway to become even more sustainable. “


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Stock Market Today: Tech Stocks Fall As Investors Consider Rate Hikes, Covid https://faceovl.com/stock-market-today-tech-stocks-fall-as-investors-consider-rate-hikes-covid/ Tue, 23 Nov 2021 18:32:00 +0000 https://faceovl.com/stock-market-today-tech-stocks-fall-as-investors-consider-rate-hikes-covid/ Text size Jerome Powell has been re-appointed to head the Federal Reserve. Alex Wong / Getty Images Tech stocks were down on Tuesday, as bond yields rose. In the afternoon discussions, the Dow Jones Industrial Average was up 35 points, or 0.1%, after the index edged up 17 points on Monday to close at 35,619. […]]]>

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Thai stock market could extend Friday’s losses https://faceovl.com/thai-stock-market-could-extend-fridays-losses/ Mon, 22 Nov 2021 02:32:56 +0000 https://faceovl.com/thai-stock-market-could-extend-fridays-losses/ (RTTNews) – The Thai stock market ended a six-day winning streak on Friday in which it had collected more than 20 points, or 1.3%. The Stock Exchange of Thailand is now located just above the plateau of 1645 points and could suffer further damage on Monday. Global forecasts for Asian markets are negative due to […]]]>

(RTTNews) – The Thai stock market ended a six-day winning streak on Friday in which it had collected more than 20 points, or 1.3%. The Stock Exchange of Thailand is now located just above the plateau of 1645 points and could suffer further damage on Monday.

Global forecasts for Asian markets are negative due to new concerns over COVID-19 and the resulting drop in crude oil prices. European markets were down and US stock markets were mixed and Asian markets were counting to divide the difference.

The SET ended slightly lower on Friday following losses in financial stocks and a mixed picture from energy producers.

For the day, the index slipped 5.96 points or 0.36% to end at 1,645.06 after trading between 1,641.52 and 1,656.27. The volume was 39.408 billion shares worth 102.896 billion baht. There were 1,215 drops and 533 winners, with 498 shares ending unchanged.

Among assets, Advanced Info sank 0.76%, while Thailand Airport fell 0.37%, Bangkok Bank fell 1.95%, Bangkok Dusit Medical lost 2.03%, Bangkok Expressway fell 1.67%, BTS Group fell 2.55%, CP All Public slipped 0.38%, Charoen Pokphand Foods rose 0.81%, Energy Absolute climbed 8.30 %, Gulf added 0.61%, IRPC rose 2.05%, Kasikornbank fell 1.68%, Krung Thai Bank slipped 1.67%, Krung Thai Card lost 0.42% , PTT Oil & Retail climbed 0.94%, PTT Exploration and production increased 0.42%, PTT Global Chemical lost 0.82%, SCG Packaging fell 0.78%, Siam Commercial Bank fell 4.48%, TTB Bank stumbled 1.63%, True Corporation fell 1.37% and PTT and Siam Concrete remained unchanged.

Wall Street’s lead is mixed as the Dow Jones opened lower on Friday and stayed that way and the NASDAQ opened higher and closed at an all time high. The S&P 500 opened slightly lower, bounced off the unchanged line, and finished slightly in the red.

The Dow Jones lost 268.92 points or 0.75% to close at 35,601.98, while the NASDAQ added 63.74 points or 0.40% to close at 16,057.44 and the S&P 500 fell 6.58 points or 0.14% to finish at 4,697.96. For the week, the NASDAQ jumped 1.2%, the S&P rose 0.3% and the Dow Jones lost 1.4%.

New COVID-19 concerns have weighed on cyclical stocks as a brutal fourth wave of the coronavirus pandemic sweeps across Europe. Austria has announced a full nationwide COVID-19 lockdown from today, while Germany has announced more restrictions for unvaccinated people.

The potential for more European countries to reestablish full closures has raised fears that the pandemic is once again weighing on the global economy.

At the same time, tech-rich NASDAQ benefited from continued strength in tech stocks following good earnings news from companies such as software firm Intuit (INTU) and cybersecurity firm Palo Alto Networks. (PANW).

