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IPO

Reuters | Equities.com |

India’s largest renewable energy firm ReNew Power on Wednesday agreed to go public through a merger with blank-check firm RMG Acquisition Corporation II, in a deal that values the merged entity at roughly $8 billion.

The deal will be financed with cash proceeds of $1.2 billion, including investments of $855 million from investors including serial blank-check dealmaker Chamath Palihapitiya, funds managed by BlackRock and Sylebra Capital among others.


Reuters | Equities.com |

French tycoon Vincent Bollore will retain strong influence over Universal Music Group as a major shareholder following its planned 30-billion-euro ($36 billion) spin-off on the stock market by media conglomerate Vivendi .

Vivendi is seeking to extract the most value from its crown-jewel asset, the world’s biggest music label and home to singers such as Lady Gaga and Taylor Swift, as the music industry rebounds from a long downturn thanks to streaming revenues.


Reuters | Equities.com |

Bumble Inc, a dating app operator backed by buyout firm Blackstone Group Inc, sold shares in its initial public offering (IPO) on Wednesday at $43 apiece above its target range, to raise $2.2 billion

The IPO gave the Austin, Texas-based company a market capitalization of more than $7 billion. Bumble sold 50 million shares after raising its share offering several times, previously aiming to sell 45 million shares at a target price range of $37 to $39.