Latest news with #IPO
Free Malaysia Today
3 hours ago
- Business
- Free Malaysia Today
‘Baby Shark' creator Pinkfong applies for IPO in South Korea
'Baby Shark' is the most-watched YouTube video of all time with almost 16 billion views. (Reuters pic) SEOUL : The company behind 'Baby Shark', the most-watched YouTube video of all time, will go public in South Korea. Pinkfong Co submitted the paperwork to apply for an initial public offering on the small-cap Kosdaq index yesterday, the company said in an email. Though Pinkfong declined to comment on the size of the deal, Korea Economic Daily reported the company may fetch a valuation of about 700 billion won (US$507 million). Watched almost 16 billion times, the Korean jingle is more than 7 billion views ahead of Luis Fonsi's 'Despacito' on YouTube as kids worldwide keep watching the video endlessly, nearly a decade after it was released. Still, Pinkfong has struggled to replicate the success of that hit, with songs like 'Penguin Dance' garnering a more modest 124 million views. Pinkfong Co-founder Kim Min-seok owns more than 18% of the company, while Samsung Publishing Co holds almost 17%. Shares of Samsung Publishing dropped 8.1% today, extending losses for the second session.
Bloomberg
4 hours ago
- Business
- Bloomberg
‘Baby Shark' Creator Pinkfong Applies for IPO in South Korea
The company behind ' Baby Shark,' the most watched YouTube video of all time, will go public in South Korea. Pinkfong Co. submitted the paperwork to apply for an initial public offering on the small-cap Kosdaq index on Thursday, the company said in an email.
Mint
4 hours ago
- Business
- Mint
Nikita Papers IPO allotment date in focus. check latest GMP, 4 steps to check status
Nikita Papers IPO allotment date: Nikita Papers IPO share allotment will be finalised today (Friday, May 30). By visiting the registrar's website, Skyline Financial Services Private Ltd, investors who applied for the issue can verify the Nikita Papers IPO allotment status. Nikita Papers IPO opened for subscription on Tuesday, May 27, and closed on Thursday, May 29. Nikita Papers IPO subscription status on the last bidding day was 1.43 times, according to Investors can determine their assigned shares by checking the allocation details. The IPO allotment status will indicate the number of shares allocated. For those who didn't receive any shares, the company will initiate the refund process. Shares that have been successfully allocated will appear in the demat accounts of the recipients. For those who did not receive shares, the refund procedure will begin on Monday, June 2. On the same day, those who have been allocated will get their shares in their demat accounts. Nikita Papers IPO listing date is scheduled for Tuesday, June 3 on NSE SME. If you have applied for the Nikita Papers IPO, you can check your Nikita Papers IPO allotment status immediately on the website of the IPO registrar, Skyline Financial Services Private Ltd - Click the link above to access Skyline Financial Services Private Ltd, the registrar handling the Nikita Papers IPO. From the dropdown list, pick the IPO; the name will appear once the allocations are completed. You can check your status using one of three methods: Application No, Demat Account, or PAN. To verify your IPO allotment status, you can use the following identifiers. Income Tax PAN (Permanent Account Number) - Begin by checking your application status with your registered Income Tax PAN. After selecting PAN from the options, input your 10-digit alphanumeric PAN, then click the "Submit" button. Application number or CAF number - You may also check your allocation status by entering your application number or CAF number. After entering your application or CAF number, click "Search." This number is found on the acknowledgment document you received after submitting your IPO application. Ensure that you enter it exactly as it appears on that document, then click the "Submit" button to view the details about the shares allotted to you in the IPO. Beneficiary ID - As another option, you can use the beneficiary ID of your demat account. Next, input the client ID and depository participant (DP) ID combined as one string. The CDSL string will be numerical, while the NSDL string will be alphanumeric. Make sure to enter the DP ID and client ID exactly as they are shown. You can find these details in both your account statement and your online DP statement. After that, click the "Submit" button. The IPO status and the quantity of shares allotted to you in the Nikita Papers IPO will be displayed on the screen. Nikita Papers IPO GMP today or grey market premium was ₹ 0, which meant shares were trading at their issue price of ₹ 104 with no premium or discount in the grey market according to According to the grey market activities observed in the past 10 sessions, today's IPO GMP is showing a declining trend and is anticipated to fall further. The minimum GMP recorded is ₹ 0.00, while the maximum GMP stands at ₹ 8, as stated by experts from 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Telegraph
6 hours ago
- Business
- Telegraph
Losing this £50bn stock market listing is a humiliation for Reeves
