#Upcoming Australian IPOs | Explore Tumblr posts and blogs

melbournenewsvine · 2 years ago

Text

Polestar on track to achieve 2022 delivery target with Q4 boost

Polestar is confident it will be able to achieve its reworked target of 50,000 deliveries this year, with a big boost expected in quarter four to get it over the line. The Swedish-Chinese electric vehicle (EV) maker delivered around 9215 vehicles in the third quarter of 2022, bringing its year-to-date figure to approximately 30,400 cars. In the last quarter (Q4) of 2022, Polestar expects to deliver the roughly 20,000 vehicles it needs to be able to achieve its 50,000 global target for the year. For more Motoring related news and videos check out Motoring >> That Q4 target would be more than double the amount of cars it delivered in the third quarter of this year. Polestar trimmed back its global annual delivery target in May from 65,000 units to 50,000 units due in part to COVID-19 lockdowns in China. “We needed to catch up on production after COVID-19 related setbacks in China and we have,” said Polestar CEO Thomas Ingenlath. “The majority of Polestar 2 cars set for delivery in Q4 are ready and making their way to our customers in 27 markets around the world, with the fourth quarter set to be our strongest on record yet.” “I am confident we will meet our target of 50,000 cars for this year.” Polestar expects to detail its financial and operational results for the third quarter of 2022 on November 11. On the local front, Polestar sold a total of 779 examples of its 2 high-riding liftback until the end of September, according to VFACTS registration data. September saw 85 Polestar 2 models sold, making it the fifth top-selling EV in the record sales month. It was outsold by the Tesla Model Y (4359 sales), Tesla Model 3 (1610 sales), MG ZS EV (185 sales), Hyundai Ioniq 5 (140 sales), and Hyundai Kona Electric (124 sales). Australia is considered an important launch market for Polestar. It currently offers the Polestar 2, but the broad range of future products it is gearing up to reveal are all on track to come Down Under as well. The company recently announced plans to open its first flagship Australian ‘Space’ at Melbourne’s Chadstone Shopping Centre this summer. This will supplement the existing Spaces in Sydney, Brisbane, Melbourne, Perth, and Hobart, but is viewed as a more permanent solution. Polestar also has bold expansion plans. It wants to launch a new model every year between now and 2024, and will expand into 30 markets by 2030. It also intends to grow its sales from 29,000 per year to 290,000 per year by 2025. On October 13, Polestar is revealing the Polestar 3 SUV that will be built on a version of the new electric architecture set to underpin the upcoming Volvo EX90 SUV. The smaller Polestar 4 crossover is set to be revealed in 2023, and the Polestar 5 four-door GT will arrive in 2024 – bringing the Polestar Precept concept car to life. Polestar also recently announced it’s building a production version of its O2 concept, called the Polestar 6, which will launch in 2026. Polestar is a Sweden-based joint venture company run by Volvo and its Chinese parent Geely Holding, and earlier this year was listed on the NASDAQ after a SPAC IPO. MORE: Polestar’s EV order bank expanding rapidly, looks to boost productionMORE: Polestar cuts sales target due to China lockdowns Source link Originally published at Melbourne News Vine

#Melbourne News Vine

0 notes

inventivaindia · 5 years ago

Text

Limeade set for $100M IPO, becoming latest Seattle startup to debut on Australian exchange

Limeade, the Bellevue, Wash.-based human resources technology company, is set to raise $100 million in an initial public offering on the Australian stock market.

Terms of the upcoming IPO put Limeade’s total enterprise value at $454 million, or 5.5 times projected 2020 revenue, according to The Australian Financial Review. The company has raised $34 million in funding as a privately held startup.

View On WordPress

0 notes

blueweaveconsultingreport · 5 years ago

Text

Share Registry Services Market is projected to grow at a CAGR of 6.2% during the forecast period 2019-2025

A Share registry is an element who give the accompanying administrations to the investors for the benefit of the recorded or unlisted organizations: Share register upkeep, getting, approving and preparing of offer moves, Dividend dissemination by all modes including direct store, TT's, cash requests and checks, Dividend Redistribution work, Registration of new investors, taking care of general inquiries and taking care of IPO's.

According to BlueWeave Consulting, the Global Share Registry Services Market is expected to grow at a significant rate during the forecast period. The Global Share Registry Services Market was valued at 2230 million US$ and it is projected to reach the valuation of 3600 million US$ by the end of the year 2025, by growing at a CAGR of 6.2% during the forecast period 2019-2025.

Global Share Registry Services Market: Type Insight

The Global Share Registry Services Market is segmented on the basis of its type, application, and regional demand. Based on its type, the Global Share Registry Services Market is bifurcated into hardware and software. On the basis of its application, the Global Share Registry Services Market is segmented into issuers and investors. Geographically, the Global Share Registry Services Market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Global Share Registry Services Market: Regional Insight

Europe is the biggest sales region of the global Share Registry Services on the globe in the previous scarcely any years. EU market took up about 41.38% the worldwide market in 2016, while the United States was 37.25%, and Australasia is pursued with the offer of about 7.97%. Australia is currently the key engineers of Share Registry Services. The Australian offer vault administration industry has gone about as a semi duopoly for various years, especially among the bigger and consequently increasingly complex records.

Global Share Registry Services Market: Competitive Insight

Computershare, Link Group, Advanced Share Registry, Tricor, Security, Transfer Australia, Boardroom, CDC Pakistan, Automic Pty Ltd., Mainstream BPO, American Stock Transfer & Trust Company, Capita, Escrow Group, Equiniti, Wells Fargo, among others are some of the major players in the Global Share Registry Services Market during the forecast period.

