Latest news with #Aegis
Yahoo
3 days ago
- Business
- Yahoo
India's Schloss, Aegis Vopak IPOs fully sold on final day, retail demand subdued
By Hritam Mukherjee (Reuters) -Indian initial public offerings of Leela hotels-owner Schloss Bangalore [ and Aegis Vopak Terminals [ were oversubscribed on Wednesday, hauled across the line by institutional buyers as retail demand floundered. India's IPO market is still finding its legs after a slow start to the year, following blockbuster listings from companies such as Swiggy and NTPC Green in 2024. India's blue-chip Nifty 50 index is up nearly 5% this year but is still more than 5% below record-high levels logged in September 2024, amid uncertainties around global tariffs and worries about their impact to trade. Proceeds from IPOs are down 29% on-year so far this year, while number of issues have dropped 38%, data from LSEG showed. IPO hopefuls, such as LG Electronics India, have either delayed plans or downsized their issue sizes. Schloss issued fresh shares and existing investor Brookfield sold some of its stake in the $409 million IPO. Aegis, a JV of Dutch tank storage group Vopak, only issued new shares in its $328 million offering. Retail investors, who typically look to pocket listing gains, bid for just 83% of their reserved portion in Schloss' books, while Aegis drew just 77%. Institutional buyers, including foreign investors and banks, bid for over seven times the shares allotted for them in Schloss, and over three times their portion in Aegis. "Retail investors and high-net worth individuals recorded lacklustre enthusiasm as they found valuations to be too demanding, especially when markets have still not completely settled and global uncertainty fears loom," said Astha Jain, a research analyst with Hem Securities. Schloss is targeting a valuation of about $1.7 billion, while Aegis Vopak is aiming one at $3.05 billion. Both the firms are slated to start trading on Indian stock exchanges on June 2.
Forbes
4 days ago
- Business
- Forbes
Making Our Navy Supreme Again
Hyundai Heavy Industries Co., one of the world's largest shipbuilders, is leading the global shipbuilding industry. (Photo by Chung Sung-Jun/Getty Images) It's a true emergency: Our Navy is falling dangerously behind China's. Beijing has been relentlessly building up its naval power. Its purpose is simple: to make global commerce dependent on its goodwill. Freedom of navigation for international seaways has been a U.S. policy fixture for more than two centuries. China firmly intends to end freedom of the seas. It has built numerous islands in and near the South China Sea which are ocean-based military bases. The U.S. just stood by and let this happen. China has been bullying Filipino fishing vessels in international waters that China claims as its own. The message to Indo-Pacific nations: Kowtow to us politically, or your economic well-being will be in serious jeopardy. China now has more naval vessels than the U.S. does. Sure, we have qualitative advantages, but these will be transitory if we don't act quickly—and creatively. Our military shipbuilding is a shadow of what it should be, and our commercial shipbuilding is a farce. China has 700 oceangoing vessels, the U.S. fewer than 300. Chinese shipyards are the largest in the world. In 2023 they had 1,700 ships on order. U.S. shipyards had all of five. The cost of building a commercial vessel in the U.S. is almost five times what it costs in South Korea and Japan. More ominously, American technology lags theirs, and we lack the necessary skilled workforce. South Korea's largest shipbuilder is Hyundai Heavy Industries (HHI). The company is presently constructing a destroyer for Korea's navy that is much like our Aegis destroyers. However, HHI is doing so at less than half the cost and in far less time than the U.S. does. This destroyer is loaded with American parts and technology. As an HHI executive told the Wall Street Journal, 'This is basically a U.S. warship.' Hyundai shipyards are also building naval vessels for New Zealand, the Philippines and Peru. Clearly, the gap between the U.S. and China is too big to close. But there's a solution staring us in the face: Contract with the advanced shipyards in South Korea and Japan to build naval vessels. Of course, we must simultaneously move ahead to vastly improve U.S. shipbuilding. Recently, Huntington Ingalls Industries, America's largest military shipbuilder, and HHI signed a memorandum of understanding to examine opportunities for collaboration on accelerating ship production for defense and commercial projects. HHI and another major South Korean shipyard have received approval for repair and maintenance work on certain U.S. naval vessels. That's all well and good, but given the nature of our naval emergency, we must also start constructing vessels in South Korea and Japan. Under current law, foreign companies are banned from building U.S. naval and commercial ships. But President Trump could issue an exemption on national security grounds. To do its part, Congress should cement that ex- emption into law and should also repeal the Jones Act, a law that in the name of protecting American ship-building has ended up wrecking it.
