Turkey Said to Weigh IPO Slowdown After Mixed Demand for Deals
The Capital Markets Board is looking into requests from some IPO applicants to delay granting final approvals for their offerings, said the person, who asked not to be identified because the matter is private. The companies want the regulator to assess market sentiment before consenting to a next batch of deals, the person said.
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Yahoo
8 minutes ago
- Yahoo
President Trump wants to take Fannie Mae and Freddie Mac public. The plan has some problems.
On Wall Street and in Washington, D.C., confusion reigns over how the Trump administration will pull off a potential public offering for mortgage giants Fannie Mae and Freddie Mac later this year. The Trump administration has floated the idea of selling down the government stakes in the two giants, a move that would amount to the largest IPO in history under current values being weighed. The precise mechanics of such a deal have yet to be clarified. Shop Top Mortgage Rates Your Path to Homeownership Personalized rates in minutes A quicker path to financial freedom Plans being discussed within the administration, first reported by the Wall Street Journal, could involve a 5% to 15% sale of Fannie and Freddie shares at a combined $500 billion valuation or higher. But to attract investors, analysts and housing experts see some problems that need to be solved along the way. In the meantime, President Trump is still weighing all of his options. That means plans could change. He has met in recent weeks with CEOs for some of the biggest Wall Street banks, including JPMorgan Chase's Jamie Dimon, Bank of America's Brian Moynihan, and Citigroup's Jane Fraser, to discuss the mortgage giants. Last weekend, he added more fuel to the IPO idea, sharing a doctored image of himself ringing the bell at the New York Stock Exchange on Truth Social. Behind Trump in the image is a banner for neither Fannie or Freddie, but instead a single entity called the "Great American Mortgage Corporation," listed with the stock ticker MAGA. So far, the government's plan for kicking off a public offering for the mortgage giants has left analysts and housing experts alike a bit baffled. Some are questioning whether such a sizable and complex stock offering could get done before the end of 2025. 'To hit this timeline, the Trump administration is going to have to move very quickly through some very weedy and substantive policy discussions,' said Jeb Mason, a former Bush White House and Treasury official. Fannie Mae and Freddie Mac, also known as the Federal National Mortgage Association (FNMA) and Federal Home Loan Corporation (FMCC), play essential roles in the US housing market by purchasing mortgages and then packaging and selling them as bonds to investors. Both fell under government conservatorship during the 2008 financial crisis, when mortgage defaults soared. Untangling the two firms from the government's control has been a long and hotly debated matter. Some prominent Wall Street investors, including billionaire Bill Ackman and John Paulson, placed their bets years ago by purchasing common and preferred stock in Fannie and Freddie, expecting the conservatorship for the two companies would eventually end. The first Trump administration aimed to do it, even hiring Morgan Stanley and JPMorgan Chase for advice. Ultimately, it could not get the job done. Such policy discussions revolve around weighing the potential benefits of reducing the federal government's role in the giants against the risks of disrupting the housing market. 'It's also possible that they are going to try to have some sort of market offering without answering all the key questions,' Mason added. For potential IPO investors, the most crucial questions are whether the mortgage giants can promise some degree of shareholder rights along with a relatively stable level of profit. The administration has at least two essential problems in front of it to fulfill those assurances, according to KBW analyst Bose George. In exchange for bailing out the mortgage giants more than a decade ago, the Treasury Department holds a substantial stake in Fannie and Freddie senior preferred shares, currently valued at over $340 billion. The conventional thinking is that the federal agency must either dissolve or convert its shares to common stock, with both options presenting potential lawsuits from taxpayers or existing shareholders. "It could be a very messy start for an IPO, especially with this idea that there could be huge amounts of litigation," said George. The other problem is that the mortgage giants face a $181 billion gap in the amount of loss-absorbing capital they are required to set aside in the event of a downturn. Meeting that minimum requirement would not only take the better part of a decade, it would also drastically drag down each of the giants' return on equity so much that "no one will buy the stock,' said George. But perhaps the biggest problem is if the Trump administration caters too much to investors. There's also 'all kinds of risk to the housing system and homeownership generally, if you wind up with an administration that is too hell-bent on making Fannie and Freddie too appealing to investors,' said Jim Parrott, a former Obama administration housing adviser. The Trump administration has also, so far, avoided laying out how it plans to ensure the mass perception that the government will backstop these firms in a crisis. This guarantee allows Fannie and Freddie to buy mortgages, package them as bonds, and sell them to investors at a lower credit rating. It remains hotly debated whether the administration will need to take further steps to ensure this guarantee does not weaken. If there is any degree of change of status between Fannie, Freddie, and the government where certain issues aren't addressed, "many Americans could unwittingly face higher mortgage rates," PIMCO's head of public policy Libby Cantrill said in a note to clients this week. Christopher Whalen, chairman of Whalen Global Advisors, an advisory firm focusing on mortgage finance and banking, said, "There is a vast communications task that has to occur to the housing complex, the realtors, the home builders, the lenders, the banks, everybody.' David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance. Click here for in-depth analysis of the latest stock market news and events moving stock prices
Entrepreneur
9 minutes ago
- Entrepreneur
Astrotalk Appoints Deepak Khetan as CFO Amid Expansion Drive
