Latest news with #shareSale
Reuters
7 hours ago
- Business
- Reuters
Taiwan's Wistron to raise up to $923 million in share sale
SYDNEY, June 5 (Reuters) - Taiwanese electronics manufacturer Wistron Corp ( opens new tab is looking to raise up to $923 million by selling global depository shares that will be listed in Luxembourg, according to a term sheet reviewed by Reuters on Thursday. The company, which is a supplier to Nvidia (NVDA.O), opens new tab, is selling up to 250 million depository shares in a price range of $36.20 to $36.93, the term sheet said. That is a discount of 4% to 6% to a closing stock price of NT$115 ($3.85) on Thursday. Wistron did not immediately respond to a request for comment from Reuters. The company plans to use the money raised in the share sale to buy raw materials in foreign currencies, the term sheet showed. The shares are due to start trading on June 16. Wistron said last month its new U.S. manufacturing facilities for customer Nvidia would be ready next year and that it was in talks with other potential customers. The facilities will produce high-performance computing and AI-related products. ($1 = 29.9060 Taiwan dollars)
CNA
7 hours ago
- Business
- CNA
Taiwan's Wistron to raise up to $923 million in share sale
SYDNEY :Taiwanese electronics manufacturer Wistron Corp is looking to raise up to $923 million by selling global depository shares that will be listed in Luxembourg, according to a term sheet reviewed by Reuters on Thursday. The company, which is a supplier to Nvidia, is selling up to 250 million depository shares in a price range of $36.20 to $36.93, the term sheet said. That is a discount of 4 per cent to 6 per cent to a closing stock price of NT$115 ($3.85) on Thursday. Wistron did not immediately respond to a request for comment from Reuters. The company plans to use the money raised in the share sale to buy raw materials in foreign currencies, the term sheet showed. The shares are due to start trading on June 16. Wistron said last month its new U.S. manufacturing facilities for customer Nvidia would be ready next year and that it was in talks with other potential customers. The facilities will produce high-performance computing and AI-related products. ($1 = 29.9060 Taiwan dollars)
Irish Times
3 days ago
- Business
- Irish Times
Elon Musk's xAI seeks $113bn valuation in share sale
Elon Musk's xAI is launching a $300 million (€262 million) share sale that values the group at $113 billion, as the world's richest man returns to his business empire and the race to develop artificial intelligence. The deal will allow staff to sell shares to new investors, according to people close to the situation, validating the pricetag struck when Musk's xAI start-up acquired his social media service X in March. The secondary stock offering, known as a tender offer, is expected to be followed by a larger investment round in which the company will offer new equity to outside investors, one of the people said. The March takeover valued the overall group at $113 billion: pricing xAI at $80 billion with X at $33 billion. Musk bought X, formerly Twitter, for $44 billion in October 2022. READ MORE xAI declined to comment. The new share sale comes after Musk, who helped bankroll Donald Trump's presidential campaign, stepped back last week from his role heading the administration's cost-cutting initiative. His time at the so-called Department of Government Efficiency (Doge) came to an end after he clashed with cabinet secretaries and criticised central parts of the Trump administration's policy agenda. The Tesla and SpaceX chief said he is refocusing on his business holdings after his companies suffered what he called 'blowback' over his ties to the president. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' Musk wrote on X late last month. 'I must be super focused on X/xAI and Tesla ... as we have critical technologies rolling out.' Musk has said the combined group will allow his two companies to benefit from combining models, computing power, distribution and talent. For instance, AI developers can better train their models on the social media group's data and tap its audience. However, he did not disclose further specifics on how the March deal was structured. The opaque transaction allowed X, which had alienated some advertisers after adopting Musk's hands-off approach to content moderation, to leverage the rising value of xAI. The AI start-up obtained a $45 billion valuation in a $5 billion private funding round late last year. Musk last year granted investors that backed his Twitter acquisition 25 per cent of the shares in xAI. Musk launched xAI in 2023 to take on Sam Altman's OpenAI and other Big Tech rivals. It quickly unveiled the Grok chatbot and built a supercomputer cluster dubbed Colossus, one of the biggest AI data centre projects in the US. As well as competing with Big Tech and the sometimes rough-and-ready image of Grok, Musk has also agreed partnerships. Last month, Microsoft announced it was making xAI models available to its cloud computing customers, while messaging app Telegram agreed to distribute Grok to its 1 billion users. Copyright The Financial Times Limited 2025
Reuters
3 days ago
- Business
- Reuters
Musk's xAI seeks $113 billion valuation in $300 million share sale, FT reports
June 2 (Reuters) - Elon Musk's xAI is seeking a valuation of $113 billion in a share sale worth $300 million, the Financial Times reported on Monday, citing people close to the situation.
Zawya
3 days ago
- Business
- Zawya
UAE's biggest bank FAB seeks to raise $480mln from secondary offering
DUBAI - First Abu Dhabi Bank (FAB) , the UAE's biggest bank by assets, is looking to raise around $480 million from a secondary share sale, the bookrunner for the deal said on Friday. The selling shareholder, whose name was not disclosed, is offering around 113 million shares at a price of 15.5 dirhams ($4.22) per share through an accelerated bookbuilding, said Citi, which is acting as bookrunner. It added that books were fully covered as demand exceeded the deal size. The offer price represents a 3.7% discount to FAB shares' closing price of 16.1 dirhams apiece on Abu Dhabi's bourse on Friday. FAB, whose top shareholder is the $330 billion Abu Dhabi wealth fund Mubadala, held assets worth 1.31 trillion dirhams as of the end of March. The bank has been seeking to expand including outside of the Gulf. Two years ago it said it had considered a bid for London-listed Standard Chartered. ($1 = 3.6726 UAE dirham)
