Arab Today, arab today 13 ipos were withdrawn globally
Last Updated : GMT 22:52:21
Arab Today, arab today
Arab Today, arab today

13 IPOs were withdrawn globally

Arab Today, arab today

Arab Today, arab today 13 IPOs were withdrawn globally

Hong Kong - Arabstoday

Facebook led US initial public offerings (IPO) to their worst monthly performance since Lehman Brothers Holdings Inc collapsed, as Europe’s debt crisis scuttled IPO plans from New York to Hong Kong. The Bloomberg IPO Index, which tracks US equities in the first year after their IPOs, sank 15 per cent last month, with Facebook posting the worst one-week performance among the 30 largest US IPOs since 2011. The IPO index’s decline is in line with the drop in October 2008, the month after Lehman’s bankruptcy triggered the worst financial crisis since the Great Depression. Kayak Software Corp and Russian social network company VKontakte shelved listings this week, while Graff Diamonds Corp delayed a Hong Kong sale and the Formula One racing series said its Singapore IPO may not occur until later this year. Facebook’s 22 per cent slump since going public has shaken investors already reeling from tumbling equity markets and the slumping European economy, said Jeffrey Sica of Sica Wealth Management. “We’ve reached a breaking point where sentiment is so negative and scrutiny is so high that companies don’t want to go public and investors aren\'t prepared to look at them,” said Sica, who oversees more than $1 billion as chief investment officer of the Morristown, New Jersey-based firm. “You’re talking about long-standing damage to the psyche of companies wanting to go public and investors.” At least 13 IPOs have been withdrawn or postponed globally since Facebook’s May 17 offering, slowing a market for deals that’s struggled to keep momentum as US stock values have failed to recover to levels before the financial crisis. There have been 192 IPOs globally since the beginning of April, putting this quarter on pace to be the slowest since 177 initial offers were completed in the three months through September 2009, Bloomberg data show. Facebook completed the biggest technology IPO on record just as offerings were drying up, and has since lost more than $20 billion in market value. No other companies have completed or set pricing terms for US IPOs since the Menlo Park, California-based social networking company raised $16 billion. Laser hair removal company Tria Beauty, computer memory component maker Corsair Components and CyOptics, a network technology provider, have all postponed or withdrawn US IPOs in the wake of Facebook. Kayak, the Norwalk, Connecticut-based online travel service, was scheduled to begin its IPO roadshow recently and postponed following Facebook’s drop, according to a person close to the situation. Formula One chief executive officer Bernie Ecclestone said recently that Formula One could complete its initial share sale in Singapore by the end of the second quarter. On Thursday, he said the offering may have to wait, partly because of volatile equity markets. The Chicago Board Options Exchange Volatility Index rose 40 per cent in May, the largest monthly gain since July. London-based jeweller Graff Diamonds also suspended its $1 billion IPO in Hong Kong, citing “consistently declining stock markets.” VKontakte founder Pavel Durov said May 29 that Russia’s largest social networking website would postpone its IPO indefinitely. The company had revisited plans for a sale initially following Facebook\'s IPO, people with knowledge of the discussions said last month. Facebook’s IPO price indicated a market value of 107 times trailing 12-month earnings, more than all but two companies in the S&P 500 at the time of the offering, according to data compiled by Bloomberg. Technology companies seeking high valuations in initial sales will need to “come down to earth” to attract investors after Facebook’s post-IPO decline, said Nabi, who says he didn’t advise clients to subscribe to the IPO.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today 13 ipos were withdrawn globally Arab Today, arab today 13 ipos were withdrawn globally

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead

GMT 05:34 2017 Tuesday ,21 February

7 firms to list on 2nd Saudi stock board

GMT 19:53 2017 Monday ,20 February

Large stocks fall pushing down Nairobi bourse

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday