Latest news with #tradingdebut
Yahoo
4 days ago
- Business
- Yahoo
Vyome to leverage US-India ties to tackle $100B immuno-inflammatory market
-- U.S.-India focused clinical-stage pharmaceutical maker Vyome Holdings (Nasdaq: HIND) rang the opening bell at the NASDAQ on Friday, celebrating Indian Independence Day and its trading debut after a reverse merger with ReShape Lifesciences. Shares of HIND last traded at $13.15, down 16%. The company is targeting the immuno-inflammatory market in the US and globally, valued at $100 billion. "The HIND journey begins today, a journey in which anyone, anywhere in the world can now participate thanks to our stock being on Nasdaq," said Krishna Gupta, Chairman of Vyome. Co-founder Shiladitya Sengupta, who also serves as Associate Professor of Medicine at Harvard Medical School, pointed to the company's "very deep" innovation pipeline and access to talent in both the United States and India. On how the US-India tech and innovation pipeline positions the company for growth, Gupta exclusively told 'The company has a pipeline of clinical stage assets; for each, Vyome has a plan to unlock value over the next 12-24 months. The research is being done collaboratively across India and the US.' The company decided to go public via a reverse merger versus the traditional route because they 'felt like it would be an easier and more efficient path if we could find a very clean public shell, which we did,' Gupta added. 'We were confident that opening up access to our vision to the entire world was the way we wanted to build the company going forward.' The Chairman doesn't feel the recently strained U.S./India relationship related to tariffs and Russian oil will have a negative impact on the company. 'It hasn't, nor do we think the relationship will be strained much longer - it's crazy to think that may be a contrarian view at this specific moment,' Gupta said in response to a question about whether the strained U.S./India relationship impacts the company. 'This is the defining partnership of the times, and the US and India will remain friends and collaborators, particularly in innovation-related endeavors.' Related articles Vyome to leverage US-India ties to tackle $100B immuno-inflammatory market Opendoor stock jumps after CEO exit, retail activists claim win The race for sovereign AI is intensifying. Here's what you need to know Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
5 days ago
- Business
- Bloomberg
Exchange Operator MIAX Jumps 33% After $345 Million IPO
Miami International Holdings Inc. rose 33% from its initial public offering price as the exchange operator became the most recent financial services business to get a warm welcome in its trading debut. Miami International Holdings Chairman and CEO Thomas Gallagher has more on the story. (Source: Bloomberg)
Yahoo
5 days ago
- Business
- Yahoo
Exchange Operator MIAX Jumps 33% After $345 Million IPO
(Bloomberg) -- Miami International Holdings Inc. rose 33% from its initial public offering price as the exchange operator became the most recent financial services business to get a warm welcome in its trading debut. The US-Canadian Road Safety Gap Is Getting Wider Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets Shares rose to $30.48 as of 2:16 p.m. on Thursday, versus an IPO price of $23. MIAX, as the company is known, raised $345 million in a heavily oversubscribed deal that priced above the marketed range of $19 to $21 apiece. The trading gives MIAX a market value of $2.4 billion based on the outstanding shares listed in its filings. MIAX operates nine securities and derivatives exchanges, and has a 16% market share of the US-listed options market. Options trading has exploded since the Covid-19 pandemic and the meme-stock craze of 2021. Options in the US trade on exchanges, meaning MIAX and its competitors, such as Cboe Global Markets Inc., Nasdaq Inc. and Intercontinental Exchange Inc. have benefited from the rise in retail trading. 'The retail presence since the pandemic has fueled our growth,' MIAX Chairman and Chief Executive Officer Thomas Gallagher told Bloomberg in an interview from the New York Stock Exchange, where he rang the opening bell. MIAX investors include Warburg Pincus, Citadel Securities and Susquehanna International Group. Around a third of its shares are owned by executives and directors, with a fifth of the company's shares owned by market making firms. Instead of dealing with retail traders directly, exchanges serve the market makers who buy retail order flow, allowing brokers like Robinhood Markets Inc. and Charles Schwab Corp. to offer free trading to small investors. Gallagher said MIAX's main focus was serving its market makers. 