We were willing to relax our listing standards. The Chancellor Rachel Reeves flew out to Beijing to beg for investment in Britain. And perhaps, most importantly of all, we were willing to turn a tactfully blind eye to the multiple allegations of brutal working conditions, poverty wages, and environmental carelessness. The City of London was planning to go to sometimes embarrassing lengths to secure the IPO of the Chinese fast fashion giant Shein. And yet, it has this week apparently decided on Hong Kong instead. There is no escaping a simple conclusion: this is a humiliation for London. The sorry saga should be a wake-up call for regulators who now have to take urgent action – or else the London market will soon disappear completely. It was meant to be the blockbuster new listing that would revive the London stock market. Shein was estimated to be worth upwards of £50bn, and while its dirt cheap T-shirts and dresses may not be to everyone's taste, it is a hugely successful business. It pioneered the model of manufacturing up-to-the-moment clothes in factories in China and then shipping them directly in small packages to customers across the United States and Europe. It faces plenty of competition, but it has still taken a big chunk of the market from both online and high street rivals such as Boohoo and Primark, and built a major company with sales last year of $38bn (£28bn), up by 19pc year-on-year, and profits of more than $1bn. By any standards, it is a formidably successful business. The Shein IPO would have been a coup for London, and it was one that regulators were desperate to secure. There were plenty of challenges. New York's Nasdaq market wouldn't touch it because of allegations of human rights abuses. The regulators took a lot longer than usual to approve a potential IPO amid questions over its labour standards. There were even questions raised by the UK's Anti-Slavery Commissioner. But all that was eventually brushed aside. The City decided it needed this listing, and it would do whatever was necessary to secure it. The market certainly needed a shot in the arm. The number of companies listed in London has fallen from 2,400 a decade ago to just 1,600 now. Businesses have left for the United States, where valuations are more generous, accepted takeover offers, or else simply decided the rules are too cumbersome and opted for private ownership instead. There are hardly any IPOs to replace them. There were only 18 listings last year, raising a mere £770m, an 18pc fall on a year earlier. There have been virtually none of any significance so far this year, and well-known companies such as Deliveroo are leaving the market. Shein might have been controversial but staging its IPO in London would at least have shown the City was still a contender on the global stage. The decision to list in Hong Kong instead is a humiliating blow. True, with the trade war started by President Trump still raging, the Chinese regulators may have decided that this was not the moment to list a company in the West (and Beijing still clearly makes the final decisions in these matters). And, in fairness, new levies on small parcels in both the US and Europe will be a challenge to Shein's business model, making it less attractive to investors. London doesn't need another over-hyped IPO of a company that then collapses in value. And yet, those caveats aside, the blunt truth is this: if London can't attract Shein, especially after it made so many concessions to try and nail it down, it won't be able to attract any global companies. It is hard to see that it is going to get any better over the next few years. There are very few new growth companies emerging in the UK, and the catastrophic decision to end the 'non-dom' rule that allowed foreign entrepreneurs to limit their tax liabilities in the UK is driving many more entrepreneurs abroad. Only this week we learnt that Guillaume Pousaz, the billionaire founder of fintech giant Checkout, has become the latest to leave, and we can be sure that his $10bn-plus company won't now be listed in the UK if he decides to float the business. The outlook is getting worse all the time. Shein's decision should be a wake-up call for both the Government and the regulators. On current trends, the last company to leave the market will delist around 2040 and the London stock market, once one of the greatest in the world, will cease to exist. We used to have vibrant stock markets in Manchester, Birmingham and Liverpool, but they all gradually disappeared. We shouldn't assume the same thing won't happen to London. Another 10 years, and it may simply be a sub-market of New York, and the jobs, taxes and wealth the City's equity traders create will all have vanished. The City needs to start ripping up the cumbersome governance codes that have made a quote painfully time consuming and expensive to maintain. The Government should scrap the stamp duty on shares so that trading is cheaper. It should ditch all the ESG – environmental, social and governance – junk that clutters up annual reports and restricts investment. And it should admit it made a huge mistake ending nom-dom status and bring back the tax break so that London can welcome the world's entrepreneurs again. Shein was always going to be a controversial IPO. But it was also a vital one for London. Now that it has been lost, the City needs to find something to replace it – because very soon it will be too late to rescue the stock market from terminal decline.