Crude oil prices fell sharply on Friday amid growing concerns about the outlook for energy demand following an increase in COVID-19 cases and further restrictions in some European countries. West Texas Intermediate crude oil futures for December came in at $ 75.94 a barrel, losing $ 2.47 or 3.2%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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Peloton wowed the stock market with its $ 1 billion stock sale – here’s why https://faceovl.com/peloton-wowed-the-stock-market-with-its-1-billion-stock-sale-heres-why/ Sat, 20 Nov 2021 13:24:00 +0000 https://faceovl.com/peloton-wowed-the-stock-market-with-its-1-billion-stock-sale-heres-why/ VSconnected exercise equipment company Interactive Platoon (NASDAQ: PTON) saw its shares climb about 13% in the hours following the announcement of a $ 1 billion secondary stock offering on Tuesday morning. The company’s stock price has been beaten for weeks following disappointing first quarter financial results, as well as an alarming drop in management guidance. […]]]>

VSconnected exercise equipment company Interactive Platoon (NASDAQ: PTON) saw its shares climb about 13% in the hours following the announcement of a $ 1 billion secondary stock offering on Tuesday morning. The company’s stock price has been beaten for weeks following disappointing first quarter financial results, as well as an alarming drop in management guidance. Therefore, the massive rally in the stock may seem confusing at first glance. After all, the company just announced that it would dilute its shareholders while signaling its need for more cash than its sales provide. However, there is indeed a bullish underlying current that the stock market has correctly identified.

There are still a lot of warning signs around Peloton

Regardless of the stock market’s enthusiasm for offering Peloton stock, risks remain high for the online training provider, and it will still need to take aggressive action to secure a turnaround. In its first quarter of fiscal 2022, which ended September 30, revenue growth was positive, driven by an increase in its overall subscriptions. However, the use of its application has declined significantly, and in its updated forecast it has reduced all of its most significant previous estimates for fiscal 2022. It also continued to generate net losses, and management anticipates even greater loss of income to come.

Image source: Getty Images.

The so-called ‘grand reopening’, when the period of COVID-19 closure and forced business closures largely ended, shifted Peloton from its upward trajectory due to the pandemic to a declining one . Large gym operators have reported that customers are returning to physical gyms in numbers approaching those seen in 2019 before the coronavirus arrived in the United States

In another recent development, Peloton launched high-profile lawsuits against two of its competitors on Monday. First, it is suing the maker of NordicTrack iFIT for patent infringement, in part based on U.S. Patent No. 11,170,886, which was just granted on November 12. with other Peloton users in live and on-demand exercise classes. “

The lawsuit alleges that iFit “attempted to circumvent Peloton’s innovative technology” by using its own ranking technology, involving home streaming and live online workouts, which it uses in at least 55 products. Peloton is also suing Echelon for using an “imitator rating” for its bikes, treadmills and rowers. Some commentators say it is also a sign of desperation on Peloton’s part, although it is also true that the company has long been very contentious, even in 2020 when it was on the rise.

Why is selling stocks so popular with investors?

Peloton’s miscellaneous troubles caused its stock value to drop from about $ 114 per share in early September to about $ 86 in early November, just ahead of its fiscal first quarter earnings report. That report sparked another drop, with stock prices hitting a low of around $ 47 on Monday.

However, the announcement on Tuesday of the expected sale of around 23.91 million shares gave the action a boost. They will sell for $ 46 a share and the offering is expected to bring in around $ 1.07 billion to be used for “general business purposes.” The offering includes 3.21 million additional optional shares that the underwriters can purchase and is expected to close on Thursday. Wall Street responded by bidding on 13% Peloton shares at noon Tuesday. They closed that trading day up 15.5%, although a slight downward movement occurred after hours.

Since the secondary offering is equivalent to approximately 8% of Peloton’s total market capitalization at the time of the announcement, the sale will significantly dilute current shareholders. There are several reasons why Wall Street’s positive response to the news was not wrong, however.

One possible factor has been described by Baird analyst Jonathan Komp, who now predicts that the stock should not fall below a low of $ 50 per share. He expects improvements over the next few quarters. In addition, he believes the stock offering will restore investor interest by freeing Peloton “from a large short-term surplus,” according to his research note, which also described the practice firm as a “new choice”.

An even bigger factor in the optimistic response, however, could be the vote of confidence from major investors that this stock offering represents. According to Peloton’s press release, those who will purchase the newly issued shares include “entities affiliated with Durable Capital Partners LP and TCV, […] and funds and accounts advised by T. Rowe Price Associates, Inc. “In short, large institutional investment firms and their clients believe that a large investment in Peloton is worth it and are investing money in it. conviction.

Large companies with reputations to protect – along with in-depth analysis and high-quality information gathering – have enough confidence in Peloton’s future to buy over $ 1 billion in new stock. This is a remarkably powerful endorsement, and probably helps explain the bullish sentiment on Wall Street.

