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Boot brand Dr. Martens is considering a London IPO
Iconic footwear brand Dr. Martens is considering a listing on the London Stock Exchange amid a bullish outlook for the UK IPO market in 2021.
The company, which sells 11 million pairs of shoes a year in more than 60 countries, said in a filing on Monday that an IPO would entail the sale of at least 25% of its shares by existing owners, including private equity firm Permira. No new shares would be issued.
Dr. Martens joins a growing list of companies that could IPO in London this year. While none have confirmed listings, food delivery company Deliveroo, McLaren Group, Jaguar Land Rover and craft brewer BrewDog could be looking at IPOs, according to stockbroker IG.
Order Reprints Illustration by Elias Stein
Give RingCentral credit: It has guts. The company, a provider of cloud-based communications services, is launching RingCentral Glip, a video and chat app that competes not only with Zoom Video Communications, but also Cisco Webex (which recently announced its own upgrades), Microsoft Teams, and Google Hangouts, plus collaborative software provider Slack Technologies.
RingCentral bought Glip in 2015, when it was primarily a collaborative communications tool like Slack, which is being taken over by Salesforce.com. The new version.
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Give RingCentral credit: It has guts.
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Airbnb and DoorDash last week used a relatively new process for going public that borrowed elements from a traditional IPO and an auction. The process was pioneered by Unity Software in September.
Despite their use of the so-called hybrid auction process, both companies saw their stocks surge in the first day of trading. Since then, Airbnb has risen 1.6% while DoorDash has slumped 19%.
Business Insider talked to nearly a dozen people involved in one or more of the three IPOs, and found that Airbnb and DoorDash set initial ranges too low, showed an unwillingness to push prices higher, and faced strong retail buying interest.
Markets are going higher because of liquidity. Historically foreign investors have not bought into PSUs and yet PSU stocks are going higher. What is going on?
There is a lot of interest from domestics also. Non institutional domestic money is going into PSUs as special situations and that is probably the big cause. PSUs have not done well for over 10 years and there is hope that there will be special situation cases of PSUs whether through disinvestment like in BPCL or other actions.
Second, there has been a rerating in certain segments like banking. Largely, the provisions have got done and so the clean up over the last five, six years is now finally bearing fruit. There have been mergers and a lot of action has been taken on the banking side and we are seeing small rerating starting of the PSU banks. They still control the large market share in banking in terms of both lending and on the deposit side. As the economy recovers, the banks are the first way to play that and we are s