CNBC
7 hours ago
- Business
- CNBC
Shein's embattled IPO signals mounting troubles for fast fashion giant
Fast fashion giant Shein's troubles continue to mount after its much anticipated London initial public offering (IPO) reportedly hit a fresh roadblock. The e-commerce behemoth is now aiming for a Hong Kong listing after failing to receive approval from Chinese regulators for its much hyped London IPO, Reuters reported Wednesday. A London listing had been seen as a boon for the 16-year-old Chinese-founded company, providing international legitimacy and access to a deep and mature pool of Western investors. Analysts nevertheless said they were unsurprised by the move given ongoing scrutiny surrounding the firm. "We've always said that we thought Hong Kong would be a safer IPO option for Shein," Samuel Kerr, head of global equity capital markets at Mergermarket, told CNBC's "Squawk Box Europe" on Thursday. "For international investors, this was always going to be an IPO that had a lot of hair on it, and perhaps it's going to play better to a domestic audience," he added. Neither Shein nor Chinese regulator China Securities Regulatory Commission (CSRC) responded to CNBC's request for comment on the plans. Hong Kong Exchanges and Clearing Limited said it does not comment on individual companies. Shein has faced an uphill battle in its listing ambitions as it seeks to shake allegations over the use of forced labor to produce its $5 t-shirts and $7 shoes. While it vehemently denies the claims, Shein last year shifted its focus from a New York listing to London after facing continued pushback on such issues from U.S. lawmakers. Meanwhile, concern over its commercial practices prompted an EU investigation, which earlier this week found the company in breach of consumer protection laws, including the use of fake discounts, pressure selling and misleading shoppers over sustainability claims. The closure this month of the U.S.'s de minimis loophole for low cost goods — and possible similar measures by the EU and the U.K. — have only added to the company's woes. "The barrage of criticism, which looked set to intensify leading up to a London listing, is considered to be partly why Chinese regulators were reluctant to give the IPO the green light," Susannah Streeter, head of money and markets at Hargreaves Lansdown, wrote in a note Wednesday. Shein's proposed London listing was also seen as providing a much needed boost to the U.K.'s lackluster IPO market after a string of delistings and defections amid intense competition from other financial markets. "This will be a blow for London's ambitions to attract bigger names to list in the capital, but given the obstacles piling up, it's not surprising [that] the company seems to be veering off in another direction," Streeter said. Still, some expressed worry that positioning the controversial listing as the face of London's IPO revival could send the wrong signal to investors. "There was a bit of concern from some in London that Shein would be seen as a benchmark barometer for the future of the London Stock Exchange and for IPOs coming back to London. I think that would have been problematic," Kerr said. Additional scrutiny in the U.K. was also seen as piling pressure on Shein's valuation amid comparisons to other listed retail peers, such as Asos, Next and Boohoo. The company was already reportedly under pressure to cut its London listing valuation to around $30 billion, according to Bloomberg, down from a previously estimated $50 billion. "Going away from the U.K. and away from those U.K. peers will probably allow it to get a higher valuation," Kerr noted. Meantime, a Shein listing could market a further boon for Hong Kong in what is shaping up to be a strong year for the market following fresh flows of capital from on- and offshore investors. "It would have been a meaningful milestone for Shein to list in either London or New York, given the maturity, depth, and valuation potential of those markets," Rui Ma, founder and analyst at Tech Buzz China, told CNBC via email. "That said, markets are ultimately shaped by the quality of their listings and participants. Shein's listing is a win for Hong Kong — but not yet a turning point," she added. Shein investors CNBC spoke to declined to comment on the listing's reported relocation.
