Latest news with #Delaware-based
News18
2 days ago
- Business
- News18
Meesho IPO: Shareholders Approve Rs 4,500 Crore Fundraise Via Public Issue
Last Updated: Meesho has officially changed its name from Fashnear Technologies Private Limited to Meesho Private Limited, ahead of IPO launch. Meesho IPO: The way for the launch of Meesho IPO has been cleared with the approval of its shareholders for a plan to raise Rs 4,500 crore ($500 million) through a fresh issue of equity shares. In the filing with Registrar of Companies, Meesho announced that the resolution was passed during an Extraordinary General Meeting on June 25, 2025. Additionally, the shareholders approved the designation of co-founder Vidit Aatrey as chairman, managing director, and CEO. It is part of Meesho's board rejig ahead of the launch of its IPO. Meesho is reportedly expected to file Draft Red Herring Prospectus (DRHP) in the coming months under the confidential route, as MoneyControl reported earlier. The company is planning to raise a total of around Rs 8,500 crore ($1 billion) through a mix of primary capital and an offer for sale (OFS). Earlier, Meesho shifted the headquarters to India as part of its public listing plan. Meesho mergered its Delaware-based entity Meesho INC. with its Indian arm. Meesho has officially changed its name from Fashnear Technologies Private Limited to Meesho Private Limited, as per a certificate of incorporation issued by the Ministry of Corporate Affairs on May 13. The name change, effective from May 13, 2025, aligns with Meesho's strategic focus on strengthening its brand identity as a leading e-commerce platform in India. It reflects Meesho's evolution into a comprehensive online marketplace. The company will now begin the process for its IPO, though the timeline for the listing has not been disclosed. While Prosus and SoftBank jointly hold around 22 percent of Meesho, this stake is relatively lower compared to the combined ownership of Elevation Capital and Peak XV Partners, the two largest investors in the e-commerce startup. Meesho's revenue surged from Rs 3,240 crore in FY22 to Rs 5,735 crore in FY23 and further to Rs 7,615 crore in FY24. At the same time, its net losses have dramatically reduced from Rs 3,248 crore in FY22 to just Rs 305 crore in FY24, highlighting its improved financial health. First Published:
Mint
2 days ago
- Business
- Mint
Meesho gets nod from shareholders to raise ₹4,250 crore through IPO
Meesho IPO: E-commerce startup Meesho has got the green light from its shareholders to raise ₹ 4,250 crore through an initial public offering, according to the regulatory filings of the company. As per a report by PTI that has cited the regulatory filings, the resolution for IPO was passed in the Extraordinary General Meeting on June 25. The shareholders approved raising up to ₹ 4,250 crore through issuance of fresh equities, the filing dated June 27 showed. 'The proposed offering will include a fresh issue of equity shares aggregating up to ₹ 4,250 crore and an offer for sale of equity shares by certain existing shareholders of the company,' the filing said, according to the report. However, the final size of the IPO could only be finalised after the company files its DRHP with SEBI. This step confirms Meesho's plans to float an IPO soon. The next step is to file its draft papers with markets regulator SEBI, whose approval is required in order to raise the funds through the public offering route. As per a report by The Economic Times, Meesho plans to file its Draft Red Herring Prospectus (DRHP) with the SEBI through the confidential route. The shareholders also approved a change in designation of Meesho Co-Founder and CEO Vidit Aatrey as chairman and managing director of the company, as per the report. Meesho IPO approval from shareholders comes after the company completed its domicile shift to India from the US. As per another PTI report on June 23 quoting sources, the SoftBank-backed company shifted its domicile to India as part of its plan for public listing in the country. Meesho has merged its Delaware-based entity Meesho Inc. with its Indian arm, which has been approved by the National Company Law Tribunal, Bengaluru bench, a regulatory filing showed. The company filing showed that the transaction pertaining to Meesho Limited is related to a 'merger involving a foreign company'. As per a certificate of incorporation issued by the Ministry of Corporate Affairs on May 13, Meesho changed the name of Fashnear Technologies Private Limited to Meesho Private Limited. The order for the merger of Meesho Inc. with Indian entity Fashnear was passed by the tribunal on May 27, PTI reported. Flipkart, which also plans to launch an IPO soon, is also in the process of shifting its domicile from Singapore to India
Yahoo
3 days ago
- Business
- Yahoo
If You Invested $1000 in Leidos a Decade Ago, This is How Much It'd Be Worth Now
