Central Bancompany announced late last week it targets a valuation up to $5.72 billion in its U.S. initial public offering. The Jefferson City, Missouri-based lender plans to raise as much as $426.7 million by offering 17.8 million shares priced between $21 and $24 each. This matters because you rarely see U.S. banks go public anymore.
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Despite the narrative of democratized investing being pushed by mobile trading apps, the “Gamestop Frenzy”, and the market share of retail investors growing from 10% in 2011 to 22+% 2022… the financial whales still gatekeep the best features of Wall Street for themselves. Private markets have locked up the best opportunities and thrown away the key. Inequity among investors has become increasingly apparent when evaluating the decrease in the value creation offered by U.S. IPO markets.
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A familiar name began trading on the public market recently. WeWork, the estranged commercial office space developer, began trading on October 21 and has jumped nearly 30%.
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Despite a nearly one-billion-dollar loss from the Archegos scandal, Morgan Stanley revealed record-breaking first-quarter profits for 2021, crushing analysts’ expectations.
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Kuaishou Technology, the owner of the Chinese social media and video sharing app of the same name, plans to file for an initial public offering on the Hong Kong Stock Exchange within the coming weeks, according to South China Morning Post (SCMP).
Read MoreThe good old days have rarely come back to feel so good. IPOs are hot in 2020, already eclipsing all YTD totals for the last 20 years. The only year that comes even close? 2000.
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