Michael Bloomberg Not to Sell His Company
Michael Bloomberg, founder and the largest share holder of Bloomberg LP, denied that he is about to sell his company, which is estimated to be worth as much as $12 billion.
It was said that potential buyers include Blackstone Group, the manager of the largest buyout fund, and Kohlberg Kravis Roberts & Company. McGraw-Hill and Thomson were also said to be interested.
Forbes magazine estimated that Bloomberg had $4.1 billion in revenue last year. The company has about 9,000 workers world wide.
In the over $10-billion financial market, Bloomberg seizes about 31 percent share and its rival, Reuters, takes about 23 percent, estimated an editor of the trade publication Inside Market Data Reference.
Read the news story from NYT.
Hong Kong is Set to be the Largest IPO Market
Fueled by the IPO frenzy in mainland China, Hong Kong is set to surpass London and New York to become the biggest market for initial public offerings, said the New York Times. The bulk of new listed companies in Hong Kong are from mainland, including the mammoth ICBC, which is to set a new world record on IPO value.
Read the NYT:
In a reflection of China’s growing prominence in international finance, Hong Kong is set for a banner year in global markets: More money will be raised by companies selling shares to the public here than on the biggest exchanges in New York and London.
And on Friday, pricing will be set for the world’s largest offering ever, that of China’s biggest bank, Industrial and Commercial Bank of China.
This week, long lines of individual investors showed up at downtown stalls to grab prospectuses for the bank’s initial public offering, while institutional investors have swamped the underwriters with orders. (continue)
Good News from Silicon Valley
EBay‘s third-quarter profit grew by 10 percent, helped in part by a lower tax rate and strong sales at its online payments unit.
Apple Computer‘s fourth-quarter profit increased 27 percent rise in its fiscal fourth-quarter profit.
The biggest winner is Google, whose third-quarter profits nearly doubled.
Random Blog 