Initially, Renault CEO Luca de Meo revealed that the company was seeking a valuation ranging between €8 billion and €10 billion for the EV business, known as Ampere, stopping short of Renault’s €10.1 billion valuation. De Meo insisted that improved cash flow in the EV unit has reduced the need for a share sale.

Still, de Meo did admit that falling EV demand had a role in his company’s decision. “Is the context influencing the decision? It’s one of the elements,” De Meo told reporters. “Being totally blind and not looking left and right would’ve been not been responsible.”

The post Renault Shares Rise After Scrapping EV IPO appeared first on theprimarymarket.com.

Klaviyo is set to offer 19.2 million shares, priced between $25 and $27 per share, thereby resulting in a potential income of $518.4 million. The company has received backing from e-commerce giant Shopify and affiliates of investment company Summit Partners. Co-founder and Chief Executive Officer Andrew Bialecki holds a 38% stake in the company.

Founded in 2012, Klaviyo stores and analyzes data for e-commerce companies to help them create more personalized emails and marketing messages. The company generated a revenue of $164.6 million for the three months ended June 30.

The post Klaviyo Looks to Hit $6.8 Billion Valuation in IPO appeared first on theprimarymarket.com.

The largest online grocery service in the U.S., Instacart could lead a rebound in U.S. listings after what has been the longest period of stagnation for American IPOs since the financial crisis of 2009. Arm Holdings Ltd, is also expected to play a role in this revival, with the SoftBank Group-owned company expecting to raise $4.87 billion later this week.

Over the first six months of 2023, Instacart saw its revenue surge by 31% to about $1.5 billion, driven by its higher-margin advertising segment. Net income for the first half of the year was $242 million, compared to a loss of $74 million during the same period last year.

The post Instacart Sets $616 Billion Target for IPO appeared first on theprimarymarket.com.

Solomon’s comments come as the investment firm faces a tumultuous financial situation, having reported its weakest quarterly profits in three years. This is the latest hurdle in a two-year slump for Goldman Sachs, which has led to criticism aimed at Solomon and his leadership style. Goldman Sachs’s stocks are down 5.5% this year.

Arm Holdings, the chip designer owned by SoftBank Group, as well as online grocery shopping platform Instacart have been among the best-performing IPOs this year, boosting hopes for further success this year.

The post Goldman Sachs CEO Expects IPOs to Bolster Capital Markets appeared first on theprimarymarket.com.

Owned by SoftBank Group Corp., the computer processor maker is set to offer a total of 95.5 million American depositary shares at its IPO, with prices in the range of $47 to $51 each. This would value the company at around $54.5 billion, Bloomberg News reported.

Previously expecting to raise between $8 billion and $10 billion, Arm lowered its target after SoftBank decided to purchase a 25% stake through its Vision Fund. Following the IPO, SoftBank is still expected to own a 90% stake in the company.

Even at the lower end of its target range, Arm will emerge as the world’s largest IPO this year, surpassing the $4.37 billion raised by Johnson & Johnson consumer health spinoff Kenvue Inc.

The post Arm Looks to Raise $4.87 Billion in IPO appeared first on theprimarymarket.com.

Operating most of its Chinese business through Arm China, this is the SoftBank-owned chipmaker’s single largest customer, accounting for a quarter of sales for the year ended March. Arm’s total revenue declined by 1% last year to $2.68 billion.

Now, the chip designer is lowering its expected valuation from a range of $60 billion to $70 billion to a range of $50 billion to $60 billion. The company expects to raise between $5 billion to $7 billion through its IPO, down from its previous projection of $10 billion.

The post Arm Lowers Expectations For IPO Given Market Conditions appeared first on theprimarymarket.com.

Should these figures be realized, Arm would become the most valuable company to list on the New York Stock Exchange since electric car maker Rivian Automotive in 2021. Still, this is actually a decline from the $64 billion valuation when SoftBank acquired its 25% stake in the company last month.

Major clients that Arm has already signed on as investors in its IPO include Advanced Micro Devices Inc, Alphabet Inc, Apple Inc, Intel Corp, Nvidia Corp, and Samsung Electronics Co Ltd.

