Aston Martin and the new SUV later this year

The British luxury car manufacturer Aston Martin (AML) is launching its first ever sport utility vehicle later this year. The new car, called DBX, will be important to the company after the weak demand in the UK and in Europe due to growing economic concerns and Brexit.

Aston Martin, which had its IPO last October in London Stock Exchange, is now trading below 5  pounds, while the IPO-price was 19 pounds per share, valuing the company at 4,3 billion pounds at that time.

The company was founded more than one hundred years ago by founders Lionel Martin and Robert Bamford in 1913 in a small London workshop. According to the company strategy Aston Martin will launch full EV capability by 2022. The aim is also to be the British car company that create the most beautiful and accomplished automotive art in the world.

The London Stock Exchange closed today down 1,13 % to 7067 points, while in Germany the Dax-index closed down 0,70 % to 11 412 points and in France the CAC 40 -index closed down 0,27 % to 5236 points.

 

 

 

 

 

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WeWork´s billions IPO and 6 billion debt

The US office-rental company WeWork is planning an IPO with 3-4 billions dollars. The company announced today more info about its figures, which shows the company had a revenue of 1,8 billion dollars during the first 6 months of 2019 and the loss was 700 million dollars. The company published also its plans to raise up to 6 billion dollars in debt.

– We have a history of losses and if we continue to grow at an accelerated rate, we may be unable to achieve profitability at a company level, WeWork said. According to the company also the average revenue per membership has declined and the company expects the trend to continue.

The Japan SoftBank is one of the largest investors behind WeWork and the company has offices in over 100 cities worldwide.

Corrected: WeWork is expected to raise 3-4 billion dollars according to Wall Street Journal

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WeWork to raise billions ahead of IPO-WSJ

The US workspace company WeWork is going to raise billions of dollars in debt before it goes public, writes the Wall Street Journal tonight. According to WSJ, WeWork would raise as much as 3 billion to 4 billion dollars in the coming months, citing people familiar with the matter.

The debt offering could grow as big as 10 billion dollars over the next several years, the WSJ writes. The meaning of this offering is to fund the company’s growth until its business is profitable, the people said.

One reason for this debt offering is also the other big IPOs during the spring time, Uber (UBER)  and Lyft (LYFT), which are trading below their IPO pricing at the moment.

According to the news, Goldman Sachs Group and JP Morgan Chase & Co are leading the structuring and backing the deal.

WeWork, based in New York, made a 1,9 billion dollars loss last year with a 1,8 billion dollars revenue. The company has been valued at 47 billion dollars this year in the earlier funding rounds.

WeWork filed the IPO at the end of last year and the initial offering is expected to be during this year.

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Yandex Taxi to issue new shares in IPO – Reuters

Russia´s largest online taxi service Yandex Taxi is likely to sell new shares in its initial public offering. According to Reuters the company representative COO Greg Abovsky told that the company has not decided on a stock exchange, or the timing or the size of its IPO.

-We consider the Moscow Exchange an important exchange, he told Reuters and added that most likely there would be primary shares, not secondary in the IPO.

Yandex Taxi and Uber combined their resources in Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakstan in 2017. Uber has 36,6 % of the shares, Yandex 59,3 % and Yandex Taxi staff the rest.

The US ride-hailing company Uber´s (UBER)  IPO was in May and the company listed its shares on Nyse in New York with the market value of 82 billion dollars. The rival company Lyft  (LYFT) listed its shares in Nasdaq already in April with the market value of 24,3 billion dollars.

Uber has also expanded its service offerings from taxi to flying taxi service in New York and customers can now ride from Manhattan to JF Kennedy and Newark airports with 199 dollars. The company has also announced it will start electric-flying taxi service in Australia, Melbourne next year, while the other piloting cities are Dallas and Los Angeles in the US.

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Airbnb to offer luxury property rentals

The US property rental service & hospitality platform Airbnb said today that it has launched a luxury property service for its customers.

This new service “Airbnb Luxe” offers 2000 new listings from entire islands to castles and mansions and the prices range from 14000 dollars a week average to 1 million dollars a week for a private atoll near Tahiti with a staff of 50.

This new rental service include also VIP service. – From personal chefs to massage therapists, a local team of professionals has you covered, the company says.

According to the company the luxury rental property market has not offered security for high-profile and mega-rich clients before, Bloomberg News says.  This new service will include the total wellbeing.

The company takes a percentage of the cost of each booking and the company is valued at 31 billion dollars before the initial public offering, perhaps next year.

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US IPOs are expected to continue- WSJ

The recent ride-hailing IPOs have not caused the delaying of other IPOs in the row, writes the Wall Street Journal today. Although the Uber (Uber)  and Lyft (Lyft) share prices are down 7 % and 25 % respectively from their IPO prices, the IPO window is still open.

The newspaper reminds that for example Zoom Video Communications (ZM) and the plant based protein food producer Beyond Meet (BYND) were up 150 % and 257 % from their offerings. Pinterest (PINS) fell on Friday after the quarterly report, but it is up 41 from its IPO level.

Other listings on Friday, the content delivery company Fastly (FSLY) ended nearly up 50 % to 23,99 dollars and the Chinese “Starbucks coffee” Luckin Coffee (LK) also had a strong market debut.

According to WSJ and Dealogic, the IPO May listings totalled so far 15,22 billion dollars, while the sum was 6,23 billion dollars in April and 4,79 billion dollars in March.

Companies, that are still on the pipeline, are for example cybersecurity Crowd Stick and messaging company Slack Technologies, hotel reservations Airbnb and office space rental company WeWork.

On Friday the SP& 500 index ended down 0,58 % to 2859 points, the Dow Jones ended down 0,38 % to 25 764 points and Nasdaq down 1,04 %  to 7816 points.

In Asia the Nikkei rose 0,89 % to 21 250 points in Tokyo, while in Hong Kong the Hang Seng index went down 1,16 % to 27 946 points.

In Europe, the German Dax-index ended down 0,58 % to 12 238 points and in London the FTSE 100 index also down 0,07 % to 7348 points.

The sterling traded at 1,27 dollars and at 1,139 euros. The US dollar was trading at 109,98 yens.

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