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Weibo files for IPO in US
2014-04-07 08:55:00| Telecompaper Headlines
(Telecompaper) Chinese messaging service Weibo has filed with the US Securities and Exchange Commission for an initial public offering of shares. The company plans to sell up to 23 million shares at a maximum price of USD 19 each, giving it total proceeds of USD 437 million. An exact price range will be set at a later date. The offering consists of 20 million Class A shares converted into American Depositary Shares, plus an over-allotment of 3 million shares. After the issue, Sina will still hold 56.9 percent of outstanding shares and 79.9 percent of voting rights at Weibo. Sina will receive much of the proceeds from the IPO in repayment of loans, while Weibo will use the remainder to increase its marketing and employee retention incentives. The messaging service claims over 129 million monthly active users, of which 70 percent access the site from a mobile phone. It generated USD 188 million in revenues in 2013, versus USD 66 million a year earlier, while its net loss narrowed to USD 38 million from USD 102 million in 2012.
Northwest Pipe Co Files (8-K) Disclosing Change in Directors or...
2014-04-05 05:33:56| Steel - Topix.net
Item 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS On March 31, 2014, Northwest Pipe Company entered into an Executive Employment Agreement with Gary A. Stokes.
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SAIL files FIR against Ramky Infrastructure for alleged fake steel
2014-04-04 20:14:54| Steel - Topix.net
Srinagar, Apr 4 : The Steel Authority of India Limited has lodged a First Information Report against Ramky Infrastructures, Hyderabad for allegedly using fake steel under the SAIL tag for construction purpose.
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Arista Networks files for IPO
2014-04-01 09:15:00| Telecompaper Headlines
(Telecompaper) Arista Networks, a competitor of Cisco in the cloud networking market, has filed for an initial public offering of shares. Since shipping its first products in 2008, US-based Arista has focused on its Linux-based Extensible Operating System and applications for cloud network management. It also offers 10/40/100 Gigabit Ethernet switches for the data centre market. Arista counted 2,340 customers at the end of 2013, mainly large internet companies such as Facebook, Microsoft and Yahoo as well as major banks and media groups. The company's sales jumped to USD 361 million last year from USD 193 million in 2012, and net profit more than doubled to USD 42 million. Arista plans to list on the New York Stock Exchange. For the purposes of the SEC filing fee, it estimated proceeds of the IPO at USD 200 million. Further details of the IPO were not disclosed. Arista said it did not have specific plans for the proceeds of the share sale, and the IPO was aimed more at creating a public market for its stock and financial flexibility. The company's main shareholders include its founders David Cheriton and Andy Bechtolsheim.
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Paula Dorf Files Lawsuit \n
2014-04-01 07:00:00| Happi Breaking News
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