Scope of the Report

By Type

· Hardware

· Software

By Application

· Issuers

· Investors

Don’t miss the business opportunity of Global Share Registry Services Market. Consult to our analyst and gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Share Registry Services Market size & forecast. The report promises to provide state-of-the-art technology of Share Registry Services Market and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.

#Share Registry Services

0 notes

jacobhinkley · 6 years ago

Text

The Daily: Bitcoin Art Merges Canvas and Augmented Reality, Bitmain IPO Update

In today’s edition of The Daily we feature an interesting art exhibition which merges augmented reality technology with oil paintings inspired by Bitcoin and cryptocurrency culture. We also cover updates about the Bitmain IPO, ASX’s “blockchain” deployment and Alexander Vinnik’s extradition case.

Also Read: Binance Wants to Invest in Africa, Reaches Out to African Projects

Bitcoin Art Merges Canvas and Augmented Reality

Scoland-based tech artist, Trevor Jones, has revealed that he will be launching a new series of oil paintings ‘fuelled’ with augmented reality and inspired by cryptocurrency culture at the Dundas Street Gallery in Edinburgh in October. The exhibition, titled “DISRUPTION: The Art of Blockchain” will feature 14 large paintings and accompanying media covering various aspects of crypto and investing. These include portraits of some known figures as well as artwork with titles such as The Ecstasy, The Agony, The Hodler and The Day Trader. Viewers can download an app to scan each piece and trigger the AR features.

Jones explained his choice of subject, stating: “The last 7 years I’ve been focussed on creating innovative art that pushes formal boundaries and adds to the creative knowledge set, that challenges and perhaps even threatens the status quo, and that encourages people to question what a painting can actually be. Bitcoin and other cryptocurrencies are doing similar things with fiat and the financial sector. It made sense to me to try to tie this all together and explore the notion of a crypto themed exhibition.”

youtube

The artist has also ‘annexed’ the Scottish National Portrait Gallery to transform many historical portraits paintings into key figures of the cryptocurrency community. Jones explained, “After researching the world of cryptocurrency this last year for my forthcoming exhibition I discovered many of the key players in the crypto community were regarded almost as royalty. I thought it was fitting that I transform the portraits of some of Scotland’s greatest historical figures; kings, queens, philosophers and scientists, into these new tech entrepreneurs and ‘explorers’ of the 21st century.”

Bitmain IPO Update

Apparently the rumors that a Singaporean sovereign wealth like fund has invested in the upcoming multi billion Bitmain IPO are all just #fakenews. Temasek Holdings Private Limited, the holding company owned by the Government of Singapore, which owns and manages a net portfolio of over $300 billion, has issued a statement rebuking the media speculations about its involvement with the Beijing-headquartered ASIC miner’s producer going public. The company stated: “We have seen commentary about an IPO involving a cryptocurrency company, Bitmain. Temasek is not an investor in Bitmain, and has never had discussions with, or an investment in, Bitmain. News reports about our involvement in their IPO are false.”

ASX Pushes Back “Blockchain” Deployment by 6 Months

In another blow to the hype around corporate blockchains, the Australian Securities Exchange (ASX) has further delayed the deployment of its blockchain-based clearing, settlement and post-trade solution. The exchange asked for feedback about the plan earlier this year and now reveals that respondents “questioned whether the proposed implementation window of Q4 2020 to Q1 2021 was achievable given the significance of the technology change and the range of new scope being introduced.” As a result, ASX has modified the plan and will push back the earliest commencement date for the new system from Q4 2020 to target March-April 2021. This will provide an additional six months for user development and testing.

BTC-e Linked to Russian ‘Fancy Bear’ Hacking Unit?

A new report may explain why the US and Russia are each fighting so hard to ensure that Alexander Vinnik, the suspected BTC-e exchange operator, will be extradited from Greece to their hands and not to the other country’s. Crypto cybersecurity firm Elliptic claims that BTC-e handled some funds linked to ‘Fancy Bear’ – a Russian military intelligence unit that US investigators accuse of hacking Democrats’ emails ahead of the 2016 presidential elections. “There was a strong link between much of the funds allegedly used by the Fancy Bear group and BTC-e,” said Tom Robinson, Elliptic’s chief data officer. “What I can’t say for certain is whether Fancy Bear obtained them directly from BTC-e, or whether there was an intermediary.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Bitcoin Art Merges Canvas and Augmented Reality, Bitmain IPO Update appeared first on Bitcoin News.

The Daily: Bitcoin Art Merges Canvas and Augmented Reality, Bitmain IPO Update published first on https://medium.com/@smartoptions

0 notes

bowsetter · 6 years ago

Text

The Daily: Bitcoin Art Merges Canvas and Augmented Reality, Bitmain IPO Update

Also Read: Binance Wants to Invest in Africa, Reaches Out to African Projects

Bitcoin Art Merges Canvas and Augmented Reality

youtube

Bitmain IPO Update

ASX Pushes Back “Blockchain” Deployment by 6 Months

BTC-e Linked to Russian ‘Fancy Bear’ Hacking Unit?

What do you think about today’s news tidbits? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

The post The Daily: Bitcoin Art Merges Canvas and Augmented Reality, Bitmain IPO Update appeared first on Bitcoin News.

READ MORE http://bit.ly/2oPt3cF

#cryptocurrency #cryptocurrency news #bitcoin #cryptocurrency market #crypto #blockchain #best cryptocurren

0 notes

un-enfant-immature · 6 years ago

Text

Airwallex raises $80M for its international payment service for businesses

Airwallex, a three-year-old fintech startup focused on international payments for SMEs and businesses, is putting itself on the map after it raised an $80 million Series B round.