The post SoftBank’s Arm Aims For $47 to $51 Per Share in IPO appeared first on theprimarymarket.com.

“We struck this deal in May of 2021,” CFO Kevin Ryan explained, alluding to the long journey that online mortgage lender Better.com took to go public. “It was clearly a much better time in the mortgage market. It was a much better time for SPACs.”

Yelena Dunaevsky, a corporate finance and securities attorney and SPAC insurance adviser, claimed that the Better stock is “a dud”, categorizing it in the group of recent SPAC stocks that have plunged in recent times.

Better.com’s challenges may stem from a poor real estate market for new home purchases. On Thursday, the average 30-year mortgage rate hit a 22-year-high of 7.23%, with the Federal Reserve preparing to sustain interest rate hikes for longer in an effort to beat down inflation further.

The post Better Stock Crashes 90% After IPO appeared first on theprimarymarket.com.

The online grocery delivery platform’s decision to go public comes as it seeks new sources of capital amid a slowdown in the growth of its core business. While grocery orders rose 18% to almost 263 million in 2022, they have remained virtually flat during the first half of 2023, the company revealed in its filing with the US Securities and Exchange Commission.

While order growth has stagnated over the past year, revenue rose by 31% to about $1.5 billion in six months ended June 30. This rise was largely spurred by its advertising segment. Net income from advertising was $242 million for the first six months of 2023, compared to a loss during the same period last year.

The post Instacart Files IPO Plan Amid Slowed Sales Growth appeared first on theprimarymarket.com.

This latest development is a sharp reversal from SoftBank’s previous announcement in May that Arm’s revenue for the year had increased by 5.7% under International Financial Reporting Standards. Arm is expected to release its latest financials next week under U.S. accounting standards.

Arm’s revenue slip comes as the demand outlook for tech products outside the artificial intelligence (AI) industry remains low. PC, smartphone, and data center markets have all shrunk over the course of 2023. This came as consumers reduced their spending amid high inflation, rising interest rates, and a struggling global economy.

The post Arm’s Full-Year Revenue Falls Ahead of IPO appeared first on theprimarymarket.com.

Initially, Renault CEO Luca de Meo revealed that the company was seeking a valuation ranging between €8 billion and €10 billion for the EV business, known as Ampere, stopping short of Renault’s €10.1 billion valuation. De Meo insisted that improved cash flow in the EV unit has reduced the need for a share sale.

Still, de Meo did admit that falling EV demand had a role in his company’s decision. “Is the context influencing the decision? It’s one of the elements,” De Meo told reporters. “Being totally blind and not looking left and right would’ve been not been responsible.”

The post Renault Shares Rise After Scrapping EV IPO appeared first on theprimarymarket.com.

Klaviyo is set to offer 19.2 million shares, priced between $25 and $27 per share, thereby resulting in a potential income of $518.4 million. The company has received backing from e-commerce giant Shopify and affiliates of investment company Summit Partners. Co-founder and Chief Executive Officer Andrew Bialecki holds a 38% stake in the company.

Founded in 2012, Klaviyo stores and analyzes data for e-commerce companies to help them create more personalized emails and marketing messages. The company generated a revenue of $164.6 million for the three months ended June 30.

The post Klaviyo Looks to Hit $6.8 Billion Valuation in IPO appeared first on theprimarymarket.com.

The largest online grocery service in the U.S., Instacart could lead a rebound in U.S. listings after what has been the longest period of stagnation for American IPOs since the financial crisis of 2009. Arm Holdings Ltd, is also expected to play a role in this revival, with the SoftBank Group-owned company expecting to raise $4.87 billion later this week.

Over the first six months of 2023, Instacart saw its revenue surge by 31% to about $1.5 billion, driven by its higher-margin advertising segment. Net income for the first half of the year was $242 million, compared to a loss of $74 million during the same period last year.

The post Instacart Sets $616 Billion Target for IPO appeared first on theprimarymarket.com.

Solomon’s comments come as the investment firm faces a tumultuous financial situation, having reported its weakest quarterly profits in three years. This is the latest hurdle in a two-year slump for Goldman Sachs, which has led to criticism aimed at Solomon and his leadership style. Goldman Sachs’s stocks are down 5.5% this year.

