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Trash-To-Biodiesel Firm Files for $100M IPO
Trash-to-biodiesel producer Changing World Technologies, has filed for an auction-style IPO run to raise as much as $100 million. The company’s plant takes about 250 tons daily in carcasses and other waste from a ConAgra Butterball turkey factory and turns it into fertilizer and diesel fuel suitable for use as heating oil. Trash-to-biodiesel producer Changing World Technologies, has filed for an auction-style IPO run to raise as much as $100 million. The... more
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Visa raises $17.9 billion in record IPO
New York, Mar 19 : Visa Inc burned its name into the record books for US initial public offerings on Tuesday, raising USD 17.9 billion as investors seized on its growth potential and lack of direct exposure to the global credit crisis.
San Francisco-based Visa, the world’s largest credit card network, sold 406 million class A common stock for USD 44 per share, above the forecast range of USD 37 to USD 42.
Visa will begin trading on the New York Stock Exchange on Wednesday.
Anticipation for the IPO was high on hopes it will emulate the success of smaller rival MasterCard Inc, whose shares have more than quadrupled since its 2006 IPO.
The stock could jump as much as 10 percent in first-day trading on Wednesday, said Francis Gaskins, president of research firm IPOdesktop.com.
Visa’s pricing and optimism about possible first-day gains were likely helped by Tuesday’s rally, as US stocks rang in their biggest one-day gains in more than five years.
Only days ago, US stocks plunged on the near-collapse of Bear Stearns Cos Inc.
MasterCard has done well despite the market slump, Gaskins pointed out. The stock rose 4.3 percent, or USD 8.73, to USD 210.25 on Tuesday, and gained almost 2 percent in aftermarket trading.
Both MasterCard and Visa are seen as good bets to avoid the market turmoil. Analysts say neither is directly exposed to rising defaults and late payments because it does not issue cards, unlike rivals such as American Express Co.
“Visa is much bigger than MasterCard,” said David Robertson, publisher of Nilson Report, an industry newsletter.
“The expectation is that by being freed from the constraints of being a not-for-profit member-owned association, it could become an even more formidable competitor to MasterCard,” Robertson added. New York, Mar 19 : Visa Inc burned its name into the record books for US initial public offerings on Tuesday, raising USD 17.9 billion... more -
Visa sets the stage for largest IPO in history
Visa Inc. has its sights on generating the largest proceeds ever raised in a U.S. initial public offering, proposing a whopping $18.8 billion deal that will likely begin trading on the New York Stock Exchange within the next several weeks Visa Inc. has its sights on generating the largest proceeds ever raised in a U.S. initial public offering, proposing a whopping $18.8 ... more
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Current Files for $100M IPO
"In its Securities and Exchange Commission filing, the company stated that, "We believe the combination of our television and Internet platforms creates an immersive and interactive viewer experience for our growing global audienceÃ??"
In 2006 and 2007, Current Media stated that it recorded revenue of $37.9 million and $63.8 million, respectively. It also noted that operating losses were $4.8 million in 2006 and $6.1 million in 2007.
The company did not state how many of the 200 million Class A shares will be sold or an expected price. Besides Gore, shareholders in the company include Blum Capital Partners, Yucaipa Corporate Initiatives Fund I, L.P, DirectTV and Comcast CTV Holdings.
Current Media did not reveal what equity stake Gore, an executive chairman, had in the company. The former VP and Chief Executive Joel Hyatt will control all shares of the Class B stock, which carries super-voting power." "In its Securities and Exchange Commission filing, the company stated that, "We believe the combination of our television an... more -
Al Gore's Current Media Plans to Sell Shares in IPO
Jan. 28 (Bloomberg) -- Current Media Inc., the television news network co-founded by former U.S. Vice President Al Gore, plans to raise as much as $100 million in an initial public offering.
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Current Media, which has yet to turn an annual profit, lost $9.86 million in 2007. The company said it expects to continue to incur losses in the future as it invests more money to build the business.
Just want to know what all of ya think about this.
Didn't Current turn a profit last year? That's what I heard. Jan. 28 (Bloomberg) -- Current Media Inc., the television news network co-founded by former U.S. Vice President Al Gore, plans to rais... more -
VMWare saves IT money...and makes a fortune!
In one of the tech sector's most anticipated initial public offerings since Google, shares of VMware of Palo Alto rocketed 76 percent in their first day of trading Tuesday.
After expenses, VMware was expected to take away $957 million, the largest technology stock premiere since Google raised $1.2 billion in 2004.
The one-day gain was the largest for an IPO this year, according to Renaissance Capital's IPOhome.com. Renaissance Capital analyst Paul Bard said VMware is "one of the most compelling high-tech companies to go public since Google." In one of the tech sector's most anticipated initial public offerings since Google, shares of VMware of Palo Alto rocketed 76 per... more
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