Based of out of Melbourne, but with six offices in Asia and other parts of the world, Airwallex’s new funding round is the second largest financing deal for an Australian startup in history. The round was led by existing investors Tencent, the $500 billion Chinese internet giant, and Sequoia China. Other participants included China’s Hillhouse, Horizons Ventures — the fund from Hong Kong’s richest man Li Ka-Shing — Indonesia-based Central Capital Ventura (BCA) and Australia’s Square Peg, a firm from Paul Bassat who took recruitment firm Seek to IPO and is one of Australia’s highest-profile founders.

The financing takes Airwallex to $102 million raised. Tencent led a $13 million Series A in May 2017, while Square Peg added $6 million more via a Series A+ in December. Mastercard is also a backer; the finance giant uses Airwallex to handle its “Send” product while Tencent uses the service to power an overseas remittance service for its WeChat app.

Airwallex handles cross-border transactions for companies that do business in multiple countries using international currencies. So it’s not unlike a Transferwise-style service for SMEs that lack the capital to develop a sophisticated (and expensive) international banking system of their own.

The service uses wholesale FX rates to route overseas payments back to a client’s domestic bank and is capable of processing “thousands of transactions per second,” according to the company. A use case example might include helping a China-based seller return money earned in the U.S. or Europe via Amazon or other e-commerce services, or route sales revenue back directly from their own website.

Airwallex CEO Jack Zhang (far right) on stage at TechCrunch Shenzhen in 2017

China is a key market for Airwallex — which was started by four Australian-Chinese founders — as well as the wider Asian region, and in particular Australia, Hong Kong and Southeast Asia. With this new capital, Airwallex co-founder and CEO Jack Zhang said the company will increase its focus on Hong Kong and Southeast Asia, whilst also extending its business in Europe (where it has a London-based office) and pushing into North America.

Product R&D is shared across Melbourne and Shanghai, while Hong Kong accounts for business development, compliance and more, Zhang explained. However, Airwallex’s locations in London and San Francisco are likely to account for most of the upcoming headcount growth planned following this funding. Right now, Airwallex has around 100 staff, according to Zhang.

The company is also aiming to expand its product range, too.

The firm is in the process of applying for a virtual banking license in Hong Kong, a third-party payment license in mainland China, and a cross-border Chinese yuan license. One goal, Zhang revealed, is to offer working capital loans to SMEs to help them to scale their businesses to the next level. Airwallex is working with an undisclosed partner to underwrite deals in the future. Zhang explained that the company sees a gap in the market since banks don’t have access to critical data on clients for loan assessments.

More generally, he’s bullish for the future despite Brexit and the ongoing trade war between the U.S. and China.

“The trade war gives the Chinese yuan a lot of vitality, and we’ve seen more demand in the market. China’s belt road initiative has really taken off, too, and we’re seeing the impact in many many of our payment corridors,” he explained. “Business has been booming, especially as traditional offline SMEs start to move online and go from domestic to global.”

“We want to be the backbone to support these new opportunities for businesses,” Zhang added.

#TechCrunch

0 notes

tradetracker · 2 months ago

Text

Stay Ahead With The ASX IPO Calendar

Looking for new investment opportunities? Kalkine Media’s ASX IPO Calendar keeps you updated on upcoming IPOs on the Australian Stock Exchange. Discover the latest companies going public and seize the chance to invest early. Stay informed and make smart investment decisions.

#ASX IPO Calendar #Upcoming IPO #Upcoming IPOs on ASX #Upcoming Australian IPOs #australia #finance #stock market

0 notes

techsuvichar · 5 years ago

Video

youtube

Will delay in monsoon affect your strategy of investment?

This year's low rainfall is estimated. By Wednesday, the rain was 37 percent lower than its long-term average. But analysts are not worried over this matter. He believes that the effect of less rain will not be so high that the Reserve Bank of India (RBI) has to reduce interest rates in August.

However, due to weakness in rural areas, pressure on sectors related to consumption may be seen. If the government does not announce any relief in the upcoming budget, such a situation can come. Usually, by the middle of June, the monsoon reaches two-thirds of the country. On June 25 this year, it reached only half the count.

The sowing of kharif crops is a decline of 12.5 percent compared to year-on-year. This year's rainfall deficit has also gone up from 38 percent to 45 percent. In India, half of the foodgrain production and 5 percent of the GPD comes from Kharif crops.

Kharif crop depends mainly on the monsoon. Good crop brings prosperity to the rural areas. This increases rural income and increases expenditure. However, brokerage firm UBS believes that good rainfall does not necessarily increase rural income.

According to the Australian Meteorological Department, the impact of El Niño on the monsoon has reduced in India. Due to positive change in the Indian Ocean, monsoon will get support. UBS said, "If the monsoon rises fast, it will have a positive impact on the consumer-related sector and the entire market."

The brokerage has expressed its hope that Nifty will reach 12,000 by the end of December. It said that the relationship between monsoon and inflation has been weak in recent times. Improvement in supply chain has improved domestic and global supply.

The Consumer Price Index (CPI) or inflation rate is 46 per cent of the consumption of food items. But there is only 22 per cent impact on monsoon directly on the CPI. Analysts believe that the government has a large stock of foodgrains. Storage of wheat and rice is up to 4 times.

Emphasis will be on the rural situation In the rural areas, there is a sluggish challenge in demand. According to Goldman Sachs, January-March quarter was the first time in the last 10 years, when revenues growth of 17 companies on its radar decreased. The brokerage believes that this trend will continue for the next two quarters because it will take time to show the effect of official steps.

