Dennis Mutua

Airbnb Goes Public Raising around $3.5 Billion in the IPO

Finally much anticipated initial public offering of vacation rental online market place Airbnb happened on December 9 with the company pricing its share at a higher price than earlier issued price range. In the IPO Airbnb sold its shares at $68 per share, the company had earlier issued a price range of $44 to $50 […]

Whitecap Resources to Acquire TORC Oil in a $430.83 Million Deal

Canada based crude petroleum and natural gas extractor Whitecap Resource Inc. (TSE: WCP) announced having agreed to purchase competitor TORC Oil & Gas Ltd (TSE: TOG) n a deal worth C$552 million ($430.81 million). Whitecap said the deal will be an all-stock one. Canada has the third largest oil reserves and it’s fourth largest oil […]

Blue Moon Raises $1.27 Billion From Hong Kong IPO

China based detergent manufacturer Blue Moon Group Holdings went public on the Hong Kong Stock Exchange market after pricing its shares at HK$13.16. This piece was at the top range of HK$10.20 to HK$13.16 issued by the company last week for the initial public offering. In the IPO the company sold 747.1 million shares giving […]

Northrop Selling its Federal IT and Mission Support Business for $3.4 Billion

United States based aerospace and defense company Northrop Grumman Corp. (NOC) will be selling its federal IT and mission support services business to private equity firm Veritas Capital in a deal worth $3.4 billion. Northrop which is among world’s largest producers of weapons and provider of military technology said the deal will be an all […]

Uber Selling its Autonomous Driving Unit for $4 Billion

Ride hailing company Uber Technologies Inc. (UBER) will be selling its self-driving unit Uber Advanced Technologies Group (ATG) to autonomous driving startup company Aurora for $4 billion. Uber believes this deal is good for the company since it will help it achieve its profitability goals. The company’s CEO Dara Khosrowshahi says this move will propel […]

Sinovac Receives $15 Million to Propel Production of COVID-19 Vaccine

China based Biotechnology Company Sinovac Biotech (SVA) confirmed having received a $15 million funding from a local company to increase the production capacity of its COVID-19 vaccine known as ‘CoronaVac’. Following some positive results from phase 2 clinical trials Sinovac has been expanding supply deals and trials with more countries getting on board for the […]

JD.com Makes History as the First Online Platform to Accept China’s Digital Currency

Chinese e-commerce company Jingdong commonly known as JD.com has made history becoming the first online platform to accept China’s digital currency. The company said it’s very much proud of becoming first Chinese virtue platform to accept China’s homegrown digital currency. Going forward, the company’s fintech unit JD Digits will be accepting digital yuan as a […]

XPO Logistics Will be Splitting its Warehousing and Logistics Business

Transportation and contract logistics company XPO Logistics Inc. (XPO) will be splitting its warehousing and Logistics business to two different business entities further they will exist as two different public companies. The company broke the news further adding freight transportation and truck brokerage businesses will stick with XPO whereas the new entity will focus on […]

Snowflake Losses Widens in Third Quarter Results

Cloud-based data-warehousing company Snowflake Inc. (SNOW) reported its third quarter results further generating a bigger loss compared to the previous quarter. For the third quarter ending October 31, the company reported a net loss of $168.9 million. This loss is far much wider compared to the $88.1 million net loss the company reported at a […]

Canada to Introduce Digital Tax for Big Tech Companies

Canada has made public its plans to introduce digital tax on big tech companies starting from 2022. The news was announced by Finance Department of Canada which says it will impose the digital taxes until major economies come up with a coordinated approach on taxation concerning multinational tech giants. This digital tax will come into […]