While the company is still clearly grappling with the headwinds generated by the resurgence of physical gyms and a possible decline in interest in connected home exercise platforms, following this sale of shares, Peloton appears to be at least neutral again and worth watching. It could even be a buy – albeit a risky one – among gym stocks.

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Rhian Hunt has no position in the stocks mentioned. The Motley Fool owns shares and recommends Peloton Interactive. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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Beijing Stock Exchange: President Xi Jinping’s pet scholarship is here https://faceovl.com/beijing-stock-exchange-president-xi-jinpings-pet-scholarship-is-here/ Mon, 15 Nov 2021 09:20:00 +0000 https://faceovl.com/beijing-stock-exchange-president-xi-jinpings-pet-scholarship-is-here/ The stock exchange was first announced by the head of the Communist Party of China in September and is intended to help small and medium-sized businesses raise capital. The first batch of 81 companies started trading on Monday, including 10 initial public offerings from technology and manufacturing companies. Shares of those IPOs surged at breakers […]]]>

The stock exchange was first announced by the head of the Communist Party of China in September and is intended to help small and medium-sized businesses raise capital.

The first batch of 81 companies started trading on Monday, including 10 initial public offerings from technology and manufacturing companies. Shares of those IPOs surged at breakers open and knocked, before closing with an average price increase of 200%.

Automotive component maker Tongxin Transmission was the top performer with a staggering 494% gain. The other 71 Beijing-listed companies previously traded over-the-counter for unlisted companies on China’s major Shanghai and Shenzhen stock exchanges.

The launch of the exchange is of strategic importance to Xi’s economic and political vision. It is the first time that a stock exchange has been established in Beijing, giving the capital and political center of the country more influence in the world of business and finance.
It comes at a time when Xi is taking on some of the country’s biggest tech giants, which until recently were growing at an almost breakneck pace. The Communist leader’s campaign aims to ensure that wealth and capital are not concentrated in the hands of a few behemoths in the industry.
The launch of BSE could provide some relief to companies in the tech sector, which face significant regulatory hurdles from the United States and China to raise funds overseas.

Help new and small businesses

When Xi first announced the idea of ​​a Beijing-based exchange in a speech in September, he said he wanted to create a “primary” funding platform for “service-oriented” small businesses. ”And“ innovative ”.

Small and medium-sized enterprises traditionally have difficulty obtaining funds from the Chinese public banking system due to their lack of collateral and other constraints.

But if China is to realize Xi’s ambition to surpass the West in advanced technologies, these companies will have to develop and innovate.

In 2018, as the trade war between the United States and China raged, Xi unveiled a board of directors for startups on the Shanghai Stock Exchange – the Star Market – which focuses on companies with “technology. core in key areas’, such as high-end semiconductors. and computer processors. There is also a Nasdaq-style council on the Shenzhen Stock Exchange, the ChiNext, which was established in 2009 to target high-growth startups.

The Beijing Stock Exchange will “complement” the Shanghai and Shenzhen stock exchanges and focus on serving innovative small businesses, the China Securities Regulatory Commission said in September. At present, BSE-listed companies have an average market value of around 3.9 billion yuan ($ 610 million).

China's response to the Nasdaq may start to fizzle out

Increase Beijing’s influence

Mainland China’s main stock exchanges are located far from the country’s political center in the north. The Shanghai Stock Exchange, established in the eastern city in 1990, mainly hosts large-cap companies, including state-owned enterprises, banks, and energy companies. The Shenzhen Stock Exchange in southern China has a larger proportion of tech companies.

(Hong Kong, the former British colony in southern China, also has an international stock exchange that is subject to different regulatory and legal systems. It is exempt from the kind of strict capital controls that Beijing imposes on the mainland.)

“The establishment of BSE is conducive to balanced regional development and will increase the influence of northern China [on the] capital market, ”said Luo Zhiheng, chief macro analyst for Guangzhou-based Yuekai Securities, in a recent research report.

In addition, the Beijing Stock Exchange can “better serve the central positioning of the capital which is to become the national center of politics, culture, international trade, technology and innovation”, a goal set by Xi in 2014, Luo said.

Door closes on Chinese tech IPOs on Wall Street

The launch of the Beijing-based exchange also comes as the door closes for overseas Chinese tech IPOs, due to tighter control of such companies in China and the United States.

Beijing has encouraged its businesses to register domestically and become less reliant on foreign money and technology, a campaign that escalated during the 2018-19 trade war with the United States.
He also appears keen to prevent the huge amount of sensitive data held by tech companies from falling into the hands of foreign governments – which manifested itself in his surprising decision in July to suspend Didi days after the introduction in US ridesharing giant stock market, citing data collection breaches.