Prabhudas Liladhar said that in the coming 5 to 6 days the rain can reach many corners of the country. This will help to increase crop sowing and agricultural production. However, it has to be seen how the monsoon moves forward. It must also be seen how much rain is received in the next three months. It will also be important for Agrochem companies.

Centrum Broking has expressed hope of providing relief from the government to rural India. Trading Bells co-founder and COO Partha Nyati said that FMCG shares can benefit from lower revenues in rural earnings, while more improvement will benefit auto companies.

Stock Market, Market analysis, IPO, Market news,

0 notes

legit-scam-review · 6 years ago

Text

From Mining Companies to Exchanges

Last week, at least two crypto-related enterprises, a Silicon Valley stock and cryptocurrency trading platform Robinhood and Singapore-based crypto exchange Huobi, moved closer to going public by holding an initial public offering (IPO).

The ‘old school’ way to collect investments might seem especially attractive in the context of mass adoption trends and a declining ICO market, which now sees its hardest slump in 16 months. But what is an IPO exactly, and which crypto-related companies have chosen to go public?

What’s an IPO?

For those who know what an Initial Coin Offering (ICO) is, the concept of initial public offering (IPO) — a more traditional way for a company to seek investments from broader audience in the public market — should seem familiar. The main difference between the two is that an ICO gives out tokens — whose use case is based on the company’s performance — while an IPO gives investors stock ownership in a company.

An IPO, or stock market launch, is when a company sells its shares to institutional investors and retail (individual) investors. This process is significantly more regulated compared to the ICO market: An IPO has to be supervised by regulators — like the United States Securities and Exchange Commission (SEC) — and be underwritten by one or more investment banks. The so-called ‘underwriters’ manage the process, negotiate with the SEC and help its client get listed on a stock exchange. In the end, they collect commision on the raised funds.

Once the company gets listed on a stock exchange, say the NASDAQ in New York, it goes public — i.e., its shares are traded freely in the open market. Importantly, the company is now bound to comply with the watchdogs and keep its investors in the loop by publishing information regarding internal operations.

Holding a successful IPO includes a number of potential benefits, like attracting capital from a larger amount of investors, diversifying equity base and increasing the overall exposure and prestige of the company. Consequently, there are disadvantages as well, some of which include risks which include not enough capital being raised, legal costs and the requirement to disclose sensitive financial information.

Normally, ICOs allow investors to pay with crypto — usually Ethereum (ETH) — hence remaining somewhat anonymous, while IPO investors are limited to fiat money. However, in August, marijuana culture media group High Times Holding Corp. announced it would accept Bitcoin (BTC) and ETH in its upcoming IPO, making it the “first traditional stock offering ever to accept investments” in digital currencies. Despite the SEC later claiming that High Times will not be supporting cryptocurrencies as payment for shares, the media representative Jon Cappetta has since confirmed that the company is, in fact, technically accepting BTC and ETH as payment options, although now the digital money will be converted into U.S. dollar by a third-party company to meet the SEC’s requirements.

Alternatives to IPOs: Shortcuts to the public

Beside the traditional IPOs described in the section above, there are some alternative ways for a company to go public — namely the reverse IPO and Dutch IPO.

A reverse IPO, or a reverse takeover, is a way to bypass at least some of bureaucratic scrutiny involved in the process and go public with less hassle. To conduct a reverse IPO, a private company should buy enough shares to control a publicly traded company (also referred to as the shell). After that, the shareholders of the private company merge the shell company with their enterprise and exchange their shares for a majority of the shares of the public company.

At that point, they have gone public without having to go through the aforementioned process of a traditional IPO. In countries like the U.S., such a company will still have to disclose the information regarding the deal to the SEC, however “there are no registration requirements under the Securities Act of 1933 as there would be for an IPO,” as the regulator mentions on its website. Moreover, if the reverse-merger company’s securities are listed and traded on an exchange, the listed company must still meet the exchange’s initial listing standards to qualify for listing — however, the overall process is still much cheaper and faster in the end.

Dutch IPOs, in turn, are more similar to ICOs — they represent a way to raise money directly from the public instead of holding a conventional IPO, where investment banks would take their cut in the process.

During a Dutch IPO, as per Investopedia, potential investors submit their bids for the number of shares they want to buy and the price they are willing to pay for them. Once the bids are entered, “the allotted placement is assigned to the bidders from the highest bids down, until all of the allotted shares are assigned.” The price is based on the last successful bid. Perhaps the largest company at least remotely related to crypto that has gone public through a Dutch IPO is Patrick Byrne’s Overstock.com.

Australia and the U.K.: First crypto IPOs

Although the majority of crypto firms still rely on ICOs — as Block.one’s June offering showed — investors are still ready to pump record-breaking amounts of money into an unreleased product, and some of the players have already gone public through IPOs.

An apparent first was almost secured by an Australian-based Bitcoin mining firm Bitcoin Group Ltd., who was set to become the world’s first crypto firm to be traded on a stock exchange. It submitted its first prospectus to the Australian Stock Exchange (ASX) back in 2015, and after a series of delays caused by the Australian Securities and Investment Commission (ASIC) interference, raised a modest 5.9 million Australian dollars during its IPO, severely missing its AU$20 million goal. The ASX then raised concerns regarding Bitcoin Group’s capital, and the company chose to withdraw from the stock market.

Since then, the ASX has seen at least two more successful crypto-related applications: A fintech startup Kyckr, which uses blockchain for its corporate identity management platform, was listed on the stock exchange in 2016 after raising $5.2 million; and Identitii, a blockchain-based software outfit that helps financial institutions exchange payment information, which was listed on the ASX after its $11 million IPO in August 2018. While it is yet unclear how Identitii will perform, Kyckr shares are now being traded at 12 cents, despite being initially sold for 20 cents.