Arm Holdings, the chip designer owned by SoftBank Group, as well as online grocery shopping platform Instacart have been among the best-performing IPOs this year, boosting hopes for further success this year.

The post Goldman Sachs CEO Expects IPOs to Bolster Capital Markets appeared first on theprimarymarket.com.

Owned by SoftBank Group Corp., the computer processor maker is set to offer a total of 95.5 million American depositary shares at its IPO, with prices in the range of $47 to $51 each. This would value the company at around $54.5 billion, Bloomberg News reported.

Previously expecting to raise between $8 billion and $10 billion, Arm lowered its target after SoftBank decided to purchase a 25% stake through its Vision Fund. Following the IPO, SoftBank is still expected to own a 90% stake in the company.

Even at the lower end of its target range, Arm will emerge as the world’s largest IPO this year, surpassing the $4.37 billion raised by Johnson & Johnson consumer health spinoff Kenvue Inc.

The post Arm Looks to Raise $4.87 Billion in IPO appeared first on theprimarymarket.com.

Operating most of its Chinese business through Arm China, this is the SoftBank-owned chipmaker’s single largest customer, accounting for a quarter of sales for the year ended March. Arm’s total revenue declined by 1% last year to $2.68 billion.

Now, the chip designer is lowering its expected valuation from a range of $60 billion to $70 billion to a range of $50 billion to $60 billion. The company expects to raise between $5 billion to $7 billion through its IPO, down from its previous projection of $10 billion.

The post Arm Lowers Expectations For IPO Given Market Conditions appeared first on theprimarymarket.com.

Should these figures be realized, Arm would become the most valuable company to list on the New York Stock Exchange since electric car maker Rivian Automotive in 2021. Still, this is actually a decline from the $64 billion valuation when SoftBank acquired its 25% stake in the company last month.

Major clients that Arm has already signed on as investors in its IPO include Advanced Micro Devices Inc, Alphabet Inc, Apple Inc, Intel Corp, Nvidia Corp, and Samsung Electronics Co Ltd.

The post SoftBank’s Arm Aims For $47 to $51 Per Share in IPO appeared first on theprimarymarket.com.

“We struck this deal in May of 2021,” CFO Kevin Ryan explained, alluding to the long journey that online mortgage lender Better.com took to go public. “It was clearly a much better time in the mortgage market. It was a much better time for SPACs.”

Yelena Dunaevsky, a corporate finance and securities attorney and SPAC insurance adviser, claimed that the Better stock is “a dud”, categorizing it in the group of recent SPAC stocks that have plunged in recent times.

Better.com’s challenges may stem from a poor real estate market for new home purchases. On Thursday, the average 30-year mortgage rate hit a 22-year-high of 7.23%, with the Federal Reserve preparing to sustain interest rate hikes for longer in an effort to beat down inflation further.

The post Better Stock Crashes 90% After IPO appeared first on theprimarymarket.com.

The online grocery delivery platform’s decision to go public comes as it seeks new sources of capital amid a slowdown in the growth of its core business. While grocery orders rose 18% to almost 263 million in 2022, they have remained virtually flat during the first half of 2023, the company revealed in its filing with the US Securities and Exchange Commission.

While order growth has stagnated over the past year, revenue rose by 31% to about $1.5 billion in six months ended June 30. This rise was largely spurred by its advertising segment. Net income from advertising was $242 million for the first six months of 2023, compared to a loss during the same period last year.

The post Instacart Files IPO Plan Amid Slowed Sales Growth appeared first on theprimarymarket.com.

This latest development is a sharp reversal from SoftBank’s previous announcement in May that Arm’s revenue for the year had increased by 5.7% under International Financial Reporting Standards. Arm is expected to release its latest financials next week under U.S. accounting standards.

Arm’s revenue slip comes as the demand outlook for tech products outside the artificial intelligence (AI) industry remains low. PC, smartphone, and data center markets have all shrunk over the course of 2023. This came as consumers reduced their spending amid high inflation, rising interest rates, and a struggling global economy.

The post Arm’s Full-Year Revenue Falls Ahead of IPO appeared first on theprimarymarket.com.