China’s Cyberspace Administration on Sunday proposed stricter rules for tech companies providing overseas listings. Businesses wishing to register in Hong Kong must undergo cybersecurity inspections if they hold national security data, the regulator said.

Businesses with more than one million users must also apply for cybersecurity approval before registering abroad, he added, reiterating a July directive.

“Chinese executives are increasingly wary of listing their companies in the United States … especially for companies that control large amounts of data,” analysts at New York-based Eurasia Group said in a recent report. of research.

“Indeed, the recently announced Beijing Stock Exchange is intended to help small Chinese companies raise capital outside the United States,” they said.


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Beijing Stock Exchange allows companies to list on November 15 https://faceovl.com/beijing-stock-exchange-allows-companies-to-list-on-november-15/ https://faceovl.com/beijing-stock-exchange-allows-companies-to-list-on-november-15/#respond Thu, 11 Nov 2021 01:05:00 +0000 https://faceovl.com/beijing-stock-exchange-allows-companies-to-list-on-november-15/ The Chinese national flag is seen in Beijing, China on April 29, 2020. REUTERS / Thomas Peter / File Photo SHANGHAI, Nov. 11 (Reuters) – The new Beijing Stock Exchange in China approved applications for the listing of shares of 10 companies on Nov. 15, documents filed by the companies said on Wednesday, two months […]]]>

The Chinese national flag is seen in Beijing, China on April 29, 2020. REUTERS / Thomas Peter / File Photo

SHANGHAI, Nov. 11 (Reuters) – The new Beijing Stock Exchange in China approved applications for the listing of shares of 10 companies on Nov. 15, documents filed by the companies said on Wednesday, two months after Chinese President Xi Jinping announced the establishment of a stock exchange for small and medium enterprises. companies.

The companies, currently listed on the so-called “Innovation Level” of the Beijing National OTC Stock Exchange, known as the “New Third Board,” said in separate statements that their shares would be listed on the Beijing Stock Exchange. next Monday.

The companies include Beijing Henghe Information Technology Co, Keda Automation Control, and Anhui Jingsai Technology Co.

China’s securities regulator said the new exchange will complement existing exchanges in Shanghai and Shenzhen. Investors expect a busy trading start in light of sparkling launches of other boards, such as the Shanghai STAR Market in 2019.

A set of rules for the Beijing Stock Exchange was released last month. Individual investors qualified to trade must have at least 500,000 yuan ($ 77,459) of assets in their stock accounts.

“This underscores the speed and efficiency of the launch of the Beijing Stock Exchange,” said Zhou Yunnan, a seasoned investor in the New Third Board, on which the new exchange is based.

“It is imperative to launch the stock exchange, which is responsible for deepening reforms of the Chinese capital market,” he added.

China has stepped up support for small and medium-sized enterprises struggling with an economic downturn, while attacking tech giants as part of President Xi’s “common prosperity” goal, a policy aimed at reducing the economy. gap between rich and poor.

The Beijing Stock Exchange will use a registration-based initial public offering (IPO) mechanism, which will pave the way for the listing system to be rolled out on China’s main boards, Morgan Stanley said. Read more

At present, only ChiNext in Shenzhen and the technology-focused STAR Market in Shanghai have adopted an American-style IPO system.

Reporting by Jason Xue and Andrew Galbraith; Editing by Kenneth Maxwell

Our Standards: Thomson Reuters Trust Principles.


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Global stock markets drop after Wall St hits record high again https://faceovl.com/global-stock-markets-drop-after-wall-st-hits-record-high-again/ https://faceovl.com/global-stock-markets-drop-after-wall-st-hits-record-high-again/#respond Tue, 09 Nov 2021 08:48:45 +0000 https://faceovl.com/global-stock-markets-drop-after-wall-st-hits-record-high-again/ BEIJING – Global stock markets were mixed on Tuesday after Wall Street hit a record for an eighth day. London opened little change while Frankfurt, Shanghai and Hong Kong advanced. Tokyo and Sydney declined. On Wall Street, the future of the benchmark S&P 500 was up less than 0.1%. US stocks were boosted on Monday […]]]>

BEIJING – Global stock markets were mixed on Tuesday after Wall Street hit a record for an eighth day.

London opened little change while Frankfurt, Shanghai and Hong Kong advanced. Tokyo and Sydney declined.

