The failed IPO of Uber led to serious losses for the Japanese telecommunications company SoftBank, Bloomberg writes. Losses amounted to about 9 billion dollars of its capitalization. On the first day of Uber’s share placement on the New York Stock Exchange last week, the service’s capitalization fell to $69 billion, as its shares fell from 45 dollars to 41 dollars 57 cents. Thus, it turned out that before the IPO large investors invested in Uber more than its current value. In early 2018, Japanese SoftBank acquired a portion of Uber shares at $48 per share. After the Uber's IPO, the share of SoftBank, which constituted 16.3% in the capital of Uber, fell to 12.8%. By the closore of the market in Tokyo, SoftBank shares fell by 3.25%, which, according to analysts, was caused by the failed IPO of Uber. Experts note that the results of this IPO pointed to the dependence of SoftBank on any news about companies from its investment portfolio.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial ...
European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, ...