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...The increasing prevalence of discounts on secondary markets stands in contrast to previous years when low interest rates boosted the values of private equity-owned companies, giving sellers more bargaining...
...The lawsuit, which spans May 2012 to March 2018, revives a claim the cab drivers first attempted to bring against Uber in 2018 alleging the company misled TfL about how its operating system worked....
...Across the European sector, most airlines are trading at a discount to historic multiples. Flag carriers are particularly unappreciated, points out Bernstein analyst Alex Irving....
...Remarkably, that wasn’t even a banner year: Reed notched up $193,449 in merchandise discounts in 2022, and $46,778 in 2021 — the year the company IPO’d....
...Shares in London-listed fintech group CAB Payments fell 54 per cent on Tuesday after it cut its projected revenues for 2023 by 17 per cent....
...The company made a similar effort to win over London black-cab drivers in 2016 but the option to hail “hackney carriages” was discontinued in 2017 after the number of active drivers plateaued in the low...
...But CAB said it had “not been contacted, at any level, by the Central Bank of Nigeria regarding any investigation.” The company denied any wrongdoing....
...trust companies.”...
...“London Stock Exchange welcomes CAB Payments,” posted the LSE on July 6. It was “a very special moment for the company and the fintech sector,” according to FINTECH Circle....
...One banker said the collapse in CAB’s shares was “an absolute disaster” for a London market trying to sharpen its appeal to companies and wrestle more IPOs from New York....
...The goal is to persuade the stock market to revalue their shares upwards and try to close the discount with their US peers. “These stocks are obviously not growth stocks. This is a cash sector....
...Under a challenge filed in the UK this month, Uber is facing a multimillion-pound lawsuit from more than 10,000 black cab drivers in London....
...Portfolios of private assets are being dumped by so-called defined benefit pension schemes — funds offering members a set amount in retirement — as they try to prepare themselves for a buyout by an insurance company...
...Some UK companies have pointed to higher valuations when choosing to list in New York rather than London....
...The good news, for Galderma, is that the company comes with an interesting pedigree....
...Market hopefuls must offer larger-than-usual discounts to attract interest....
...These include Greencoat UK Wind, which traded at an average discount to NAV of 10.5 per cent last year. An average discount of 10 per cent over 12 months triggers a vote....
...As well as foreign takeovers and take-private deals, more companies contemplated switching their listings stateside. The common factor was the UK’s seemingly immovable valuation discount....
...The ordeal has already cost the company $800mn in lost revenue and passenger compensation. The regulatory action related to violations of consumer protections laws....
...CAB Payments raised £335mn ahead of its London listing on Thursday, with the admission of the cross-border payments company marking a bright spot for the city’s stock market amid a dearth of initial public...
...If 3i is excluded, the sector discount has shrunk by just 3 percentage points since October to 16 per cent....
...investment fund Temasek, which valued the company at $5.4bn....
...But the recent turnaround still owes most to a steep and persistent valuation discount....
...Thanks to its South Africa exposure and conglomerate structure, Anglo has traded at a mid-teens discount to its peers on enterprise value to trailing ebitda over the past decade....
...Bankers said investors had asked for too steep a discount, while investors claimed the company’s valuation expectations were far too high from the start....
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