Investors have been trying to assess whether inflation-fighting central banks could push the world economy into recession as they raise interest rates. US Federal Reserve chief Jerome Powell said the central bank’s focus on curbing inflation was “unconditional” and the labor market was unsustainably strong, comments that stoked fears of more rate hikes. US West Texas Intermediate (WTI) crude futures were down $2.48, or 2.3%, at $103.71. NEW YORK: Oil prices fell by more than $2 a barrel on Thursday in volatile trading as investors weighed the risk that rising US interest rates could trigger a recession and cut demand for fuel.īrent crude futures fell $2.26 cents, or 2 percent, to $109.48 by 1:04 p.m. The IPO market closely reflects investors’ appetite for risk and they tend to become more reluctant to commit large chunks of cash to a single company if the broader economic environment is showing signs of strain.Ģ021 was “an extraordinary year for equity formation globally - dare I say one that is unlikely to be repeated any time soon,” said James Fleming, global co-head of equity capital markets at Citigroup Inc. 12.įollowing a bumper first half of listings in 2021, deal cancelations and postponements began to be seen toward year-end, with France’s Icade Sante and Switzerland’s Chronext pulling deals in October. Global stock markets have had a bumpy start to the year, with the EuroStoxx 600 technology index down 6 percent since the company announced its intention to float on Jan. The company said in a statement it had made the decision to cancel the listing “despite substantial investor interest.” It will continue “pursuing our strategy and continuing our growth trajectory,” Chief Executive Gordon Willoughby added. 28 floatation on Amsterdam’s Euronext that would have valued the company at between 629 million and 716 million euros ($714 million-813 million). to Hong Kong.The company that owns the WeTransfer file service is canceling its initial public offering, Europe’s first prominent tech offering of the year, it said on Thursday, citing volatile market conditions. among other investors, said it was relocating its IPO from the U.S. Last week, Tuhu, a Chinese online car services platform, backed by Goldman Sachs Group Inc. Learn more: Digital Payments Startup Pine Labs Files for $500M IPO at Valuation as High as $7B Read more: Mattress Firm Group Begins IPO ProcessĪlso on Monday, d igital payments startup Pine Labs filed confidentially with the SEC for an IPO to raise $500 million at an estimated valuation between $5.5 billion to $7 billion. 10), Mattress Firm Group filed an IPO with the Securities and Exchange Commission (SEC). Less than two weeks into the new year, PYMNTS has reported on multiple IPOs. “Our differentiated and proven ‘freemium’ business model, combining subscriptions and premium advertising, has underpinned our consistent track record of strong, profitable growth,” CEO Gordon Willoughby said in a statement. Proceeds will be used for staffing, marketing and possible acquisitions, the company said. The company told Reuters that WeTransfer has 87 million monthly users and expects to have had sales of more than 100 million euros ($114 million) in 2021. While a date has not yet been set for the IPO, WeRock said its offer would include a primary and secondary offering of shares. In what would be Europe’s first sizable initial public offering (IPO) of the new year, the Amsterdam-based firm, a division of WeRock NV, is seeking to raise 160 million euros ($182.7 million) in the offering.Įxisting investors Highland Europe Technology and HPE Institutional Fund II will sell their shares, according to a statement. WeTransfer, the Netherlands file-sharing platform, is expected to go public on Euronext, Amsterdam’s stock exchange.
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