shares
German sandal maker Birkenstock has announced that 14 million of its ordinary shares are to be sold in a secondary offering by an entity affiliated with its largest backer. In the offer, set to close on 28 June this year, shares will be sold at $54 (€50) a piece - Birkenstock confirmed on Wednesday. L Catterton, a US private equity firm supported by French billionaire Bernard Arnault and luxury goods giant LVMH, is seeking to reduce its stake in Birkenstock. Its ownership will fall from 81.1% to 73.2%. Hopes for a strong demandThe sale is expected to raise $756 million (€707 million), although...
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Revolut is aiming for a valuation of $40 billion (€37 billion) as it prepares to sell existing shares, the Financial Times reported on Thursday evening. In a deal organised with investment bank Morgan Stanley, the fintech firm seeks to offload $500 million (€468 million) worth of stock, including assets owned by employees. The valuation would exceed the $33 billion (€31 million) mark Revolut secured during a funding round in 2021. This would put it on par with Lloyds Banking Group, and ahead of UK lender NatWest and France's Société Générale. A number of European fintech firms, including Swedi...
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British microcomputer maker Raspberry Pi launched its initial public offering (IPO) today on the London Stock Exchange (LSE) after pricing its shares at 280p. For now, only conditional trading is allowed, which means that only some select investors will be able to trade the company’s shares, with the majority of retail investors having to wait until Friday 14 June, when trading opens for everyone. Following the IPO however, Raspberry Pi’s shares soared as high as 392p, with the company revealing that it was hoping for a valuation of about £541.6 million (€642.48 million). The Cambridge based g...
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UK retail investors are increasingly looking at trading in companies listing on US stock markets because of the fall in appeal of the London stock market over the past 10 years, the CMC Markets' report into retail trading trends has said. In recent times, the London Stock Exchange (LSE) seems to have been having difficulty persuading firms to launch their initial public offerings (IPOs) on the exchange. In 2023, the LSE saw only 24 IPOs, the lowest amount since 1995. Not only that, but fast-growing companies in the UK are also being forced to be ever more dependent on foreign investors. EU Ele...
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The AI powerhouse Nvidia saw its shares surge by 5.2% on Wednesday, raising its market capitalisation to $3.02 trillion (€2.9 trillion). This impressive growth has allowed Nvidia to surpass Apple and become the world's second-largest company, behind Microsoft, which holds a market capitalisation of $3.15 trillion. This milestone moment occurred one day before Nvidia’s 10-for-1 share split, which may have acted as a catalyst for the surge as investors sought to capitalise on the opportunity. Things you need to know about Nvidia's 10-for-1 stock splitInvestors who own Nvidia's stock at the end o...
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The Venice-based brand, owned by British private equity group Permira, plans to raise €100 million by floating at least 25% of the company. An unspecified amount of existing shares will also be sold. The offering could value Golden Goose at €3 billion, including debt, and many are hoping that the move will breathe new life into Europe's recovering IPO market. In recent years, market instability has halted a number of listings, with firms spooked by inflation, pandemic-era lockdowns, and geopolitical tensions. "For the second year in a row, the European IPO market remained quiet with IPO procee...
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For the second day in a row, the shares of US video game retailer GameStop Corp and movie theatre chain AMC Entertainment Holdings Inc have seen their prices soaring by more than 70% - and the reason is a single social media post. This is what market experts call a "meme rally", involving retail market traders flocking into "meme stocks", buying up the shares of companies with cult-like social media followers. They hit the 'buy' button based on sympathy or trends on social media, rather than profit, income or any other indicator of how the investment is about to perform. Following a relatively...
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Shares in Bayer AG took a fall in early trade after the after the pharmaceutical company reported shrinking sales and earnings from the first three months of 2024, although the latter came in above expectations. Shares later recovered. Quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), before special items were down 1.3% to €4.4 billion. Analysts estimated €4.15 billion. Group sales dropped to €13.7 billion, a 0.6 % drop on a currency and portfolio adjusted basis compared with the previous year. Bayer's report blamed a negative currency effect for €525 million o...
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The shares of UBS were sent through the roof after the Swiss bank reported that it returned to profitability in the first quarter of 2024, for the first time since it took over its former rival Credit Suisse in June 2023. The share price of the Zurich-based lender was up by 9.8% after midday, as investors were showered with good news: the profit beat expectations, the lender reported $1.75 billion (€1.63 billion) net income for the first three months, after two consecutive quarterly losses amid cost-cutting measures. The bank said it had earnings of 52 cents per share. Total group revenues rea...
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The London Stock Exchange (LSE) is facing another blow with gambling giant Flutter Entertainment's shareholders voting for the company to set up its primary listing in New York, rather than London. Flutter Entertainment is the parent company for several well-known betting and gaming companies such as Sportsbet, Tombola, Betfair, Paddy Power, Junglee Games, Sisal, PokerStars, FanDuel and more. The company previously had its primary listing on the LSE, with only an additional listing on the New York Stock Exchange, where it started trading on 29 January. CEO Peter Jackson said then: "With our NY...
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