News Bulletin: Snap prepares US$25bn IPO plan; News Corp sells stake in NZME

By AdNews | 7 October 2016

Snap prepares US$25bn IPO plan

Snap, the parent company of Snapchat, is working on an initial public offering that could value the company at US$25 billion or more, according to multiple reports. The company, which recently launched its first hardware product, is preparing the paperwork for an IPO with a view toward selling the shares as early as March. If it moves forward with its plans it could be the biggest company to go public on a US exchange since 2014.

News Corp sells stake in NZME

News Corporation has sold its 14.9% stake in New Zealand Media and Entertainment (NZME), according to the Australian Financial Review. The shares were offloaded at 64cents a share, an 8.9% discount to the last close, to a handful of Australian and Kiwi institutions. Citigroup and Forsyth Barr handed the $20 million block trade. An announcement is expected today.

 

Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au

Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.

comments powered by Disqus