SA: Saudi Arabia plans to pour $40bn into AI technology – report
SEEKING ALPHA reports: Saudi Arabia is apparently creating a fund worth about $40B to invest in ...
Sourced from SEEKING ALPHA‘s Wall Street Breakfast:
The market for initial public offerings looked like it might finally be recovering from the WeWork (WE) debacle before COVID-19 brought IPOs to a halt over the past two months, but there are now signs of life as capital markets recover. Online used car seller Vroom (VRM) is set to price shares between $15 to $17, aiming to raise about $318.8M at the top end of the range with a market cap of $1.92B. Shift4 Payments (FOUR) has also set terms for its initial public offering of common stock, while Warner Music (WMG) will price shares in what could become the largest New York IPO so far in 2020.
Hong Kong is seeing its first $1B+ listing in more than six months as Chinese internet company NetEase (NASDAQ:NTES) launched a second listing that could raise as much as $2.8B. The financial hub hasn’t had a hiatus of billion-dollar initial public offerings last this long since the financial crisis, when there were no such deals for almost a year. Only $3.47B has been raised through IPOs in Hong Kong this year, putting it behind both New York and mainland China.
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