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Astrotalk, a leading astrology platform, has announced the appointment of Deepak Khetan as its first Chief Financial Officer (CFO). The move comes as the company prepares for an Initial Public Offering (IPO) expected within the next two years. Khetan brings an extensive background in finance and leadership to the newly created role. A Chartered Accountant who secured the prestigious All India Rank 1, he has previously held senior positions at GLS Group India, GlobalBees, YES Bank, ICICI Bank, Edelweiss Financial Services Limited, and Gulf Islamic Investment. His career highlights reflect a blend of financial discipline and strategic foresight, qualities Astrotalk hopes to leverage as it enters a new phase of expansion. "As we are scaling and launching in new geographies, our finances have also started becoming more complex. We wanted a strong leader with good pedigree and experience who could handle our finances with airtight compliance," said Puneet Gupta, Founder and CEO of Astrotalk. "While the IPO is a major milestone, it is only one chapter in our story. Deepak's guidance will help us chart the right course, not just to a successful public listing but to a future where our growth remains steady and strong. With him leading our finances, we are confident and ready for whatever comes next." While his designation is CFO, Khetan's responsibilities will extend beyond traditional finance. He will oversee financial planning, compliance, risk management, and investor relations while also playing a role in broader business decisions. In the immediate term, his focus will be on designing a robust financial structure to steer Astrotalk through the IPO journey. Over the longer horizon, he is expected to guide investments, international expansion, and sustainable growth strategies. "I am excited to join Astrotalk at such an important time," said Khetan. "Preparing for an IPO is like preparing for a marathon, it requires precision, strategy, and the right team. I look forward to building the financial discipline and systems that will support the company's ambitions for years to come." Astrotalk was founded in 2017 by Puneet Gupta and Anmol Jain. The platform serves over 70 million customers with more than 20,000 astrologers and records 700,000 daily active users. With an annualised revenue run rate of about USD 192 million, the company aims to generate 40 percent of its revenue from international markets in the coming years.
Yahoo
44 minutes ago
- Yahoo
Down 35% After 2 Weeks, Is Figma a Good Stock to Buy on the Dip?
Key Points Figma stock soared above its initial public offering price but quickly lost more than a third of its value. Total revenue at Figma soared by 48% in 2024, but a deceleration seems inevitable. A sky-high valuation means new Figma shareholders could suffer heavy losses if the upcoming revenue growth deceleration isn't a gentle one. 10 stocks we like better than Figma › Shares of Figma (NYSE: FIG) recorded gains for one day following the user interface design specialist's initial public offering (IPO) on July 31. Sadly, the good times didn't last very long. From the closing bell on Aug. 1 through Aug. 15, the newly minted stock fell by 34.9%. Figma shares are way down from their previous peak, but it would be dead wrong to suggest the IPO wasn't a success. The stock finished Aug. 15 above $79 per share, which was 141% more than the initial offering price of $33 per share. As is usually the case when a popular stock falls dramatically, investors want to know whether it could be a smart buy on the dip. Let's weigh reasons to buy the stock now against some of the challenges that lie ahead to find out. Reasons to buy Figma Stock now Whether you engage with Netflix, Uber, or Duolingo, the user interface you interact with was made by Figma. Many design companies that already spend heavily for access to Adobe's Creative Cloud ignore a competing application, Adobe XD, and end up paying for Figma too. In fact, 95% of Fortune 500 companies use Figma's software to design and maintain their user interfaces. Effective interface design isn't limited to developers willing to pay for a full subscription to specialized software. The process pulls in writers, researchers, marketers, and other collaborators. With Figma, nondevelopment collaborators can access projects for one-seventh the price developers with enterprise subscriptions pay. Figma's in the right place at the right time. Companies across industries are investing heavily in their digital transformations, and the trend is helping Figma grow by leaps and bounds. In 2024, revenue grew 48% to $749 million. Sales growth decelerated slightly in the first quarter of 2025, but this business is still expanding at a rapid pace. Figma reported first-quarter sales that rose 46% year over year to $228.2 million. At the end of March, Figma had zero debt and a big $1.5 billion cash cushion on its balance sheet. The asset-light software business could become a cash-generating machine for investors. In the first quarter, the company reported free cash flow that equaled 41.4% of total revenue during the period. Reasons to remain cautious Figma's stock is down from its peak, but it's still trading at a sky-high valuation. Revenue is expanding rapidly, but so is its employee roster. The company reported a $732 million net loss last year. In the first quarter of 2025, Figma's bottom line entered positive territory. That said, net income worked out to just $0.04 per share. The stock's closing price on Aug. 15 was 496 times annualized first-quarter earnings. It isn't impossible for a software business to grow into such a steep valuation, but it doesn't happen often. Investors considering this stock now should understand that it could fall much further if it reports another growth deceleration in any of its next several quarterly reports. Unfortunately, Figma expects its revenue growth rate to decline in the future as its business matures. Figma hasn't set a date yet for reporting results from the second quarter that ended on June 30. If you're considering this stock, it's probably best to wait until after we see at least one or two more quarterly reports so we can gauge just how rapidly growth will decelerate. Do the experts think Figma is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Figma make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,070% vs. just 184% for the S&P — that is beating the market by 885.55%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,155!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,106,071!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Cory Renauer has positions in Duolingo. The Motley Fool has positions in and recommends Adobe, Netflix, and Uber Technologies. The Motley Fool recommends Duolingo. The Motley Fool has a disclosure policy. Down 35% After 2 Weeks, Is Figma a Good Stock to Buy on the Dip? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
