Latest news with #IPO
Yahoo
an hour ago
- Business
- Yahoo
Jim Cramer on Chime: 'I Want to Buy It'
Chime Financial, Inc. (NASDAQ:CHYM) is one of the 14 stocks Jim Cramer recently shared insights on. Highlighting its recent IPO, which was originally priced at $27 but opened at $43, a caller inquired after Cramer's thoughts on the company. He replied: 'Okay… Look, I think Chime was part of this, there… [were] a couple of days where no matter what anybody did, the things were going up, and then this one happened and it cost too much and people got nervous about it. $10 billion, Chime, I want to buy it. I think it's going to be good. I think every analyst is going to come out and recommend it. I think you get a good price here, buy the next… at $25.' A portfolio manager analyzing a stock chart, seeking to find the right investments. Chime Financial (NASDAQ:CHYM) is a fintech company that provides a mobile banking app that helps users manage spending, savings, credit building, and access to funds, while emphasizing security and community support. While we acknowledge the potential of CHYM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Yahoo
3 hours ago
- Business
- Yahoo
Air Astana: How can Kazakhstan's flag carrier boost its dwindling share price?
As Central Asia's only airline listed on three stock exchanges, Kazakhstan's flagship carrier Air Astana has led the region's aviation sector for over 20 years. Since its IPO in February 2024, the airline's share price has dipped. Ahead of their half year results, Euronews sat down with Air Astana's CEO, Peter Foster, to discuss his plans to raise share prices and expand Kazakhstan's flag carrier's global presence. Q: How do you assess investor sentiment following Air Astana's IPO, and what key strategies do you plan to implement to maintain stock and shareholder value? A: The stock price has been a bit disappointing since the IPO in February of last year — the stock price has declined. The main point to make is that the company, in fact, has performed extremely well and continues to do so. So of course, our job is to manage the company to the best of our ability and of course to maximise shareholder value. We have recently announced a very substantial dividend. In fact, the largest dividend that we've ever paid, and one of the largest dividends in the airline industry today. And that's a reflection of the strong performance, of the strong balance sheet, the strong cash balance. We believe that if we continue to manage the company well and if it performs well, the stock price will follow eventually. The key really is to continue managing the airline in the way that we have in all [my] 20 years here: To keep focussed on cost, to keep cost competitive so that the airline remains competitive in an increasingly challenging global marketplace and to maximise service levels to ensure top class safety standards and by doing so, we can leverage the quality of the product to ensure the airline continues being profitable. Related The Big Question: How will AI transform the travel industry? Airbus pledges higher dividends as it confirms financial guidance Q: You have outlined major strategic opportunities for international growth — in the Gulf, Western Europe, China, Korea, Japan and India. What would these partnerships entail? A: Kazakhstan is a country of 20 million people and yet Air Astana today is at 62 aircraft and of course we intend to grow that to 84 aircraft by the end of 2028. When you look at the size of Air Astana and growth profile and the overall size of the Kazakhstan market, you see that of course we are proud to serve the Kazakhstan market and Kazakhstan's travellers, but it's not sufficient to enable the airline to grow as we are doing into a significant international airline player. Therefore, we absolutely need to leverage our position in close proximity to some of the world's largest markets to ensure that we are also getting a significant portion of our customers from those large markets which are much bigger than Kazakhstan. The best way to leverage that geographical position is to work with partner airlines from those countries. We're presently in discussions with China Southern in China, we are having discussions with carriers in India, we've recently signed a code share with Japan Airlines for the Japanese market, we have an existing commercial relationship with Lufthansa for western Europe, with Turkish Airlines for Turkey. So, this is the way that an airline of our aspiration with a home market that is relatively small can leverage the quality of the airline and the geography of location of the airline with partners to expand beyond its own borders. Q: With the current shortage of fuel-efficient aircraft, how is Air Astana adapting its operational strategies? A: The manufacturers and the engine manufacturers introduced new engine technology from NASA ten years ago. Without going into technical detail, it was technology that was primarily driven by the need to provide higher bypass engines, which are more fuel-efficient. You get more power from less fuel