On Wall Street, the future of the benchmark S&P 500 was up less than 0.1%.

US stocks were boosted on Monday by gains in construction-related stocks after Congress approved a $ 1,000 billion infrastructure bill last week.

Meanwhile, Federal Reserve Vice Chairman Richard Clarida has said the conditions for raising interest rates may not be met until the end of next year. Traders fear that a spike in inflation may prompt central banks to withdraw stimulus measures that have helped raise stock prices.

“Investors will be on the lookout for any clue that signals an adjustment in the process of central bank spending cuts and rate hike expectations,” ActivTrades’ Anderson Alves said in a report.

In early trading, the FTSE 100 in London was down less than 0.1% to 7,298.82 and the DAX in Frankfurt was up 0.1% to 16,070.01. The CAC 40 in Paris lost less than 0.1% to 7,042.55.

A d

On Wall Street, the future of the Dow Jones Industrial Average was less than 0.1%.

On Monday, the S&P 500 added 0.1%. The Dow Jones rose 0.3% and the Nasdaq composite rose 0.1%, also setting records.

In Asia, the Shanghai Composite Index rose 0.2% to 3,507.00 while the Nikkei 225 in Tokyo lost 0.8% to 29,285.46. The Hang Seng in Hong Kong was up 0.2% to 24,813.13.

The Kospi in Seoul lost 0.1% to 2,962.46 while the S & P-ASX 200 in Sydney lost 0.2% to 7,434.20.

The Indian Sensex fell 0.3% to 60,353.72. New Zealand, Bangkok and Jakarta advanced while Singapore declined.

Also on Tuesday, the Japanese government announced that wage growth fell to a 0.2% year-over-year loss of 0.2% earlier in September.

On Wall Street, steelmakers and other businesses likely to benefit from infrastructure spending also recovered after Congress passed the infrastructure bill.

Nucor gained 3.6%. Vulcan Materials, which sells crushed stone and concrete, rose 4.9%. The equipment manufacturer Caterpillar grew by 4.1%.

A d

Investor concerns about inflation were assuaged by rising corporate profits.

Advanced Micro Devices jumped 10.1% for the biggest gain of the S&P 500 after announcing that Facebook’s parent company Meta would use AMD chips in its data centers. Chipmaker Nvidia rose 3.5%.

The Labor Department is due to report wholesale inflation on Tuesday and consumer inflation on Wednesday.

In energy markets, benchmark US crude oil rose 42 cents to $ 82.36 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 66 cents on Monday to $ 81.93. Brent crude, the basis of international oil prices, added 37 cents to $ 83.80 a barrel in London. It gained 69 cents the previous session at $ 83.43 a barrel.

The dollar fell to 112.97 yen from 113.24 yen on Monday. The euro was little changed at $ 1.1588.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


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The first Qatari to list his company on the NYSE https://faceovl.com/the-first-qatari-to-list-his-company-on-the-nyse/ https://faceovl.com/the-first-qatari-to-list-his-company-on-the-nyse/#respond Sun, 07 Nov 2021 15:02:00 +0000 https://faceovl.com/the-first-qatari-to-list-his-company-on-the-nyse/ Alkuri Global Acquisition Corp, a publicly traded special purpose acquisition company founded by Qatari Sultan al-Maadeed, has listed its new acquisition Babylon Holdings Limited on the New York Stock Exchange. This makes al-Maadeed the first Qatari and Gulf national to set up a U.S. company listed on the U.S. Stock Exchange. Babylon Holdings Limited has […]]]>
Alkuri Global Acquisition Corp, a publicly traded special purpose acquisition company founded by Qatari Sultan al-Maadeed, has listed its new acquisition Babylon Holdings Limited on the New York Stock Exchange.

This makes al-Maadeed the first Qatari and Gulf national to set up a U.S. company listed on the U.S. Stock Exchange. Babylon Holdings Limited has been listed under the ticker symbol “BBLN”.

Babylon’s listing, which offers clinical consultations and interactions with artificial intelligence, follows rapid progress across all of its business segments, making it one of the fastest growing digital health companies faster to go public this year.

“Babylon is one of the most exciting stories in healthcare and technology, and we’re excited to help them on what we believe is a truly decisive path as an open society,” Rich said. Williams, Managing Director of Alkuri.

Alkuri shareholders approved the combination in October as part of a deal that provided Babylon with approximately $ 460 million in proceeds, including cash held in Alkuri’s trust account.