Another country that has hosted crypto-related IPOs is the United Kingdom. Back in December 2015, Coinsilium, a firm which provides advisory services to blockchain projects, was listed on the ISDX Growth Market in London, becoming the world’s first blockchain company to float, according to Financial Times. Coinsilium issued 10,000,000 ordinary shares at approximately 13 cents per share and raised one million pounds ($1,3 mln) in gross proceeds, becoming “the world’s first IPO of a blockchain technology company,” as Cameron Parry, Coinsilium’s executive chairman, commented on the news. The company’s shares trade at approximately 9 cents as of press time.

Moreover, in August 2018, mining firm Argo Blockchain PLC, which offers customers the ability to mine four cryptocurrencies — Bitcoin Gold (BTG), Ethereum (ETH), Ethereum Classic (ETC) and Zcash — became the first crypto company to join the London Stock Exchange (LSE), raising around $32 million for a total valuation of about $61 million. It sold a total of 156,250,000 ordinary shares that represented 53.2 percent of the firm’s issued share capital at around 21 cents per share. Argo’s stock shares are being sold for approximately 23 cents, as of press time.

Hong Kong: Main frontier for China’s biggest mining players

The biggest player to join the IPO race might be Bitmain, an extremely successful Chinese mining company with around $3.5 billion in profit generated in 2017 — arguably one of the most influential businesses in the industry. Specifically, Bitmain develops high-grade Bitcoin mining hardware and has huge mining capabilities.

In June, media started to report that Jihan Wu, the co-CEO of Bitmain, was planning to conduct an overseas IPO in a market with U.S. dollar denominated shares — like Hong Kong — as it would allow early backers to cash in funds.

Later in July, a research unit for crypto exchange BitMEX analyzed leaked data on Bitmain’s potential IPO and stated that the mining giant had conducted a pre-IPO round that allegedly raised around $14 billion, leading them to believe that it could raise no less than $20 billion at the IPO stage.

Nevertheless, as Cointelegraph reported earlier, there had been a lot of rumors and uncertainty around Bitmain’s upcoming IPO. For instance, though DST Global and Japan’s SoftBank were initially listed among possible investors, they have since denied their involvement. Nevertheless, if Bitmain IPO ever does happen, it’s likely to affect the crypto industry simply due to the scale of the operation.

Still, Bitmain might be outraced by some of its compatriots: Both Canaan Creative, China’s second-largest BTC mining hardware manufacturer, and its competitor Ebang Communication have announced their plans to conduct IPOs on the Hong Kong Stock Exchange (HKEx), which is yet to list crypto-related stocks. Interestingly, both Canaan’s and Ebang’s estimated goal is $1 billion, which is still modest compared to Bitmain’s whooping $20 billion.

Significantly, to accommodate the rising amount of fintech-based IPOs, the HKEx announced in August a new blockchain-powered private market. Called the HKEx Private Market, it focuses on helping smaller startups get their financing through pre-IPOs before entering the bigger market and facing the regulators’ supervision. It is set to be launched by the end of the year, according to the stock exchange’s chief executive Charles Li:

“We plan to launch a completely new venture called the HKEX Private Market in 2018 to provide early stage companies and their investors with a share registration and transfer platform based on blockchain technology so they can conduct pre-IPO financing and other activities on an off-exchange venue not under the regulatory remit of the Securities and Futures Ordinance. The Private Market will serve as a ‘nursery’ for early stage companies before they are ready to enter public markets.”

The reverse IPO: Simpler, but not necessarily a successful way for crypto companies

On Aug. 29, the Hong Kong Stock Exchange (HKEx) announced that Huobi had acquired controlling stock interest in Hong Kong-based electronic products manufacturing firm Pantronics Holdings Ltd.

Huobi reportedly seized an overall stake of 71.67 percent in Pantronics, alongside blockchain services provider platform Fission Capital — at a breakdown of 66.26 percent and 5.41 percent respectively.

Huobi’s purchase had the apparent signs of being a reverse IPO. However, Sandy Peng, a partner at Fission Capital, told Cointelegraph that “for the time being, this is a straight forward acquisition […] As stated in the announcement, Huobi intends to start new blockchain-related businesses using this entity.”

Indeed, the reverse IPO way, despite being cheaper and faster, has not proven to be fruitful for crypto companies: On Aug. 1, when crypto evangelist Mike Novogratz’s crypto-focused merchant bank Galaxy Digital made its trading debut on Toronto’s TSX Venture Exchange, the largest stock exchange in Canada, it shares plunged 20 percent.

Lacking the two years’ of audited financials required for a U.S. IPO, Novogratz instead acquired a Canadian crypto start-up Coin Capital, which he then merged with an already TSX-listed Canadian shell company Bradmer Pharmaceuticals.

Before approving the listing, Canadian regulators subjected the firm to close scrutiny and pushed back its trading debut from April to August, during which a protracted downtrend in the crypto markets saw BTC below $6,000.

The U.S. SEC advises investors to be extra cautious when investing in the stocks of reverse merger companies.

From Coinsquare to Coinbase: More potential IPOs on the horizon

In September, Techcrunch reported that Robinhood, a stock and cryptocurrency trading platform with five million customers, was looking for a chief financial officer (CFO) to navigate the company through the path to an IPO. The Silicon Valley startup is already undergoing a series of audits from the SEC and the Financial Industry Regulatory Authority (FINRA) to ensure regulatory compliance.

