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Business Times
a day ago
- Business
- Business Times
NTT DC Reit's Singapore public offer 9.8 times oversubscribed
[SINGAPORE] The manager of NTT DC Reit (real estate investment trust) said the public tranche of its Singapore initial public offer (IPO) was about 9.8 times oversubscribed. Based on the 30 million units available to the public for subscription, there were 14,166 valid applications for an aggregate of 294.8 million units, the manager said in a bourse filing on Friday (Jul 11). It received application monies totalling around S$376.2 million. Overall, based on the 599.9 million units available for subscription under the offering, including 569.9 million units offered to international investors, it was around 4.6 times oversubscribed. The international placement was US$1 per unit, while the Singapore public offer was at S$1.276 per unit. Merrill Lynch (Singapore), which is a stabilising manager on behalf of the joint bookrunners of the IPO, has over-allotted an extra 51.5 million units. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up NTT DC Reit is aiming to raise gross proceeds of US$773 million from the Singapore IPO. The listing is the biggest of a Singapore Reit in more than a decade. Concurrent with but separate from the offering, a group of cornerstone investors will subscribe to over 172 million units in total, representing 16.8 per cent of all units. These include GIC, which is subscribing to more than 100 million units that make up 9.8 per cent of the total units in issue after the offering. Immediately after the listing, GIC will be a substantial unit holder – becoming the second-largest investor in NTT DC Reit after its sponsor. The Singapore public offer closed at 12pm on Jul 10. The units are scheduled to start trading at 2pm on Jul 14.
Yahoo
2 days ago
- Business
- Yahoo
Simply Good Foods's (NASDAQ:SMPL) Q2 Earnings Results: Revenue In Line With Expectations
Packaged food company Simply Good Foods (NASDAQ:SMPL) met Wall Street's revenue expectations in Q2 CY2025, with sales up 13.8% year on year to $381 million. Its non-GAAP profit of $0.51 per share was in line with analysts' consensus estimates. Is now the time to buy Simply Good Foods? Find out in our full research report. Revenue: $381 million vs analyst estimates of $380.5 million (13.8% year-on-year growth, in line) Adjusted EPS: $0.51 vs analyst estimates of $0.50 (in line) Adjusted EBITDA: $73.85 million vs analyst estimates of $72.17 million (19.4% margin, 2.3% beat) Operating Margin: 15.6%, down from 17.6% in the same quarter last year Free Cash Flow Margin: 17.9%, down from 21.5% in the same quarter last year Market Capitalization: $3.27 billion 'I am pleased with the continued momentum on our business, with net sales up 14% highlighted by approximately 4% organic net sales growth. Consumption increased double-digits again for both Quest and OWYN which, in aggregate, represent about 70% of net sales today, while Atkins remained under pressure, as expected," said Geoff Tanner, President and Chief Executive Officer of Simply Good Foods. Best known for its Atkins brand that was inspired by the popular diet of the same name, Simply Good Foods (NASDAQ:SMPL) is a packaged food company whose offerings help customers achieve their healthy eating or weight loss goals. A company's long-term sales performance is one signal of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. With $1.46 billion in revenue over the past 12 months, Simply Good Foods is a small consumer staples company, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and negotiating leverage with retailers. On the bright side, it can grow faster because it has a longer list of untapped store chains to sell into. As you can see below, Simply Good Foods grew its sales at a decent 8.1% compounded annual growth rate over the last three years as consumers bought more of its products. This quarter, Simply Good Foods's year-on-year revenue growth was 13.8%, and its $381 million of revenue was in line with Wall Street's estimates. Looking ahead, sell-side analysts expect revenue to grow 3.5% over the next 12 months, a deceleration versus the last three years. This projection is underwhelming and suggests its products will see some demand headwinds. