investments, they become less inclined to buy more. As investors struggle with previous I.P.O. market is the performance of recent debuts, such as that of Square, the mobile-payments provider, whose stock has declined more than 25 percent since its first day of trading. Those conditions have made pricing an initial offering more difficult, as investors become much pickier and the risk that deals will flop becomes higher.įurther challenging the I.P.O. market has been rife with pain, as the broader gauges slumped this year and volatility spiked. JPMorgan Chase, Bank of America, Citigroup and Credit Suisse are advising and underwriting the offering, these people said. Octo is aiming for a valuation of at least $2 billion in the offering, said these people, who spoke on condition of anonymity because the government requires a quiet period leading up to the first day of trading. in the United States that it expects to generate $350 million in proceeds, according to people briefed on the planning discussions. Octo Telematics, an Italian company, makes technology for cars that allows insurance companies to monitor customers’ driving patterns and charge them according to their safety profiles. In a market that has scared off potential initial public offerings of stock, one company whose purpose is to manage risk is taking steps toward a market debut.
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