Miami Herald
23-05-2025
- Politics
- Miami Herald
Videos Show US Destroyers Training To Intercept Ballistic Missiles
The United States demonstrated its naval power as a pair of destroyers intercepted ballistic missiles during live-fire drills in Europe, showcasing its combat credibility to potential adversaries. "The two destroyers' successful missile intercepts demonstrated the lethality of U.S. Navy systems and the ability to operate seamlessly with Allied nations to maintain a stable security environment," the Europe-headquartered U.S. Sixth Fleet announced on Thursday. U.S. Navy cruisers and destroyers equipped with Aegis weapons systems to provide "integrated air and missile defense," regularly conduct missile tests. As of December 2023, a total of 49 Aegis-equipped ships capable of ballistic missile defense were in service. The missile intercept drills come as President Donald Trump revealed details of the $175 billion Golden Dome initiative, which aims at "forever ending the missile threat to the [U.S.] homeland" by building a multi-layered defense grid that includes space-based interceptors. The drills were part of Exercise At Sea Demonstration/Formidable Shield 25 (ASD/FS 25), which has been taking place in the North Sea, Norwegian Sea, and North Atlantic Ocean since May 3. It features air and missile defense drills against a range of threats. The three-week exercise aims to strengthen NATO interoperability in "a joint, live-fire, Integrated Air and Missile Defense (IAMD) environment," using the alliance's command and control reporting structures, according to Naval Striking and Support Forces NATO. Destroyer USS Thomas Hudner launched a Standard Missile-6 (SM-6) at a short-range ballistic missile target on May 15. Five days later, it and its sister ship, USS Bulkeley, intercepted a medium-range ballistic missile target and a simulated target using a Standard Missile-3 (SM-3) interceptor. Targets in both drills were "successfully engaged." According to U.S. major defense contractor Raytheon, the SM-3 is designed to destroy short- to intermediate-range ballistic missiles, while the SM-6 is described as "three missiles in one," capable of conducting anti-air, anti-surface, and ballistic missile defense missions. Depending on its variant, the SM-3 has an estimated range of 434 to 1,550 miles, while the multifunctional SM-6 has a reported range of up to 290 miles, according to specialist outlets Naval News and Breaking Defense. The actual ranges of these missiles remain classified. As of last October, five U.S. Navy anti-ballistic missile destroyers were homeported in Spain, providing "full coverage and protection" for NATO European countries against the threat posed by the proliferation of ballistic missiles. The U.S. Sixth Fleet said: "ASD/FS 25 includes a series of live-fire events against unmanned air and surface systems, subsonic, supersonic, and ballistic targets, incorporating multiple Allied ships, multi-nation/multi-service ground-based air defenses, and aviation forces working across battlespaces to deliver lethal effects, accomplish exercise objectives, and hone warfighting skills." Captain Michael Dwan, commander of the Task Group 154.64 and Naval Striking and Support Forces NATO (STRIKFORNATO)'s U.S. Maritime Ballistic Missile Defense Assets Adviser, said: "Exercises like ASD/FS are critical for refining our collective integrated air and missile defense capabilities, ensuring we can respond effectively to any threat from any direction and maintain a credible deterrent posture." The U.S. military newspaper Stars and Stripes reported that a sixth destroyer based in Spain is scheduled to arrive at its new home port next year. These forward-deployed warships are intended to defend Europe against ballistic missile attacks from countries such as Iran. Related Articles India Ready to Raise US Oil Imports in Boost for TrumpMinuteman III vs Yars: US ICBM Passes Test Days After Russian Launch FlopsChinese Satellites Capture US Bombers and Jets at Island Air BaseNew US-Iran Nuclear Talks as Tensions Rise 2025 NEWSWEEK DIGITAL LLC.
