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AirAsia chief to scout for more fundraising after SPAC listing

Livemint

Livemint · 1y ago

AirAsia chief to scout for more fundraising after SPAC listing

AirAsia CEO Tony Fernandes plans to seek additional funding in Southeast Asia's equities markets after the company's planned SPAC listing in the US later this year. Fernandes mentioned possible options for fundraising, such as revisiting plans for an IPO of aviation assets in the Philippines and doing a share placement in Indonesia. He also expressed intentions to eventually list nonaviation units. AirAsia, Southeast Asia's largest budget carrier, aims to recover from the pandemic and expand globally, with plans to fly to major destinations worldwide. The company's future success depends on the recovery of air travel and operational improvements across Asia.

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Shein steps up London IPO preparations amid US hurdles to listing

Economic Times

Economic Times · 1y ago

Shein steps up London IPO preparations amid US hurdles to listing

Shein, the fast-fashion retailer, is reportedly preparing for a London listing after facing obstacles for its planned IPO in the US. The company, valued at $66 billion in a fundraising round last year, has engaged with financial and legal advisors in London and has approached London-based fund managers. While the US IPO plan is still being considered, Shein is looking to file with the London Stock Exchange as early as this month. It may also pursue a secondary listing in the US at a later date.

Budget airline AirAsia gets $443 Million private credit funding to refurbish planes grounded during pandemic | Mint

Livemint

Livemint · 1y ago

Budget airline AirAsia gets $443 Million private credit funding to refurbish planes grounded during pandemic | Mint

Budget carrier AirAsia has secured a $443 million dual-tranche private financing deal to partially fund the refurbishment of grounded planes. Private credit funds Ares Management and Indies Capital Partners provided a $200 million tranche for the refurbishment, while aircraft lessors provided the remaining $243 million to refinance lease liabilities. The financing is structured as privately-placed bonds linked to revenue, secured by the sale of future airline tickets. AirAsia has previous experience with private credit, having raised $100 million in April 2023 for its maintenance affiliate Asia Digital Engineering.

Retail trading platform eToro targets $4 billion valuation in US IPO

Economic Times

Economic Times · 3m ago

Retail trading platform eToro targets $4 billion valuation in US IPO

Israel's eToro Group plans to go public in the United States with a target valuation of up to $4 billion. The retail trading platform aims to raise $500 million by offering 10 million shares priced between $46 and $50 each. This move follows improved stock market conditions. eToro, which allows trading in stocks and cryptocurrencies, previously planned a public listing via a SPAC merger. With over 40 million users, it will list on Nasdaq under the symbol ETOR.

Virtual reality startup Immersed to go public via SPAC deal

Economic Times

Economic Times · 2y ago

Virtual reality startup Immersed to go public via SPAC deal

Immersed, a virtual reality startup, is set to go public through a Special Purpose Acquisition Company (SPAC) deal. This move highlights Immersed's strategic approach to entering the public market, utilizing the SPAC route for its initial public offering (IPO). The decision reflects the company's ambition to tap into investor interest and capitalize on the growing demand for immersive technology solutions.

Sebi chairman hints at introducing regulated platform for pre-IPO companies

YourStory

YourStory · 7d ago

Sebi chairman hints at introducing regulated platform for pre-IPO companies

SEBI Chairman Tuhin Kanta Pandey announced the potential introduction of a pilot regulated platform for trading pre-IPO companies. This platform aims to enhance investor decision-making by requiring certain disclosures, thus addressing the lack of adequate pre-listing information. Designed to streamline fundraising and improve transparency, the initiative might provide a controlled alternative to the unregulated grey market, enabling investors to trade shares in the days between IPO allotment and listing.

Meta releases two Llama 4 AI models

The Verge

The Verge · 3m ago

Meta releases two Llama 4 AI models

Meta has unveiled its Llama 4 AI models, comprising Llama 4 Scout and Llama 4 Maverick, claiming superior performance over counterparts from OpenAI and Google across numerous benchmarks. Llama 4 Scout is noted for its efficiency, operating within a single Nvidia H100 GPU. Meanwhile, Llama 4 Behemoth, currently in training, boasts advanced parameters expected to outperform competitors. Meta's "mixture of experts" architecture optimizes resource use, though licensing restrictions challenge its open-source label.

SEBI plans tighter rules for listing of small businesses

VCCircle

VCCircle · 1y ago

SEBI plans tighter rules for listing of small businesses

India's securities regulator, the Securities and Exchange Board of India (SEBI), plans to tighten rules for the listing of small and medium enterprises (SMEs) on public exchanges. The proposed changes include raising the minimum size of public offers to INR 300 million-500 million ($3.59 million-$5.99 million) and introducing more disclosure requirements. The move comes after complaints of misuse of the separate listing platform for SMEs, as some companies allegedly used funds for purposes other than specified and manipulated financial statements. The new rules are expected to be issued later this year after consultations with stakeholders.

Vodafone Idea board to consider ₹20,000 cr fundraise in 6 April meet

Livemint

Livemint · 1y ago

Vodafone Idea board to consider ₹20,000 cr fundraise in 6 April meet

The board of directors of Vodafone Idea is set to consider issuing equity or convertible securities worth up to ₹2,075 crore on a preferential basis to one or more promoter group entities. This move comes after the shareholders approved a proposal to raise ₹20,000 crore through issuing securities. The telecom company plans to complete the equity fundraising by the end of June, which will be followed by raising debt, aiming for a total funding target of up to ₹45,000 crore. This fundraising is crucial for Vodafone Idea to commence 5G services.

Ahead of IPOs, new-age firms look to fill leadership roles in critical areas

Economic Times

Economic Times · 7m ago

Ahead of IPOs, new-age firms look to fill leadership roles in critical areas

New-age companies gearing up for IPOs are hiring seasoned professionals in leadership roles to navigate public listing complexities. Firms like Captain Fresh, Lenskart, and Flipkart are boosting finance, legal, and compliance teams, offering lucrative packages with stock options. CFOs are highly sought after, especially by startups re-pivoting IPO plans from the US to India. Roles like chief AI officer are becoming crucial. The aim is to strengthen governance, enhance transparency, and uphold investor confidence.

India's IPO fundraising set for landmark year 2024: report

Economic Times

Economic Times · 8m ago

India's IPO fundraising set for landmark year 2024: report

Fundraising through IPOs in India is expected to have a successful year in 2024, driven by economic growth, favorable market conditions, and regulatory improvements. As of December 3, 298 companies have gone public, raising a combined amount of Rs 1.4 trillion rupees. This marks a 22% increase in IPO count compared to 2023, with fundraising volumes jumping by 140%. The NSE and BSE stock exchanges have seen significant gains, supported by India's strong economic prospects. Additionally, 85 companies are currently in the listing process, with 40 already approved for IPOs.

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