burned, which saves the airline money and of course, it's more environmentally sustainable. In fact, on an average flight, it takes to London [from Astana], a 7.5-hour flight, we can save up to 20-25% more fuel than would have been burning in the past times. So that's very good. The problem with that is that the engine technology is relatively new, complex and it has been subject to reliability issues which are ongoing and so we're not getting quite the efficiency or the sustainability readings that we had hoped for. But those problems will resolve themselves in time and therefore we can expect to get the full benefits both in terms of economics and the environment as we go forward. Related 'Geologically blessed': How Kazakhstan can help Europe's green transition Volvo Cars CEO: dual tech for China and the West is new trade reality Q: What green technologies or sustainability initiatives is Air Astana adopting to contribute to Kazakhstan's net-zero goals? A: We were one of the first movers to bring in the Airbus neo long-range aircraft. In fact, we were the first airline to sign for those aircraft at Paris Air Show ten years ago. They are significantly better, more optimal than the previous engine technology that was deployed on aircraft on those long routes and we will continue to introduce those aircraft in order to meet the sustainability targets. The manufacturers are working on enhanced technology in terms of aerodynamics, in terms of wing design, in terms of engine design, as we go forward. But inevitably the significant portion of our realisation of net zero will come from carbon credits and the CORSIA scheme (Carbon Offsetting and Reduction Scheme for International Aviation), which has been introduced and endorsed by the United Nations and all member states. Sign in to access your portfolio
Yahoo
4 hours ago
- Business
- Yahoo
Air Astana: How can Kazakhstan's flag carrier boost its dwindling share price?
As Central Asia's only airline listed on three stock exchanges, Kazakhstan's flagship carrier Air Astana has led the region's aviation sector for over 20 years. Since its IPO in February 2024, the airline's share price has dipped. Ahead of their half year results, Euronews sat down with Air Astana's CEO, Peter Foster, to discuss his plans to raise share prices and expand Kazakhstan's flag carrier's global presence. Q: How do you assess investor sentiment following Air Astana's IPO, and what key strategies do you plan to implement to maintain stock and shareholder value? A: The stock price has been a bit disappointing since the IPO in February of last year — the stock price has declined. The main point to make is that the company, in fact, has performed extremely well and continues to do so. So of course, our job is to manage the company to the best of our ability and of course to maximise shareholder value. We have recently announced a very substantial dividend. In fact, the largest dividend that we've ever paid, and one of the largest dividends in the airline industry today. And that's a reflection of the strong performance, of the strong balance sheet, the strong cash balance. We believe that if we continue to manage the company well and if it performs well, the stock price will follow eventually. The key really is to continue managing the airline in the way that we have in all [my] 20 years here: To keep focussed on cost, to keep cost competitive so that the airline remains competitive in an increasingly challenging global marketplace and to maximise service levels to ensure top class safety standards and by doing so, we can leverage the quality of the product to ensure the airline continues being profitable. Related The Big Question: How will AI transform the travel industry? Airbus pledges higher dividends as it confirms financial guidance Q: You have outlined major strategic opportunities for international growth — in the Gulf, Western Europe, China, Korea, Japan and India. What would these partnerships entail? A: Kazakhstan is a country of 20 million people and yet Air Astana today is at 62 aircraft and of course we intend to grow that to 84 aircraft by the end of 2028. When you look at the size of Air Astana and growth profile and the overall size of the Kazakhstan market, you see that of course we are proud to serve the Kazakhstan market and Kazakhstan's travellers, but it's not sufficient to enable the airline to grow as we are doing into a significant international airline player. Therefore, we absolutely need to leverage our position in close proximity to some of the world's largest markets to ensure that we are also getting a significant portion of our customers from those large markets which are much bigger than Kazakhstan. The best way to leverage that geographical position is to work with partner airlines from those countries. We're presently in discussions with China Southern in China, we are having discussions with carriers in India, we've recently signed a code share with Japan Airlines for the Japanese market, we have an existing commercial relationship with Lufthansa for western Europe, with