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Alibaba IPO priced at top of range, raises over USD 21 bln
2014-09-19 09:28:00| Telecompaper Headlines
(Telecompaper) Alibaba Group has priced its initial public offering at USD 68 per share, at the top end of the USD 66-68 range it gave, the Financial Times reported. The pricing translates to proceeds of USD 21.8 billion, making its New York Stock Exchange listing one of the world's largest and breaking the record for a technology IPO. With the over-allotment option, the group could raise up to USD 25 billion, and pass the largest listing ever, currently held by the Agricultural Bank of China which raised USD 22 billion in 2010. Alibaba's two-week roadshow went from Hong Kong and Singapore to London, New York, San Francisco and Boston. People familiar with the discussions said the company had been keenly focused on how the stock would trade, even if it meant leaving some money on the table. The price gives Alibaba a market capitalisation of USD 168 billion.
Apax to sell TriZetto for $2.7 bln
2014-09-15 14:43:37| IT Services - Topix.net
Apax Partners has agreed to sell TriZetto Corporation to Cognizant Technology Solutions Corp for $2.7 billion in cash. The firm bought TriZetto in 2008 in a deal valued about $1.4 billion.
Denmark's Auriga sells crop unit Cheminova to FMC Corp for $1.8 bln
2014-09-08 14:03:00| Chemicals - Topix.net
Auriga Industries has agreed to sell its crop protection unit Cheminova to U.S.-based chemicals firm FMC Corp for 10.5 billion Danish crowns , the Danish company said on Monday. The price for 100 percent of Cheminova shares corresponds to a cash consideration of about 8.5 billion crowns adjusted for net debt, equalling 333 crowns per Auriga share, the company said.
Akzo Nobel CEO solicited for Axalta bid worth more than $7 bln -Bloomberg
2014-09-02 05:42:17| Chemicals - Topix.net
Akzo Nobel NV Chief Executive Ton Buechner has been solicited for a deal to buy car paint coatings company Axalta Coating Systems for more than $7 billion, Bloomberg reported citing people familiar with the matter.
Iliad H1 revenues up 10.4% to over EUR 2 bln
2014-09-01 09:26:00| Telecompaper Headlines
(Telecompaper) French operator Iliad reported first-half revenues of EUR 2.02 billion, up 10.4 percent from a year earlier. Revenues from its fixed broadband business rose 3.6 percent to EUR 1.28 billion, and the mobile business expanded 24.1 percent to EUR 745.7 million in revenues. Iliad said it added 95,000 broadband customers in the period, for a total 5.735 million at the end of June. Despite an increase in VAT on TV services and sharp discounts form some competitors, the Free brand continued to add customers in the fixed market, accounting for an estimated 24 percent of net adds on the market. ARPU was relatively stable, at EUR 35.80 per month. In the mobile market, Free claims it took over 65 percent of net adds, growing its base by over 1 million customers to reach more than 9 million at the end of June, equal to a 13 percent market share. Iliad said its mobile phone financing offer launched last December helped sustain customer growth, even though this impacted profitability. A majority of new customers also still take the company's plan at EUR 2 a month. The handset sales, VAT increase, end to asymmetric termination rates and higher spending on fixed network upgrades led to a drop of 1 percent point in the EBITDA margin to 30.9 percent. Total EBITDA increased 6.6 percent to EUR 624.2 million, while net profit was down 1.3 percent to EUR 139.9 million, due to higher depreciation after the launch of 4G services.
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