Coinsquare, one of Canada’s largest cryptocurrency exchanges, is aiming to hold an $120 million IPO in September to facilitate overseas growth, according to the Bloomberg report. Interestingly, Coinsquare plans to sell its shares on the main Toronto Stock Exchange, “in contrast to several crypto companies which have used a shortcut to list on Canada’s junior TSX Venture Exchange in recent months via reverse takeovers,” as the media points out.

Interestingly, Coinsquare chief executive officer Cole Diamond insisted that Coinsquare was not taking the reverse IPO route, saying:

“Hell no. We believe that there are a tremendous amount of low-quality deals going public.”

Another major America-based crypto exchange, Coinbase, which has a reputation for being fully compliant with regulators, has also been flirting with the idea of holding an IPO since December 2017, but is yet to disclose any concrete details on going public. Meanwhile, all eyes are on Bitmain and its competitors, who are racing to enter the blockchain-friendly Hong Kong market.

Most Popular 2

Bit Bubble Tech – Learn How To Profit Big When Bitcoin Bubble Bursts?

If you have not already heard of the Bit Bubble Tech App, you undoubtedly wish to read this Bit Bubble Tech Review. We ...

User rating:

9.3

Free For 90 Days Get It Now

Read full review

The post From Mining Companies to Exchanges appeared first on Review: Legit or Scam?.

Read more from → https://legit-scam.review/from-mining-companies-to-exchanges

0 notes

latestnews2018-blog · 6 years ago

Text

Airwallex raises $80M for its international payment service for businesses

New Post has been published on https://latestnews2018.com/airwallex-raises-80m-for-its-international-payment-service-for-businesses/

Airwallex raises $80M for its international payment service for businesses

Airwallex, a three-year-old fintech startup focused on international payments for SMEs and businesses, is putting itself on the map after it raised an $80 million Series B round.

Based out of Melbourne, but with six offices in Asia and other parts of the world, Airwallex’s new funding round is the second-largest financing deal for an Australian startup in history. The round was led by existing investors Tencent, the $500 billion Chinese internet giant, and Sequoia China. Other participants included China’s Hillhouse, Horizons Ventures — the fund from Hong Kong’s richest man, Li Ka-Shing — Indonesia-based Central Capital Ventura (BCA) and Australia’s Square Peg, a firm from Paul Bassat, who took recruitment firm Seek to IPO and is one of Australia’s highest-profile founders.

The financing takes Airwallex to $102 million raised. Tencent led a $13 million Series A in May 2017, while Square Peg added $6 million more via a Series A+ in December. Mastercard is also a backer; the finance giant uses Airwallex to handle its “Send” product, while Tencent uses the service to power an overseas remittance service for its WeChat app.

Airwallex handles cross-border transactions for companies that do business in multiple countries using international currencies. So it’s not unlike a TransferWise-style service for SMEs that lack the capital to develop a sophisticated (and expensive) international banking system of their own.

Airwallex CEO Jack Zhang (far right) onstage at TechCrunch Shenzhen in 2017

The company is also aiming to expand its product range.

The firm is in the process of applying for a virtual banking license in Hong Kong, a third-party payment license in mainland China and a cross-border Chinese yuan license. One goal, Zhang revealed, is to offer working capital loans to SMEs to help them scale their businesses to the next level. Airwallex is working with an undisclosed partner to underwrite deals in the future. Zhang explained that the company sees a gap in the market since banks don’t have access to critical data on clients for loan assessments.

More generally, he’s bullish for the future, despite Brexit and the ongoing trade war between the U.S. and China.

“The trade war gives the Chinese yuan a lot of vitality, and we’ve seen more demand in the market. China’s belt road initiative has really taken off, too, and we’re seeing the impact in many, many of our payment corridors,” he explained. “Business has been booming, especially as traditional offline SMEs start to move online and go from domestic to global.”

“We want to be the backbone to support these new opportunities for businesses,” Zhang added.

0 notes

leegooch096435-blog · 7 years ago

Text

Planeamiento Didáctico O Programación Del Aula

Wedding celebrations are among the most beautiful celebrations to ditch, so you would like to obtain that right. Please details that today's phone call is being taped and also is actually likewise being actually broadcast live online on the Dean Foods' business website. So I am actually going to have a much more empirical method, and examine the prices of two brand-new Australian rail ventures - the Mandurah rail line in Perth and also the Epping-Chatswood series in Sydney. Earlier today our team disclosed incomes each portion of $0.99 for the fourth, featuring a lot of one-time things largely associated with the acceptance from new tax legislation. Individuals invest a ton of time connecting along with others as well as examining on what people are actually doing, and also you can easily fail to remember to look after yourself. Thus one piece our team performed provide a little bit from direction in my remarks I could talk with, possibly assist you rationalize this is our team claimed exclusively on that personal financing, the sub sectors of the private finance publication. Along with ribald wit, whimsicality, as well as extraordinary knowledge, Alan effortlessly moves back and also forth on time, combining stories off his youth in Scotland as well as his adventures today as the renowned actor of stage, tv, and also film. Thus that can help jump-start your morning physical exercise program, listed here are actually 18 effortless ways to suit your workout session before the remainder from your time starts, plus suggestions from people that know firsthand the advantages of an early-morning sweat treatment. One should acknowledge that for a historical event to develop, like awful first-day functionality from an IPO in 17 years, the customary problems in the IPO market need to possess been an aspect. Scene Gold has a large task in Australia got in touch with Mt Todd (8 thousand oz at8 gpt, along with 82% recovery price). Property powerful labels is actually a key pillar from our tactic, and also our team'll continuously construct our DairyPure brand name in 2018 click through the up coming post product innovation and advertising and marketing. There's a significant distinction between both, though: The last is actually totally free, whereas The Well sets you back $5. Goldstein chalks that up to that the GearVR system as a whole accommodates towards informal customers which do not invest amount of money on activities as well as very likely got their headset as part of a coupon. The cash expenses at Bermegas are actually forecasted to be really reduced, around $500 every ounces. A lot of opportunities when we succeed the private tag offer, of course, our experts acquire the top quality service that accompanies it. I think this is actually a mix that our experts are actually simplied with. While the potential is still there certainly, we perform not see double- or even triple-digit growth in the business's reveal rate in the current year. The funds are simply too big to produce better compared to market profits - The bigger an expenditure portfolio ends up being, the harder this ends up being to actively upload far better profits in comparison to the standard stock exchange considering that the fund becomes confined by just what that could get.