Turkish Airlines for Turkey. So, this is the way that an airline of our aspiration with a home market that is relatively small can leverage the quality of the airline and the geography of location of the airline with partners to expand beyond its own borders. Q: With the current shortage of fuel-efficient aircraft, how is Air Astana adapting its operational strategies? A: The manufacturers and the engine manufacturers introduced new engine technology from NASA ten years ago. Without going into technical detail, it was technology that was primarily driven by the need to provide higher bypass engines, which are more fuel-efficient. You get more power from less fuel burned, which saves the airline money and of course, it's more environmentally sustainable. In fact, on an average flight, it takes to London [from Astana], a 7.5-hour flight, we can save up to 20-25% more fuel than would have been burning in the past times. So that's very good. The problem with that is that the engine technology is relatively new, complex and it has been subject to reliability issues which are ongoing and so we're not getting quite the efficiency or the sustainability readings that we had hoped for. But those problems will resolve themselves in time and therefore we can expect to get the full benefits both in terms of economics and the environment as we go forward. Related 'Geologically blessed': How Kazakhstan can help Europe's green transition Volvo Cars CEO: dual tech for China and the West is new trade reality Q: What green technologies or sustainability initiatives is Air Astana adopting to contribute to Kazakhstan's net-zero goals? A: We were one of the first movers to bring in the Airbus neo long-range aircraft. In fact, we were the first airline to sign for those aircraft at Paris Air Show ten years ago. They are significantly better, more optimal than the previous engine technology that was deployed on aircraft on those long routes and we will continue to introduce those aircraft in order to meet the sustainability targets. The manufacturers are working on enhanced technology in terms of aerodynamics, in terms of wing design, in terms of engine design, as we go forward. But inevitably the significant portion of our realisation of net zero will come from carbon credits and the CORSIA scheme (Carbon Offsetting and Reduction Scheme for International Aviation), which has been introduced and endorsed by the United Nations and all member states. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
4 hours ago
- Business
- Time of India
NTT has lodged preliminary prospectus to list REIT on Singapore Exchange
SINGAPORE : Japan 's Nippon Telegraph and Telephone Corp (NTT) has lodged a preliminary initial public offering prospectus for its data centre real estate investment trust NTT DC REIT on Singapore's stock exchange, according to information published on the Monetary Authority of Singapore's website on Friday. Reuters reported on Wednesday that the company was looking to lodge the prospectus with the Singapore regulator as early as this week and list on the Singapore Exchange as early as July, citing two sources with knowledge of the matter. The prospectus did not disclose the IPO amount but the two sources had said in January it could be worth up to $1 billion in what would be the largest in Singapore in several years. The prospectus also did not say when the IPO would be launched. In an emailed response to Reuters on Friday, NTT said the IPO amount and timetable will be available in the final version of the prospectus on its registration. The last listing of similar size was a $977 million IPO for Digital Core REIT in 2021, LSEG data showed. The IPO portfolio comprises six data centre assets located in the United States, Austria and Singapore, with a total appraised value of about $1.6 billion, according to the preliminary prospectus. The sponsor of NTT DC REIT is NTT Ltd, which is part of Japanese telecommunication giant NTT. Cornerstone investors include Singapore sovereign wealth fund GIC and private investment and asset management firms such as AM Squared Ltd and Viridian Asset Management Ltd, the prospectus showed. Cornerstone investors are large institutional investors that subscribe to an IPO offering before it is open to the public. There is growing interest from companies seeking to list on the Singapore Exchange, after the city-state announced measures in February to strengthen its equities market, including a 20% tax rebate for primary listings. Hong Kong-listed China Medical System said on Tuesday it had applied for a secondary listing of its shares on the Singapore Exchange. IPO proceeds raised on the Singapore Exchange surged more than five-fold to $331.6 million in the first half of this year, from $59.3 million the same period a year ago, LSEG data showed. Bank of America and UBS are the joint issue managers, global coordinators, bookrunners and underwriters of the IPO, the prospectus showed. Mizuho is the joint global coordinator, bookrunner and underwriter, while Citigroup and DBS are joint bookrunners and underwriters.