At a special meeting held in October 2021, Alkuri shareholders approved the business combination, including the merger agreement, by and between Babylon Holdings, Alkuri Global Acquisition, Liberty USA Merger Sub, Inc., Alkuri Sponsors and Dr Ali Parsadoust, Chief Executive Officer and Founder of Babylon, and related agreements and transactions contemplated by it.

“We believe we have provided an incredibly attractive entry point for a category-defining company in a $ 10 billion global industry that we believe is in the early stages of its technological revolution,” said Williams, adding potential rewards of this merger. with Babylon would extend far beyond the economy.

“As we embark on the next step in our journey as a public company, we believe we are only just beginning as we seek to reorganize every touchpoint across the healthcare continuum,” said the CEO of Babylon, which increased its income. by 394% from 2020 to 2021, and by 472% for the six-month period ended June 30, 2021.

Alkuri Global Acquisition, listed on NASDAQ, was incorporated as a Delaware corporation, the business objective of which is to effect a merger, stock exchange, asset acquisition, share purchase, reorganization or a similar business combination with one or more businesses, which she calls the initial combination business.

Believing that there are many target entities that could become attractive public enterprises, the company said its target sectors are in disruptive technologies, with a focus on consumer internet and markets, health, financial technologies and mobility.

The company, which already has institutions registered in the share register, is focused on identifying potential target companies with above industry average growth and a defensible market position with higher enterprise value. to $ 750 million, where the operational, strategic or managerial leadership team expertise can help maximize value.


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Biologics Manufacturing Boosts Evotec’s $ 435 Million U.S. Stock Market Debut https://faceovl.com/biologics-manufacturing-boosts-evotecs-435-million-u-s-stock-market-debut/ https://faceovl.com/biologics-manufacturing-boosts-evotecs-435-million-u-s-stock-market-debut/#respond Fri, 05 Nov 2021 22:16:58 +0000 https://faceovl.com/biologics-manufacturing-boosts-evotecs-435-million-u-s-stock-market-debut/ When a life sciences company operates in the public markets with a stock offering of up to nine digits, the odds are that the capital is destined for manufacturing. And so is Evotec, a decades-old biotech industry player that has recently added new manufacturing capabilities. The company aims to expand its biologics manufacturing sites in […]]]>

When a life sciences company operates in the public markets with a stock offering of up to nine digits, the odds are that the capital is destined for manufacturing. And so is Evotec, a decades-old biotech industry player that has recently added new manufacturing capabilities. The company aims to expand its biologics manufacturing sites in the United States and Europe, and its Nasdaq debut raised $ 435 million to support those plans.

Evotec may be new to many US investors, but it’s not a newcomer to the public markets. The Hamburg, Germany-based company has been listed on the Frankfurt Stock Exchange since 1999 under the symbol “EVT”. The company’s shares began trading Thursday on the Nasdaq under the ticker symbol “EVO”. Evotec offered 20 million US custodian shares for $ 21.75 each. That’s 2 million shares less than he had planned to offer for about $ 26.16 a piece. Evotec’s closing price on Friday was $ 22.55.

In its prospectus, Evotec said that the growing understanding of the molecular and genetic foundations of disease drives the need for advanced technologies capable of interpreting and translating the large amount of data generated. The company has developed such technologies, including computer software that identifies biomarkers and analyzes how a drug works. Evotec’s artificial intelligence and machine learning capabilities generate and analyze data, providing insights and predictions about the efficacy of a drug candidate. The company’s business has provided these technologies to biopharmaceutical companies that discover and develop drugs. In this respect, Evotec is a service provider, but its relationship with companies is not always strictly seller.

Evotec generates revenue in several ways. The company may offer its offerings under a fee-for-service model, similar to the relationships many contract research organizations have with pharmaceutical companies. In these cases, the biopharmaceutical company owns all rights to its drug (s). However, in other cases, Evotec also forms partnerships in which the risk of drug development is shared. Evotec provides its technology and services in exchange for milestone payments as programs progress, as well as potential royalties on sales of marketed products.

According to the filing, Evotec has participated in 11 disclosed pipeline programs currently in clinical testing and more than 100 programs in discovery or preclinical development. Evotec also invests in products or companies with the potential to generate returns in the future as these companies go public or are acquired. The record indicates that as of June 30, the company’s equity investments covered 90 active projects.