'We are laser beam focused on the experiences of the Citadel's, the Susquehanna's, the IMCs, the Optivers of the world, the true market makers,' he said, referring to the world's largest options trading firms. MIAX is planning to list futures and options on the Bloomberg 500 Index, a competitor to the S&P 500 Index. Bloomberg LP, the parent company of Bloomberg News, offers index products for various asset classes through Bloomberg Index Services Ltd. Last year, MIAX launched a new options exchange, known as MIAX Sapphire. MIAX is setting up a new open outcry trading floor in Miami. The company is confident that the better weather and lower taxes will be able to lure floor traders from other parts of the country. Florida is 'a very favorable tax jurisdiction,' Gallagher said, compared to cities like San Francisco, Chicago, Philadelphia and New York. In 2023, MIAX bought the US-regulated crypto derivatives exchange and clearing house LedgerX from FTX after the Sam Bankman-Fried-led company spectacularly imploded the year before. MIAX has wound down much of LedgerX's crypto clearing business, according to the filings. MIAX's debut comes one day after that of Bullish, a crypto exchange and data company, which surged 84% on its first trading day, and continued to gain on Thursday. Trading venues backed by large Wall Street firms have a strong record as public companies. Shares in bond market matchmaker Tradeweb Inc. have risen more than 380% since the company's 2019 IPO. The offering was led by JPMorgan Chase & Co., Morgan Stanley and Piper Sandler Cos. The company's shares trade on the NYSE under the symbol MIAX. --With assistance from Anthony Hughes. (Updates trading in first three paragraphs and with context throughout.) Americans Are Getting Priced Out of Homeownership at Record Rates Dubai's Housing Boom Is Stoking Fears of Another Crash What Declining Cardboard Box Sales Tell Us About the US Economy Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan ©2025 Bloomberg L.P. 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
Yahoo
5 days ago
- Business
- Yahoo
Exchange Operator MIAX Jumps 36% After $345 Million IPO
(Bloomberg) -- Miami International Holdings Inc. rose 36% from its initial public offering price as the exchange operator became the most recent financial services business to get a warm welcome in its trading debut. The US-Canadian Road Safety Gap Is Getting Wider Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets Shares rose to $31.30 as of 12:26 p.m. on Thursday, versus an IPO price of $23. MIAX, as the company is known, raised $345 million in a heavily oversubscribed deal. Shares were marketed in a range of $19 to $21 apiece, according to the company. The trading gives MIAX a market value of $2.5 billion based on the outstanding shares listed in its filing. MIAX operates nine securities and derivatives exchanges, and has a 16% market share of the US-listed options market. Options trading has exploded since the Covid-19 pandemic and the meme-stock craze of 2021. Options in the US trade on exchanges, meaning MIAX and its competitors, such as Cboe Global Markets Inc, Nasdaq Inc and Intercontinental Exchange Inc. have benefited from the rise in retail trading. 'The retail presence since the pandemic has fueled our growth,' MIAX chairman and Chief Executive Officer Thomas Gallagher told Bloomberg in an interview from the New York Stock Exchange, where he rang the opening bell. MIAX investors include Warburg Pincus, Citadel Securities and Susquehanna International Group. Around a third of its shares are owned by executives and directors, with a fifth of the company's shares owned by market making firms. Instead of dealing with retail traders directly, exchanges serve the market makers who buy retail order flow, allowing brokers like Robinhood Markets Inc. and Charles Schwab Corp. to offer free trading to small investors. Gallagher said MIAX's main focus was serving its market makers. 'We are laser beam focused on the experiences of the Citadel's, the Susquehanna's, the IMCs, the Optivers of the world, the true market makers,' he said, referring to the world's largest options trading firms. The company's debut comes one day after that of Bullish, a crypto exchange and data company, which surged 84% on its first trading day, and continued to gain on Thursday. Trading venues backed by large Wall Street firms have a strong record as public companies. Shares in bond market matchmaker Tradeweb Inc. have risen 386% since the company's 2019 IPO. The offering was led by JPMorgan Chase & Co., Morgan Stanley and Piper Sandler Cos. The company's shares trade on the NYSE under the symbol MIAX. --With assistance from Anthony Hughes. (Updates trading, adds market cap) Americans Are Getting Priced Out of Homeownership at Record Rates Dubai's Housing Boom Is Stoking Fears of Another Crash Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Why It's Actually a Good Time to Buy a House, According to a Zillow Economist What Declining Cardboard Box Sales Tell Us About the US Economy ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
5 days ago
- Business
- Bloomberg
Exchange Operator MIAX Jumps 39% After $345 Million IPO
Miami International Holdings Inc. rose 39% from its initial public offering price as the exchange operator became the most recent financial services business to get a warm welcome in its trading debut. Shares rose to $32 on Thursday, versus an IPO price of $23. MIAX, as the company is known, raised $345 million in a heavily oversubscribed deal. Shares were marketed in a range of $19 to $21 apiece, according to the company.