Hans India
15-05-2025
- Politics
- Hans India
South Korean military chief inspects naval readiness, calls for deterrence against North Korea
Seoul: South Korea's top military officer inspected naval units and the submarine command on Thursday, urging firm naval readiness to deter any provocations by North Korea, the Joint Chiefs of Staff (JCS) said. JCS Chairman Adm. Kim Myung-soo made the call as he boarded the ROKS Jeongjo the Great destroyer and visited the submarine force command, the Jinhae Naval Base Command and the naval special warfare flotilla based in Jinhae, some 310 kilometres southeast of Seoul, according to the JCS. Boarding the destroyer, Kim urged troops to familiarise themselves with the warship's combat system and equipment to preemptively deter and respond to the North's nuclear and missile threats. The 8,200-tonne Aegis destroyer, armed with an advanced missile interception platform, was delivered to the Navy in November last year and is expected to be deployed by December. While visiting the submarine force command, Kim instructed the command to maintain a firm readiness posture against the enemy's potential provocations, Yonhap news agency reported. As part of the visit, Kim also conducted a command flight on the P-8A Poseidon maritime surveillance aircraft, the JCS said. The Navy completed its acquisition of six P-8As last year with an aim to deploy them this year. Dubbed the "submarine killer," the P-8A is capable of conducting an array of missions, including anti-submarine, anti-surface, intelligence, surveillance and reconnaissance operations. Earlier on Wednesday, North Korean leader Kim Jong-un had supervised combined tactical drills of special operations, stressing that the most "crucial" task for the North's armed forces is to make full preparations for war. The combined tactical drills of special operations and tank subunits' joint fire strike demonstration took place the previous day. "Saying that our revolutionary armed forces are now in charge of not a few fronts, but the most important among them is the anti-imperialist class front and making full preparations for war is the most crucial task," Kim was quoted as saying by the KCNA. He also said the combat drills will help "turn the whole army into an elite ranks." Photos carried by state media showed North Korean troops in camouflage suits operating drones. South Korea's spy agency earlier said it detected signs of North Korean troops deployed to Russia learning drone operations and tactics from Moscow. Last month, North Korea acknowledged for the first time that it had sent troops to Russia to fight against Ukrainian forces. During a visit to the Russian Embassy in Pyongyang last week, Kim said the North's involvement in the war was "justifiable," calling it an exercise of sovereign rights under a mutual defence treaty with Moscow.
Globe and Mail
03-05-2025
- Business
- Globe and Mail
Aegis Capital Corp. Acted as Exclusive Placement Agent on a $5.6 Million Registered Direct & Private Placement Priced at the Market Under Nasdaq Rules for Sharps Technology, Inc. (NASDAQ: STSS)
NEW YORK, NY / ACCESSWIRE / September 29, 2023 / Aegis Capital Corp. acted as Exclusive Placement Agent on a $5.6 Million Registered Direct & Private Placement Priced at the Market Under Nasdaq Rules for Sharps Technology, Inc. (NASDAQ:STSS). About Sharps Technology, Inc. Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry. The Company's product lines focus on providing ultra-low waste capabilities, that incorporate syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary and has partnered with Nephron Pharmaceuticals to expand its manufacturing capacity in the U.S. About Aegis Capital Corporation Aegis Capital Corporation ("Aegis") has been in the wealth management and investment banking business since 1984. Aegis is dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Aegis also provides research, sales and trading services to institutional and retail investors. Aegis offers its investment representatives a conflict free service platform and is able to provide a full-range of products and services including investment banking, wealth management, insurance, retirement planning, structured products, private equity, alternatives, equity research, fixed income and special purpose vehicles. For more information about this offering or Investment Banking Services please email Banking@ or call (212) 813-1010. Brokerage and investment advisory services are offered through Aegis Capital Corporation, a member of FINRA and SIPC. Investment and insurance products offered are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested. View source version on
