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Finance

Reuters | Equities.com |

Wall Street's record-breaking run for stock market flotations shows no signs of slowing down.

With more than six months until the year ends, U.S. initial public offerings have already totaled $171 billion, eclipsing the 2020 record of $168 billion, according to data from Dealogic.


Reuters | Equities.com |

BlackRock Inc has become the first global asset manager licensed to start a wholly owned onshore mutual fund business in China, as the government opens up the country's $3.5 trillion mutual fund industry.

BlackRock, the world's biggest asset manager, on Friday said the China Securities Regulatory Commission (CSRC) had given its Chinese fund management unit approval to begin operations.


Reuters | Equities.com |

Global money market funds attracted heavy investment flows in the week to June 2, as investors were cautious about the likelihood of global central banks tapering their monetary stimulus policies amid a rise in inflation levels.

According to Refinitiv Lipper data, money market funds had net purchases of $20.5 billion, making a fourth successive week of inflows.


Kimberly Redmond | Equities.com |

Oatly Group AB, the popular vegan milk maker, raised over $1.4 billion in gross proceeds its initial public offering (IPO), the company announced in a statement.

On Wednesday evening, the Sweden-based company priced its IPO at $17 per American Depositary Share (ADS), at the top of its indicated range, giving it a valuation of $10 billion. Each ADS represents one ordinary share.


Reuters | Equities.com |

Apollo Global Management Inc said on Thursday co-founder Josh Harris has decided to step down from his day-to-day role as managing director on completion of the private-equity giant's deal with Athene Holding Ltd.

Harris will "return to his roots" as an investor and entrepreneur, Apollo said, adding that he will remain on the company's board and its executive committee.


Kimberly Redmond | Equities.com |

The largest shareholder of At Home Group plans to oppose a deal to take the home décor chain private because it believes the sale price is too low, according to The Wall Street Journal.

In a letter sent Sunday to the board of directors, CAS Investment Partners – which owns around 17% of At Home’s shares – wrote that it plans to vote against a $2.4 billion proposed sale to private equity firm Hellman & Friedman.


Reuters | Equities.com |

Private-equity firm KKR & Co Inc said on Tuesday its first-quarter after-tax distributable earnings surged 63% year-on-year, driven by growth in its capital markets business and public market holdings.

After-tax distributable earnings (DE) – the cash used for paying dividends to shareholders – rose to $660.2 million from $406.3 million in the previous year. That translated to DE per share of 75 cents, which exceeded the average Wall Street analyst estimate of 63 cents, according to financial data provider Refinitiv.


AP News | Equities.com |

Sales of new homes surged 20.7% in March to the highest level since 2006, rebounding from a sharp decline the previous month when severe winter storms wreaked havoc in many parts of the country.

Sales climbed to a seasonally adjusted annual rate of 1.02 million last month after a 16.2% tumble in February, the Commerce Department reported Friday. It was the fastest pace for new home sales since the housing boom of the mid-2000s when sales reached 1.04 million units in August 2006.


Reuters | Equities.com |

Credit Suisse put large blocks of shares in media company Discovery Inc and iQIYI Inc on the market after regular trading ended on Tuesday, multiple sources said, as the bank continued unwinding positions related to last month’s meltdown of Archegos Capital.

Credit Suisse has not yet finished unwinding its Archegos positions, said one source familiar with the matter. The bank has taken a $4.7 billion hit from dealings with Archegos Capital, prompting it to overhaul the leadership of its investment bank and risk divisions.


Kimberly Redmond | Equities.com |

The US Securities and Exchange Commission (SEC) said it is reviewing filings and seeking clearer disclosures for special purpose acquisition companies (SPACs).

On Thursday, John Coates, acting director of the SEC’s division of corporate finance, said the agency is stepping up scrutiny following a dramatic increase in the use and popularity of SPACs over the past six months.