You can review a book or perform your makeup as you partake face of the lighting box and receive some energy-generating early morning lighting to kick-start your day, as well as established your own self up for a more relaxed rest the upcoming evening. You may don't forget when folks would relate to me and say that provider An or even provider B would certainly be low on pellets as well as I made use of to state, so just what. And also although I personally 'know' chilly pocketbooks, and how to prudently possess cryptocurrencies, it is actually nearly unbelievable to view such a huge personality shift, thus quickly, all basically in 2017. While Promise and Predicament were actually killing time in the snug from everyone residence created right into the foundation from their secret clocktower safe house, a woman pertained to employ them (inquiring after the Clockworkers, so right now they have a name).

0 notes

margueritehoutma-blog · 7 years ago

Text

ADS 6. Off That Performed Not Follow The Script.

Family lendings are an excellent way from evolving funds to your grown-up youngsters or even near family members at little danger. Along with boosted money entering into the house, a singular moms and dad could eliminate several of the tension that makes that complicated to become a successful moms and dad. As an example, one year one parent has the youngsters in the early morning and also the upcoming year the mid-day; through this there is actually justness for devoting quality opportunity along with the kids on holidays. Sometimes people swipe the Black Friday adds out of a paper, leaving you really feeling brushed off. This Australian parent visa also makes the recipient eligible to make an application for Australian citizen ship based on post degree residency qualifications standards. A surprising Forty Five percent of dark little ones whose parents were steadily center profit wind up falling to the bottom profit quintile, while only 16 per-cent from white little ones born to moms and dads in between make this descent," she created. These plans, in addition to Alcoholics Anonymous will definitely assist you in taking please click the next document ideal actions that can help the alcohol consumption moms and dad. The TC's assistance from the prey moms and dad will sound extra honest, and also they may mention far more close instances of affection as well as support by the prey moms and dad. I am an African United States as well as well as several of things that I see area are actually truly discouraging occasionally. They could drop some weight but once they cease, they get that straight back. Like instruction for a black waistband this sort of practice will definitely never actually get our company the black waistband. I was interested in this room because of the flexibility it permitted our team in relations to oversteping the socially imposed boundaries from gender that our company confronted growing up as pair of vulnerable younger dark men in the USA. The set of options that delivered all of them to old age were actually certainly not selections that ever before expected this aspect of their life. Given that black males don't praise the Church from Tyler Perry and also his dark man off-putting creations, they are actually angry. Novartis invested $ONE HUNDRED thousand in share in moms and dad business Ionis and agreed to buy $FIFTY thousand in Akcea's IPO. We all recognize that black is actually a slendering color and also the dark outfits are actually wardrobe staple that lady must not do without, regardless of her physique. Old Mutual Riches's pre-tax fine-tuned operating profit rose by 29 per-cent in the first fifty percent to 134 million pounds. Nissan decreased to verify when its next-generation Titan will certainly enter manufacturing, but market vendors knowledgeable about the firm's strategies mentioned they assume the new vehicle to arrive upcoming year as a 2015 design. For a grown-up, eating in a premium restaurant and also having some free of charge hrs in the evening is actually much the same as a treat of popcorn, a soda pop, and an activity of Old House maid is actually for a youngster. If the non-custodial parent has had a higher-paying job, or recently obtained a raising at the office, at that point you could petition the court of law for an adjustment in the present help routine. Effectively in my very own technique I could contend, however that is actually the aged females must perform whatever far better to achieve the exact same.

The best perk from becoming a good moms and dad is that you are obliged to far better your own routines for the sake of the kids. So not merely are dark Americans still low-grade compared to whites, the possibilities are higher that they will certainly remain that way.

0 notes

omcik-blog · 8 years ago

Text

New Post has been published on OmCik

New Post has been published on http://omcik.com/how-japan-posts-big-global-bet-unraveled-reuters/

How Japan Post's big global bet unraveled | Reuters

By Thomas Wilson and Byron Kaye | TOKYO/SYDNEY

TOKYO/SYDNEY In February 2015, bankers working on Japan’s biggest IPO in three decades woke to news that left them shaken. Their client had just closed a multi-billion dollar deal – but had kept them firmly out of the loop.

Just months ahead of its listing, state-owned Japan Post Holdings Co (6178.T) was buying Australian logistics firm Toll Holdings for A$6.5 billion ($4.9 billion), leaving underwriters scrambling to understand the impact on the selldown.

“My heart skipped a beat when I read the Nikkei (newspaper) that morning,” one banker who worked on the deal told Reuters. “Clients have to be honest and at least tell us before making the deal, since it would impact the sale price and business forecasts.”

They were right to worry. Barely two years after trumpeting the deal, Japan Post last week said a 400 billion yen ($3.6 billion) writedown on Toll would push it to an annual loss in its first year as a listed company.

The massive impairment charge has drawn into focus the deal’s rich premium, speed and timing, raising questions over Japan Post’s due diligence and its plan to integrate Toll’s sprawling business into a global conglomerate spanning postal delivery, banking and insurance.