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) stock benefiting from the rise of AI. Click here to access our free report one of our favorites growth stories. Although earnings are undoubtedly valuable for assessing company performance, we believe cash is king because you can't use accounting profits to pay the bills. Simply Good Foods has shown terrific cash profitability, driven by its lucrative business model that enables it to reinvest, return capital to investors, and stay ahead of the competition. The company's free cash flow margin was among the best in the consumer staples sector, averaging 14.6% over the last two years. Taking a step back, we can see that Simply Good Foods's margin dropped by 5.5 percentage points over the last year. If its declines continue, it could signal increasing investment needs and capital intensity. Simply Good Foods's free cash flow clocked in at $68.11 million in Q2, equivalent to a 17.9% margin. The company's cash profitability regressed as it was 3.6 percentage points lower than in the same quarter last year, but it's still above its two-year average. We wouldn't read too much into this quarter's decline because investment needs can be seasonal, leading to short-term swings. Long-term trends carry greater meaning. It was encouraging to see Simply Good Foods beat analysts' EBITDA expectations this quarter. Overall, this print had some key positives. The market seemed to be hoping for more, and the stock traded down 1.7% to $31.82 immediately following the results. Is Simply Good Foods an attractive investment opportunity right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. 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
India Today
05-07-2025
- Sport
- India Today
Virat Kohli in awe of Shubman Gill on record-breaking 2nd Test: Well played star boy
Virat Kohli heaped praise on Shubman Gill after the newly-appointed Indian captain lit up the Birmingham Test with two sparkling innings. Playing at Edgbaston, the 25-year-old Gill amassed a staggering 430 runs, helping India set a daunting target of 608 for Ben Stokes' hammered 269 runs in the first innings and followed it up with a commanding 161 in the second, putting India firmly in control of the who retired from Test cricket in May after his final appearance in the 2024–25 Border-Gavaskar Trophy, lauded Gill for 'rewriting history.' Kohli wrote, 'Well played star boy. Rewriting history. Onwards and upwards from here. You deserve all of this.' Courtesy: Virat Kohli Instagram Shubman Gill keeps breaking records On the back of Shubman Gill's twin centuries, India reached a historic milestone - scoring 1,000 runs in a single Test match for the first time in their cricketing history. They surpassed their previous best of 916, set against Australia at the Sydney Cricket Ground in also recorded the second-highest individual aggregate in a single Test match. His scores of 269 and 161 gave him a combined tally of 430 runs, just behind England's Graham Gooch, who amassed 456 runs (333 and 123) against India at Lord's in vs IND 2nd Test Day 4 UpdatesThe Indian captain further cemented his name in the record books by becoming only the second batter to score over 150 runs in both innings of a Test, joining Australia's Allan Border, who achieved the feat with scores of 150 and 153* against Pakistan in Lahore in is also the second player in the ongoing series to score centuries in both innings, following Rishabh Pant's twin tons during the first Test at Headingley, now stands as the eighth Indian to score centuries in both innings of a Test match and only the third Indian captain to do so, after Sunil Gavaskar and Virat Kohli. Additionally, Gill is just the ninth player in Test history to register a double century and a hundred in the same match.- EndsMust Watch
Yahoo
26-06-2025
- Business
- Yahoo
AST SpaceMobile Trims Debt: Financial Flexibility to Aid the Stock?
AST SpaceMobile, Inc. ASTS has retired $225 million aggregate principal amount of the 2032 convertible notes to reduce its debt burden and cash interest obligations. This represents approximately half of the 2032 convertible notes, with an aggregate principal amount of about $235 million remaining outstanding. In addition to strengthening the balance sheet, the strategic move has enabled the company to free up cash for research and development activities to fuel its growth engine. AST SpaceMobile has been adversely impacted by unfavorable macroeconomic conditions, including rising inflation, higher interest rates, capital market volatility, tariff imposition and geopolitical conflicts. These have led to continued fluctuations in satellite material prices, resulting in increased capital costs and pressure on the company's financial performance. In addition, AST SpaceMobile has to continuously customize its network offerings, enhance the cost-effectiveness of its products and services and boost its satellite data networks to remain ahead of the competition. By significantly reducing its outstanding debt, AST SpaceMobile has enhanced its financial flexibility to focus more on its core operations. Owing to high infrastructure set-up costs and research and development expenses for a highly sophisticated technology for developing satellites, AST SpaceMobile envisions significant expenditures in the upcoming months for building and launching the next crop of satellites in tune with its expansion plans to serve the full spectrum of U.S. subscribers. The company largely depends on carrier investments and institutional financing to fuel its expansion plans. In such a scenario, the enhanced financial flexibility is likely to prove beneficial