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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The co-working giant’s initial public offering is a missed opportunity that prioritizes promoter interests at the expense of incoming shareholders. Given this, the tepid investor interest is no surprise.
WeWork India Management Ltd’s initial public offering closed yesterday with a less-than-lukewarm response from investors. Retail investors were wary, with a 0.62x subscription, while high-net-worth individuals shied away (0.23x subscription). Even institutions, normally the white knights for struggling offerings, subscribed a modest 1.79x their allocation.
None of it should be a surprise, least of all to the promoters, who seem to have prepared well for this eventuality. The outsized anchor investor portion was perhaps an early indication of where this offering was headed. WeWork India had reserved 45% of the offer for anchor investors, whereas most recent large IPOs had …
Parent AceVector is headed for a public market debut next week. As much as 97% of its revenue comes from two businesses. One is already a listed entity, the other a missed opportunity.
The kingdom is moving to tighten the rules around public listings, algorithmic trading, trading in foreign securities and company disclosures—all in an effort to chase transparency.
Former WeWork chief is betting on the Mideast markets, fresh attacks have the Gulf on edge again, and other updates from this week.