For most investors, how much a stock's price changes over time is important. Not only can it impact your investment portfolio, but it can also help you compare investment results across sectors and industries. FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks. What if you'd invested in Leidos (LDOS) ten years ago? It may not have been easy to hold on to LDOS for all that time, but if you did, how much would your investment be worth today? With that in mind, let's take a look at Leidos' main business drivers. Founded in 1969, Delaware-based Leidos Holdings, Inc. is a global science and technology leader that serves the defense, intelligence, civil and health markets. Its core capabilities include providing solutions in the fields of cybersecurity; data analytics; enterprise IT modernization; operations and logistics; sensors, collection and phenomenology; software development; and systems engineering. During the first quarter of 2024, Leidos Holdings completed a realignment of its segment and reporting structure. Consequently, the company currently operates through the following four business segments: National Security and Digital: This business segment offers technology-enabled services and mission software capabilities in the areas of cyber, logistics, security operations and decision analytics, as well as IT operations and digital transformation programs. In 2024, this division generated revenues of $7,365 million, contributing 44.2% to Leidos' total & Civil: This segment provides services and solutions in the areas of public health, care coordination, life and environmental sciences and transportation. Its core capabilities include health information management services, managed health services, systems and infrastructure modernization, and life sciences research and development. The unit recorded revenues of $5,015 million in 2024, which accounted for 30.1% of Leidos' total revenues. Commercial & International: This unit's products include IT modernization, software solutions, mission support and logistics, Command, Control, Computers, Communications, Intelligence, Surveillance and Reconnaissance (C4ISR) technologies and services, cloud services, power grid engineering, energy modernization and security products and services. Revenues from this division totaled $2,252 million, representing 13.5% of Leidos' total revenues. Defense Systems: This unit develops and produces advanced space, aerial, surface, and sub-surface manned and unmanned defense systems. Revenues from this division totaled $2,030 million in 2024, representing 12.2% of Leidos' total revenues. Anyone can invest, but building a successful investment portfolio requires research, patience, and a little bit of risk. So, if you had invested in Leidos ten years ago, you're likely feeling pretty good about your investment today. According to our calculations, a $1000 investment made in June 2015 would be worth $3,751.33, or a 275.13% gain, as of June 27, 2025. Investors should keep in mind that this return excludes dividends but includes price appreciation. Compare this to the S&P 500's rally of 192.22% and gold's return of 172.55% over the same time frame. Analysts are anticipating more upside for LDOS. Leidos Holdings' defense solutions continue to witness increased orders from the Pentagon and other U.S. allies. These contracts enhanced the company's bookings, which, in turn, led to a solid backlog of $46.30 billion at the end of the first quarter of 2025. Leidos boasts a strong financial position, which enables it to reward its shareholders with lucrative share repurchases. Our model predicts solid revenue growth for Leidos during the 2025-2027 period. Its shares have outperformed the industry in the year-to-date period. However, the shortage of labor in the aerospace and defense industry poses a threat to Leidos. Persistent supply-chain constraints might continue to affect Leidos. The U.S. government's enhanced export controls imposed on certain products and sanctions on certain industry sectors in Russia may hurt Leidos. The stock has jumped 5.55% over the past four weeks. Additionally, no earnings estimate has gone lower in the past two months, compared to 6 higher, for fiscal 2025; the consensus estimate has moved up as well. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Leidos Holdings, Inc. (LDOS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Associated Press
6 days ago
- Business
- Associated Press
ABVC BioPharma Converts Strategic Note Into Equity in AiBtl BioPharma; Commits to Up to $20 Million in Total Investment
SILICON VALLEY, CA - June 24, 2025 ( NEWMEDIAWIRE ) - ABVC BioPharma, Inc. (NASDAQ: ABVC) ('Company'), a clinical-stage biopharmaceutical company developing therapeutic solutions in ophthalmology, CNS (central nervous systems), and oncology/hematology, announced today that it has converted its initial $100,000 convertible note into 10,000 shares of common stock of AiBtl BioPharma Inc. at a conversion price of $10 per share. The conversion price is supported by an independent third-party valuation report, which estimated the current fair value of AiBtl's equity. In addition, ABVC disclosed its intention to invest up to $20 million in AiBtl over time, further reinforcing its role as a lead strategic investor. ABVC expects that AiBtl will utilize the additional funds to fulfill its licensing obligations and collaborate with global pharma partners to accelerate Phase III development. ABVC will continue executing its capital-light strategy by investing in innovative partners through a combined licensing and equity model. AiBtl currently holds exclusive global development and commercialization rights to ABVC's two CNS drug candidates, ABV-1504 and ABV-1505, under a previously announced licensing agreement. The agreement includes equity, milestone payments and royalties, with each of ABVC and its subsidiary BioLite entitled to receive up to 23 million shares of AiBtl common stock (totaling 46 million shares), up to $7 million in cash milestone payments, and future sales-based royalties, if achieved. 