Although Evotec has been in business since 1993, it has experienced significant growth in recent years. The turnover in 2020 amounted to 500.9 million euros, an increase of 12.2% compared to the previous year. In the first half of this year, Evotec achieved a turnover of 271.3 million euros, an increase of 17.5% compared to the same period last year. This growth has been accompanied by an increase in the number of customers. Evotec said its customer count in 2020 was 829 compared to 769 in 2019. The three biggest – Bristol Myers Squibb, Merck and Sanofi – accounted for 24% of Evotec’s 2020 revenue, according to the filing. That’s down from 30% in 2019, but the company attributed the drop to revenue growth from other customers. Higher earnings growth is expected from manufacturing services, and that’s one of the drivers for this week’s US equity offering.

In 2019, Evotec acquired Just Biotherapeutics, a Seattle-based company that applies AI and machine learning capabilities to the discovery and development of biologic drug candidates. Just Bio has a manufacturing facility in Redmond, Wash., Which opened in August. This site, called J.POD, has a manufacturing agreement with the US Department of Defense covering the production of monoclonal antibodies for Covid-19. The Redmond plant also counts Merck as a partner in the pharmaceutical industry. Another manufacturing site in Toulouse, France, was acquired from Sanofi last year. There, Evotec plans to build a second J.POD facility on the acquired land.

Evotec said in the prospectus that approximately $ 100 million of the proceeds from the sale of shares will go towards the expansion of the Redmond site. Another $ 175 million is set aside to build additional organic manufacturing capacity in Toulouse. Evotec also plans to invest in its technologies. Approximately $ 35 million is earmarked for the company’s precision medicine platform, including the expansion of its induced pluripotent stem cell technology platform, expanding access to patient-derived samples and relevant data on the disease, as well as the ability to analyze this data.

Although Evotec has been a partner of pharmaceutical companies, the company has its own drug pipeline without a partnership. Evotec plans to spend $ 115 million to accelerate development of these drugs and add more to the pipeline. The company said these drugs could end up in the hands of partners in the pharmaceutical industry.

Evotec’s business model is profitable. The company expects net profit for the nine months ending September 30 to be between 245 and 249 million euros, compared to 5.8 million euros in the same period last year. The company attributed much of the increase to gains from its investment in artificial intelligence biotechnology Exscientia, a partner of Evotec which completed its IPO last month.

IO Biotech IPO Raises $ 100 Million for New Twist in Cancer Immunotherapy

IO Biotech, a clinical-stage company that develops peptide-based drugs to fight cancer, raised $ 100 million when it debuted on the stock market. The Copenhagen, Denmark-based company valued its 7.15 million share offering at $ 14 apiece, which was the low end of its projected price range. The company previously set a goal of selling 6.5 million shares at between $ 14 and $ 17 per share. Shares of IO began trading on the Nasdaq on Friday under the ticker symbol “IOBT”.

IO was formed in 2014, derived from the National Cancer Immune Therapy Center at Herlev University Hospital in Denmark. The company calls its technology platform “T-win”. IO drugs are intended to activate natural T cells to target mechanisms that suppress immune responses. The company said in its IPO that T-win drugs offer a dual approach. First, they kill tumor cells and cells in the tumor microenvironment that express immunosuppressive proteins. The second mechanism is the ability to modulate the tumor microenvironment to make it a more pro-inflammatory and anti-tumor place.

“Our T-win technology is based on our team’s deep understanding of both the [tumor microenvironment] and the ability of a tumor to escape surveillance and destruction by the immune system, ”IO said in the IPO filing. “Our approach contrasts with previous methods which sought either to block unique immunosuppressive pathways or to direct the immune system against specific identified antigens expressed by tumor cells. “

IO’s lead drug candidate, IO102-IO103, is designed to target the immunosuppressive mechanisms of two proteins, IDO and PD-L1. In Phase 1/2 testing in patients with advanced melanoma, IO said the results showed “significant” tumor regression and a long-lasting anti-tumor response. Tolerance of therapy was also manageable in the study of 30 patients. The overall response rate was 73%; the complete response rate was 47%. The company now plans to advance IO102-IO103 in a pivotal Phase 3 clinical trial that will evaluate the therapy in combination with Merck’s anti-cancer drug, pembrolizumab (Keytruda). This trial, targeting the recruitment of 300 patients, is expected to begin by the end of this year, according to the file.

IO is preparing to evaluate its flagship drug as a first-line treatment in other types of solid tumors. These tests will take place in the form of a collective trial, in which the study drug is tested against several different cancers that all have the same biological or genetic signature. Cancers that will be covered in the planned basket study include non-small cell lung cancer, squamous cell carcinoma of the head and neck, and urothelial bladder cancer. In addition to evaluating the therapy as a first-line treatment, the company also plans to test it before surgery, as a neoadjuvant, which is a first step in trying to shrink tumors before surgery. IO also plans to test it as an adjuvant therapy, a post-surgical treatment to reduce the chances of the cancer coming back.

