The IPOX® Update 7/14/23

General Atlantic and Goldman Sachs Asset Management Make $1.7bn Bid for Kahoot! ASA

Leading investment firms General Atlantic and Goldman Sachs Asset Management have joined forces to propose a $1.7 billion buyout of the Norwegian ed-tech company, Kahoot! ASA. This development comes in light of Kahoot’s successful performance during the Covid-19 pandemic, which saw a surge in revenue due to widespread school closures. The consortium's bid has already garnered commitments from investors holding about 34% of Kahoot's shares. Notably, if the deal is successful, General Atlantic will significantly increase its stake in the digital learning platform, further consolidating its position as Kahoot's largest shareholder. Kahoot offers a variety of educational games and learning apps and is a member of the IPOX® 100 Europe Index (ETF: FPXE). (Source)

Syngenta in Early Talks with Middle Eastern Funds for $9bn Shanghai IPO

Syngenta, the Chinese-owned agribusiness company, is in early discussions with Middle Eastern sovereign funds, including the Abu Dhabi Investment Authority and the Saudi Public Investment Fund, for its upcoming $9 billion IPO in Shanghai. These initial talks signify the strengthening of Middle East-China political ties, facilitating the flow of capital into Asia's largest economy. The precise funds that will participate remain unknown at this stage. Despite being in its early stages, the significant potential investment in Syngenta's IPO exemplifies the company's strong standing in the agribusiness sector and the growing interest from international investors. However, no official comments have been made on the matter by Syngenta, the Abu Dhabi Investment Authority, or the Saudi Public Investment Fund. (Source)

Nissan Invests ¥100 billion in Renault's EV Venture Ampere

Nissan, the Japanese car manufacturing giant, has invested ¥100 billion into Renault's electric vehicle (EV) venture, Ampere. This investment is lower than analysts' previous predictions, which ranged between €750 million to €1 billion. The investment follows an announced delay in Ampere's IPO due to reduced demand for high-priced electric vehicles, with the public offering now anticipated in the first half of 2024. The continued alliance between Renault, Nissan, and Mitsubishi Motors includes shared investments and strategic cooperation. Nissan is expected to support Ampere by providing advanced driver assistance technology and sharing intellectual property. (Source)

Douglas Gearing Up for a Return to the Stock Market in 2024

German perfume retail giant, Douglas, is potentially returning to the stock market in 2024. The firm's main shareholder, private equity company CVC, is expected to exit in the second phase of investment. This move follows Douglas's withdrawal from the stock market in 2013, with a majority stake sold to CVC in 2017. The potential return to the public markets was hinted at by CEO Sander van der Laan, who further unveiled Douglas's ambitious target of achieving a revenue of five billion euros by 2026. The firm has also revealed positive growth trends for the first half of the current business year, strengthening prospects for its upcoming IPO. (Source)

Kim Kardashian's Shapewear Brand Skims Reportedly Plans IPO

Skims, the shapewear brand founded by reality TV star and entrepreneur Kim Kardashian, is reportedly planning an initial public offering (IPO). The pre-IPO funding round could value the company at $4 billion. Skims generated $500 million in 2022, with the previous funding round raising $240 million. Kim Kardashian's savvy use of social media and her strong personal brand have been key to Skims' popularity and its burgeoning success in the shapewear industry. In the pipeline are plans to open flagship stores in Los Angeles and New York later in the year. The forthcoming funding will focus on innovative solutions and customer engagement. (Source)