Shares of Hollywood star Jessica Alba's Honest Co (HNST.O) traded sharply higher on their Nasdaq debut on Wednesday, valuing the consumer goods company at around $2 billion.
Retail & ConsumerJessica Alba-backed Honest Company IPO raises $412.8 mln
Echo Wang
2 minute read
Actress and founder of the Honest Company Jessica Alba poses as she arrives for the 20th Annual Webby Awards in Manhattan, New York, U.S., May 16, 2016. REUTERS/Mike Segar
Honest Company Inc (HNST.O), the consumer goods company founded by actress Jessica Alba, said it priced its initial public offering (IPO) on Tuesday slightly above the midpoint of its indicated range, raising $412.8 million.
The company said late Tuesday that it sold 25.8 million shares at $16 each. Honest had previously indicated shares could be sold in the IPO at $14-$17 apiece.
Middle EastIsrael s Delek Drilling aims for London listing of restructured company
Steven Scheer
3 minute read
Israel s Delek Drilling (DEDRp.TA) said on Tuesday it was forming a new company listed in London to manage all of its gas and oil assets and increase its access to foreign investors.
Delek Drilling, controlled by conglomerate Delek Group (DLEKG.TA), will transfer its ownership to newly formed British firm NewMed Energy and cease its status as a limited partnership.
NewMed will hold and manage 100% of the assets of Delek Drilling, including a 45.34% interest in the Leviathan natural gas reservoir off Israel s Mediterranean coast, where it partners with Chevron (CVX.N), a 22% stake in the nearby Tamar gas field, its rights in two other Israeli gas sites and a 30% holding in the Aphrodite site in Cyprus.
ChinaBeijing-based ByteDance says it has no immediate listing plans
ReutersYingzhi YangTony Munroe
1 minute read
A man walks by a logo of Bytedance, the China-based company which owns the short video app TikTok, or Douyin, at its office in Beijing, China July 7, 2020. REUTERS/Thomas Suen
Beijing-based ByteDance said on Friday it had no imminent plans for an initial public offering (IPO).
ByteDance last month hired former Xiaomi (1810.HK) executive Shou Zi Chew for a newly-created role as chief finance officer, suggesting the tech company was moving a step closer to a much-anticipated IPO. There has been recent media speculation about our IPO plans. We would like to clarify that we re not ready at this stage and do not have IPO plans yet, TikTok owner ByteDance said in a statement to Reuters.
TechnologySteeped in spycraft, cybersecurity firm Darktrace rockets on London debut
ReutersPaul Sandle
5 minute read
Darktrace (DARK.L), a cybersecurity company advised by former MI5 and CIA spymasters, leapt more than 40% on its market debut on Friday, delivering a boost to the London market after the spectacular flop of Deliveroo last month.
The company was priced at 250 pence in the initial public offering, giving it a valuation of just over half the original aim of $4 billion. But it rocketed to 352 pence when trading started, well above the 220-280 pence range set by its bankers when its roadshow began on Monday.
Darktrace uses AI to understand IT networks and then detect attacks by identifying unusual behaviour from within. Its advisory board includes a former director general of the British security service, Jonathan Evans, an ex-CIA chief information officer, Alan Wade, and former UK interior minister Amber Rudd.