for the company. Viasat, Inc. VSAT has a high debt burden. As of March 31, 2025, it had a net debt of $5.6 billion. Viasat has an extensive global operation. Around 29% of its total revenues came from international sales in fiscal 2024. This makes the company vulnerable to risks associated with geopolitical and macroeconomic uncertainties in the international markets. Moreover, changes in regulatory policies in its operating countries severely affect its financial results. Foreign exchange fluctuations also adversely impact Viasat's earnings and cash Holding Company, Inc. COMM had $7.24 billion in long-term debt as of March 31, 2025. CommScope is facing challenges due to lower spending from cable operators and wireless carriers owing to a challenging macroeconomic environment and high inflationary pressures. Volatility in prices of raw materials and components is hurting the company's profitability. The growing tension between the United States and China relating to trade restrictions imposed on the sale of communication equipment to Chinese firms has further led to a loss of business for CommScope. AST SpaceMobile has gained 336.4% over the past year compared with the industry's growth of 38.6% Image Source: Zacks Investment Research From a valuation standpoint, AST SpaceMobile trades at a forward price-to-sales ratio of 78.38, well above the industry. Image Source: Zacks Investment Research The Zacks Consensus Estimate for AST SpaceMobile's earnings for 2025 has moved south over the past 60 days. Image Source: Zacks Investment Research AST SpaceMobile currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 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 Viasat Inc. (VSAT) : Free Stock Analysis Report CommScope Holding Company, Inc. (COMM) : Free Stock Analysis Report AST SpaceMobile, Inc. (ASTS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Time of India
18-06-2025
- Business
- Time of India
MakeMyTrip Plans Major Share Repurchase to Reduce Chinese Ownership, ET TravelWorld
Advt MakeMyTrip raises US$200m to meet working capital and future growth requirements According to a company statement, MMT had to upsize the deal from the initially announced $175 million to $200 million taking into account the very high demand for the zero coupon bond See More Details Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETTravelWorld industry right on your smartphone! Download the ETTravelWorld App and get the Realtime updates and Save your favourite articles. Travel booking major MakeMyTrip has announced a fundraise of over USD 2.5 billion through the sale of shares and convertible bonds with the objective of significantly reducing China-based Group's stake in the company, according to filings with Gurugram-headquartered NASDAQ-listed firm plans to use the net proceeds from the offering, as well as from the Concurrent Notes Offering, to repurchase a portion of its Class B shares previously acquired by the move comes in the backdrop of calls for minimising business relations with companies and investors from countries like China and Turkey, which are seen as supporters of Pakistan, following last month's India-Pakistan military travel agency EaseMyTrip's founder Nishant Pitti had last month turned up the heat on MakeMyTrip over the alleged Chinese ownership of the latter, saying 5 out of its 10 board of directors have direct ties to successful execution of the share repurchase exercise, total voting power in the company is reduced from 45.34 per cent to 19.99 per cent, and its board nomination rights will be reduced from five directors to two, in accordance with the Terms of Issue, MakeMyTrip the NASDAQ filing, the company also informed that it is offering 14,000,000 ordinary shares, par value USD 0.0005 per share, in this offering."Concurrently with this offering, we are offering, USD 1.25 billion aggregate principal amount of convertible senior notes, plus up to USD 187.5 million aggregate principal amount of our convertible senior notes if the initial purchasers in the convertible notes offering exercise in full their option to purchase additional convertible senior notes, which we refer to as the Concurrent Notes Offering," it Class B shares have the same rights and preferences as the ordinary shares except as specifically set forth in the Terms of Issue governing the Class B shares, or the Terms of Issue."As of March 31, 2025, beneficially owned 100 per cent of our issued and outstanding Class B Shares and 15.05 per cent of our aggregate ordinary shares and Class B shares, together representing an aggregate of 45.34 per cent of the total voting power in our company," MakeMyTrip June 16, 2025, MakeMyTrip entered into a share repurchase agreement with pursuant to which the latter has agreed to sell, and the former has agreed to purchase, a portion of the Class B shares at a price per share equal to the public offering price of each ordinary share, after deducting underwriting discounts and commissions.