Japan Post acknowledged concerns over the due diligence process and its management of the company, but blamed the writedown on worse-than-expected economic pressures.

“During the acquisition, due diligence was implemented taking into account the opinion of accounting, taxation, legal and financial experts,” said Hideo Murata, a spokesman for Japan Post. “Commodity prices fell faster than we had thought, and we couldn’t imagine the direct impact on Toll’s earnings.”

The saga may further undermine Japanese efforts to persuade investors to believe in its corporate governance reforms which have been shaken by high-profile failures of foreign takeovers by companies including Toshiba Corp (6502.T) and Kirin Holdings Co Ltd (2503.T).

For Tokyo, it also comes as the government prepares a second offering of shares in Japan Post. In total, it plans to raise around 4 trillion yen through the privatization.

Japan’s Ministry of Finance declined to comment on whether it would investigate the Toll deal.

An official overseeing the second offering told Reuters: “As for the timing and the size of the next tranche of Japan Post IPO, we will deal with it appropriately while continuing to monitor market developments,”

Investment banks coordinating the 2015 and upcoming share sales declined to comment.

HIGH PREMIUM

Then-Chief Executive Taizo Nishimuro saw the Toll deal as the crucible in which Japan Post would transform itself into a global logistics powerhouse and lend stardust to its IPO.

Toll had excellent growth potential and a balanced portfolio of business, Japan Post said.

Under the ambitious Nishimuro – a former chairman of Toshiba and the Tokyo Stock Exchange – Japan Post hired Mizuho Financial Group (8411.T) and Australian boutique firm Gresham Partners as financial advisers. Sydney-based Clayton Utz came on as legal adviser.

Mizuho, Gresham and Clayton Utz all declined to comment.

The final offer – at a hefty 49 percent premium to Toll’s share price a day earlier – was unanimously accepted by Toll’s board.

Though criticized as high by some analysts, a person with direct knowledge of the deal said the premium was in line with other deals in the global logistics industry. The roots of the writedown were in the management of Toll after the takeover, not in the terms of the deal, the person added.

Last year, rail-based Australian freight firm Asciano Ltd, bowed to a A$6.8 billion buyout at a 39 percent premium to its pre-bid price after a six-month bidding war, while UK Mail accepted a 242.7 million pound offer by Germany’s Deutsche Post (DPWGn.DE) at a 43.1 percent premium.

EARLY WARNINGS

Still, the divide between the offer and Toll’s challenges became apparent on Feb. 18, just a day after the parties announced the deal, when Toll unveiled a 22 percent fall in half-yearly net profit.

“Had (Japan Post) actually delayed that announcement of the acquisition, they probably would have saved themselves 10, maybe 20 percent,” said an analyst who in 2015 rated the uncontested offer as well above Toll’s valuation.

The economic keystones of Toll’s business had shifted.

A sharp slowdown in Australia’s mining and steelmaking industries had cut freight demand, while the hollowing out of the country’s manufacturing base was also hitting margins and demand for haulage.

“It’s been tough the last two or three years,” said Paul Sarant, chief executive of No. 3 Australian trucking firm K&S Corp Ltd (KSC.AX).

“We’re all focused in terms of reducing cost, improving our performance and through the whole freight network trying to optimize the efficiencies.”

Toll was also facing internal issues, brought about by its ambitious growth strategy.

Between 2001 and 2013 Toll had bought over 20 companies from Southeast Asia to Africa, leaving it wrestling with duplication of technology, staff and, in the case of couriers, entire lines of business.

“These units effectively go out to market separately from each other and they’re actually in the market against each other for work,” said Transport Workers Union assistant secretary Michael Kaine.

Jeffrey Luckins, an audit director and due diligence specialist at Australian accounting firm William Buck, said it appeared Japan Post had missed the big picture.

“Did they have the right experts on hand? Did they ask the right questions? Did they bring economists in? If they’ve written off (almost) the entire value of the investment, one assumes that the assumptions that have been made … were incorrect.”

Japan Post had warned investors in its IPO prospectus that managing Toll’s web of acquisitions could be difficult. But despite its awareness of potential risks, Toll’s high fixed costs eroded profits as economic factors began to bite, Japan Post’s Murata said.

“We were aware of the drop in Toll’s earnings between the takeover and the writedown, and took steps to address it. It was not the case that we did nothing and watched,” he said.

Decisions by Toll’s management, 80 of whom were made millionaires when their share options vested after the takeover, continued to face scrutiny.

In September, for example, the company announced it was paying A$170 million for two new ships to link the island state of Tasmania with the Australian mainland.

But at 210 meters, the ships were too long for Toll’s dock at the Tasmanian port.

A Toll spokesperson declined to comment on the Tasmanian situation except to say: “We are working closely with port authorities to finalize the details.”

Top Toll managers including chairman Ray Horsburgh and chief executive Brian Kruger left the company in December. Kruger did not respond to requests for comment while Horsburgh declined to comment.

Paul Little, who ran Toll for two decades until 2010 and was the architect of its aggressive growth strategy, also declined to comment for this report.

But after last week’s announcement of the writedown and the loss of 1,700 Toll jobs, Little told The Australian newspaper the company’s “legacy has been trashed” and said he stood by his contribution.

“There is not much I can do about the fact that Japan Post overpaid for the company and I had a reasonable shareholding,” said Little, who made A$320 million on the sale of his 5 percent stake.

(Refiles to add dropped word in paragraph 7.)

(Additional reporting by Emi Emoto and Tetsushi Kajimoto in TOKYO; Editing by Lincoln Feast)

0 notes