'As both the licensing partner and anchor investor, ABVC is committed to AiBtl's success,' said Dr. Uttam Patil, ABVC Chief Executive Officer. 'This investment strengthens AiBtl's ability to advance its pipeline, while also positioning ABVC to benefit from future milestone and royalty revenues.' About AiBtl BioPharma Inc. AiBtl BioPharma Inc. is a Delaware-based biopharmaceutical company focused on the development of botanical-based therapeutic candidates for central nervous system (CNS) disorders, including major depressive disorder (MDD) and attention deficit hyperactivity disorder (ADHD). Leveraging a combination of traditional botanical knowledge and modern clinical research, AiBtl seeks to advance drug candidates derived from Polygala tenuifolia, a traditional medicinal herb. AiBtl operates with a strategic focus on Asia-Pacific markets and is exploring collaborative opportunities with global pharmaceutical partners to support late-stage development and commercialization. ABVC BioPharma currently holds a majority ownership stake in AiBtl. About ABVC BioPharma & Its Industry ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus(R)) under development. For its drug products, the Company utilizes in-licensed technology from its network of world-renowned research institutions to conduct proof-of-concept trials through Phase II of clinical development. The Company's network of research institutions includes Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus(R), the Company intends to conduct pivotal clinical trials (Phase III) through global partnerships. Forward-Looking Statements This press release contains 'forward-looking statements.' Such statements may be preceded by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential,' or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC's website at The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Contact: Uttam Patil Email: [email protected] View the original release on
Hindustan Times
22-06-2025
- Business
- Hindustan Times
Did Barron Trump really make millions from family's cryptocurrency ventures? Here's the truth
Barron Trump, the 47th President's youngest son, may have made millions of dollars from the sale of cryptocurrency tokens connected to the family's successful foray into the digital token market, according to a new report. Barron Trump is listed as a "co-founder" of World Liberty Financial(AFP) According to Forbes, Barron, a 19-year-old student at New York University, could have received a handsome $40 million, or $25 million after taxes, through the sale of digital assets by World Liberty Financial. It is a firm owned by the Trump family that was established nine months ago after the First son convinced his father and elder brothers of the advantages of cryptocurrency. Following its launch, Trump stated in an interview last year that 'Barron knows so much about this (cryptocurrency).' 'Barron's a young guy, but he knows it — he talks about his wallet. He's got four wallets or something, and I'm saying, 'What is a wallet?'' What is World Liberty Financial? World Liberty Financial (WLF), a decentralized finance network that began operations in late 2024, is promoting its own coin $WLFI. The platform touts President Trump as its 'Chief Crypto Advocate,' and the Trump family owns 60% of the business and is eligible to receive 75% of token sales proceeds. World Liberty, which has helped Trump family to see surge in their finances, declared that it had sold $550 million worth of tokens in March. Last week, President Trump announced in an Office of Government Ethics report that he had earned $57 million from the sale of tokens. Additionally, it stated that the real estate tycoon owned 75% of his umbrella business, DT Marks Defi LLC, with the remaining 25% being owned by unidentified 'third parties.' Also Read: US warns its residents amid evacuation from Israel as Americans narrate harrowing ordeal; 'If given an option…' What is Barron Trump's position in the company? In addition to the Trump, Barron is identified as a "co-founder" of World Liberty Financial, along with the president's two other sons Donald Trump Jr. and Eric Trump. Barron reportedly possessed a 7.5% share in the Delaware-based umbrella company, according to Forbes, which offered no concrete proof for its assertions of his enormous digital profit. According to Forbes, the share would be identical to what the NYU freshman owns in the hotel owned by the Trump Organization in Washington, DC. SEC filing did not mention Barron Trump's name However, the company's only SEC filing dated October 30 of last year did not include Barron's name. Middle East diplomat Steve Witkoff and his son Zachary are mentioned as corporate partners in the enterprise. According to a Bloomberg report, Trump's net wealth has quadrupled since the beginning of his 2024 campaign and it is estimated to be above $5.4 billion.