IO’s main shareholder is Lundbeckfond Invest, which has a 14.2% stake after the IPO, according to the filing. Novo Holdings owns 10.8% of the company after the IPO. As of September 30, IO said it had $ 45.4 million in cash. An additional $ 84.1 million was paid to the company last month as part of an investment deal the company struck earlier this year. In the prospectus, IO said it plans to deploy around $ 50 million for the Phase 3 testing of its leading therapeutic candidate. An additional $ 20 million will be spent on the development of this therapy in a planned Phase 2 basket trial. Another program, IO112, is expected to receive $ 10 million for a phase 1/2 trial in combination with IO102 and IO103.

Photo: Krisztian Bocsi / Bloomberg, via Getty Images


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Warsaw Stock Exchange leverages technological know-how to create advertising trading platform https://faceovl.com/warsaw-stock-exchange-leverages-technological-know-how-to-create-advertising-trading-platform/ https://faceovl.com/warsaw-stock-exchange-leverages-technological-know-how-to-create-advertising-trading-platform/#respond Tue, 02 Nov 2021 12:51:14 +0000 https://faceovl.com/warsaw-stock-exchange-leverages-technological-know-how-to-create-advertising-trading-platform/ The Warsaw Stock Exchange embarks on advertising. Advertising may not immediately appear as a natural progression for a stock exchange, although the largest stock exchange in Central and Eastern Europe, the Warsaw Stock Exchange (GPW). But it is precisely in the area of ​​advertising that the GPW board of directors decided to continue its policy […]]]>

The Warsaw Stock Exchange embarks on advertising.

Advertising may not immediately appear as a natural progression for a stock exchange, although the largest stock exchange in Central and Eastern Europe, the Warsaw Stock Exchange (GPW).



But it is precisely in the area of ​​advertising that the GPW board of directors decided to continue its policy of diversifying its activities and, in October, announced its intention to develop a dynamic ad insertion application ( DAI) which he called TeO, which will offer broadcasters the possibility of offering the type of tailor-made advertising. and personalized advertisements that have been common on the Internet for several years.

GPW claims that the TeO concept is the result of over a year of market research and has pledged to spend more than 33.3 million zloty (7.23 million euros) for the development of the idea over the next two years, including a grant of PLN 13.34 million from the Polish National Research and Development Center.

Buy and sell

TeO will use cutting-edge technology (including machine learning and neural networks) to ensure high-precision profiling and system operation with minimal delay, enabling the purchase and display of advertisements in near time. real. GPW will take a small fee for each transaction.

Viewers will see ads based solely on their profile, which means targeted marketing campaigns can be deployed more effectively across all platforms, including linear TV.

For GPW CEO Marek Dietl, far from being an irrelevant tangent to the daily activities of the stock market, TeO is in fact a continuation of what it has always done: bringing buyers and sellers together.

“GPW has 30 years of experience in creating and developing trading platforms that effectively connect buyers and sellers,” says Dietl, who adds that it is also a good way to leverage and showcase technological know-how. by GPW.

“We have the means and the technology to securely execute and clear transactions, and we ensure the highest level of data security. With TeO, we want to provide all players in the media market with an independent and modern technological solution. The project will be dedicated to the entire media market, including broadcasters, operators and advertisers.

Credibility

In addition, GPW is likely to bring credibility to a project that would otherwise have been viewed with suspicion by the advertising industry and viewers, according to Witold Kołodziejski, chairman of the National Broadcasting Council of Poland.

“The project is going to need a code of good practice,” he says. “GPW is an important factor in ensuring that this happens. It is an organization with indisputable credibility and independence, which guarantees the transparency and security of the systems of buying, selling, clearing and auditing.

The exchange also already has the support of TV service operators and is in talks with other broadcasters ahead of tests it wants to start in just 12 months, with a view to having the system fully operational within two years. .

“Operators will play an important role as they will be able to provide their set-top boxes to the DAI platform,” says Marcin Grabowski of GPW, who oversees the development of TeO. “Of course, we will also be working very closely with advertisers; we want them to be involved from the early stages of testing.

The Polish television advertising market is currently estimated at around 4.4 billion zlotys per year. According to what the GPW calls “conservative” estimates, the potential for TeO and dynamic advertising insertion represents an additional 660 million zlotys per year.


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