Forbes
7 hours ago
- Business
- Forbes
Chairman Of Chinese Gold Jeweler Zhou Liu Fu Becomes A Billionaire After Stock Surge
Getty Li Weizhu, the chairman of Zhou Liu Fu Jewellery, joined the billionaire ranks after shares of his Shenzhen-based gold jewelry retailer soared 67% over their first two trading days on the Hong Kong stock exchange on Friday. Li, 47, is Zhou Liu Fu's largest shareholder with a 57% stake through wholly-owned investment vehicles. Based on his stake, Forbes estimates his net worth to be $1.2 billion. Li's older brother Weipeng, who is Zhou Liu Fu's cofounder and vice chairman, has a fortune of $522 million based on his 24% ownership, Forbes estimates. Li entered the three-comma club a day after Zhou Liu Fu made its debut on the Hong Kong bourse on Thursday. The company raised HK$1.3 billion ($164.6 million) in its initial public offering. Zhou Liu Fu didn't respond to a comment request. Zhou Liu Fu is widely considered a clone of Chow Tai Fook Jewellery, controlled by Hong Kong billionaire Henry Cheng, and Luk Fook Holdings, another Hong Kong-listed jeweler, due to its name's similarity to those of its more established rivals. The 'Zhou' in Zhou Liu Fu is the Mandarin spelling of 'Chow' in Chow Tai Fook, while 'Liu Fu' is the Mandarin equivalent of 'Luk Fook' in Luk Fook Holdings. Zhou Liu Fu said in its prospectus that it was named as a co-defendant in seven legal disputes. Among them was a 2023 case in which Zhou Liu Fu and one of its franchisees were sued for product trademark infringement; the company has denied those allegations. The case was settled after Zhou Liu Fu agreed to stop selling the disputed products and paid off all related fees to the plaintiff. Meanwhile, the company has in turn also been suing smaller rivals for trademark infringement. Zhou Liu Fu said in its prospectus that it was the plaintiff in 25 ongoing legal disputes, many of which involved trademark infringement claims. Zhou Liu Fu applied to list on the Shenzhen stock exchange in 2019, but got turned down by regulators, who cited concerns over the company's trademark ownership disputes and its heavy reliance on revenue from franchised stores. The regulators eventually greenlighted Zhou Liu Fu's Shenzhen IPO application in 2022, but the company later opted to switch to Hong Kong amid a revival in the city's IPO market. Formally known as Zhou Tian Fu, the company was established by Weipeng and a friend in 2004, when China further opened up its jewelry industry by launching a massive trading center in Shenzhen's Shuibei area and turning it into one of the world's biggest retail markets for gold. Weizhu, who had a brief stint at a bank after graduating from the Guangdong University of Foreign Studies with a finance degree, joined Zhou Liu Fu simultaneously as a general manager. In 2004, he acquired all of the stake from his brother's friend. Like many other Chinese gold jewelers, Zhou Liu Fu over the years expanded aggressively through the franchise model. Focusing on the mass market segment of the jewelry industry, the company is China's fifth largest jewelry chain by store count in 2024, citing consultant Frost & Sullivan. It boasts 4,125 stores in the country, nearly 98% of them are franchisees and more than half are located in third-tier cities or below. Zhou Liu Fu also has four overseas shops in Cambodia, Laos and Thailand. Despite China's consumption slowdown, Zhou Liu Fu saw its 2024 net profit rise 7% to 706.3 million yuan ($98.5 million) on revenue that climbed 11% to 5.7 billion yuan. The company attributed the growth to the expanded franchise network. Zhou Liu Fu's IPO follows the Hong Kong debut of younger rival Laopu Gold last June. Shares of Laopu Gold have since then skyrocketed more than 1,100%, propelling its founder Xu Gaoming into the ranks of the world's richest. The Beijing-based company defied China's broader retail downturn through its premium position. Its intricately crafted gold jewelry priced independently of daily gold market fluctuations has become a craze with Chinese consumers seeking a safe-heaven asset. In response, Zhou Liu Fu has in recent years sought to elevate its brand image, opening stores at high-end malls and launching products that incorporate traditional Chinese gold craftsmanship techniques. MORE FORM FORBES Forbes Ex-China Fisheries Clerk Becomes Billionaire With 'Hermès Of Jewelry' By Yue Wang Forbes Ex-Baidu AI Scientist Becomes A Billionaire After Shares Of His Self-Driving Tech Startup Jump 16% By Zinnia Lee Forbes Billionaire Brothers' Chinese Bubble Tea Giant Mixue Surges In Hong Kong Debut By Zinnia Lee
