The "21 CFR Part 11 Compliance for SaaS/Cloud Applications" conference has been added to ResearchAndMarkets.com's offering.
Quidel Corporation (NASDAQ: QDEL) ("Quidel"), a leading provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced today that it has received an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA), allowing the company to market its new QuickVue® At-Home COVID-19 Test for the qualitative detection of the nucleocapsid protein antigen from SARS-CoV-2. This test is authorized for prescription home use with self-collected (unobserved) anterior nares (NS) swab specimens directly from individuals aged 14 years and older who are suspected of COVID-19 by their healthcare provider within the first six days of the onset of symptoms. This test is also authorized for prescription home use with adult-collected anterior NS samples directly from individuals aged 8 years or older who are suspected of COVID-19 by their healthcare provider within the first six days of the onset of symptoms.
On March 5, Women InNovation, a free global 1-day virtual conference launches with over 36 speakers – inspiring women and men – policy makers, investors, entrepreneurs, and organizations – around the world. Ahead of the United Nations International Woman's Day, the conference will explore, connect, and share ideas on closing the gender gap, supporting women entrepreneurs, encouraging investors to support equal access to funding, and building thriving ecosystems built on value creation and innovation. Supported by a collaboration of the Nordic countries, the aim of Women InNovation is to provide a global platform to elevate the conversation and identify solutions to tackle the gender gap in entrepreneurship. Additional information on panels and speakers can be accessed on the website: https://www.women-innovation.com/.
Keystone Insurers Group (Keystone) expands its Kansas footprint by partnering with C&W Insurance of Manhattan.
On 1 March 2021 AS Tallink Grupp filed an action against AS Tallinna Sadam with Harju County Court with a claim of EUR 15.4 million. AS Tallink Grupp demands compensation from AS Tallinna Sadam for unjust enrichment or alternatively for damage caused by abusing the dominant position AS Tallinna Sadam has on the market for provision of port services in Old City Harbour (in Estonian Vanasadam). According to the Estonian Competition Act an undertaking having a dominant position on a goods market is prohibited from directly or indirectly establishing or applying unfair purchase or selling prices or other unfair trading conditions. The filed claim includes fees paid by AS Tallink Grupp in 2017, 2018 and 2019. It is the view of AS Tallink Grupp that in relation to port services offered to passenger vessels in Tallinn Old City Harbour, AS Tallinna Sadam has imposed excessively high prices and thereby abused its dominant market position on the market for offering port services in the Old City Harbour. Joonas JoostFinancial Director AS Tallink GruppSadama 510111 Tallinn, EstoniaE-mail joonas.joost@tallink.ee
Vestiaire Collective announces a new €178m (US$ 216m) financing round backed by Kering and Tiger Global Management to accelerate its growth in the second-hand market and drive change for a more sustainable fashion industry. Press Release Vestiaire Collective Kering EN 2021 03 01 Paris, March 1st, 2021 - The leading global platform for desirable second-hand fashion today announces the completion of a new €178 million financing round, backed by global French luxury group Kering (KER.PA) and US investment firm Tiger Global Management. Existing shareholders including Vestiaire Collective’s CEO, Max Bittner, Bpifrance (Large Venture), Condé Nast, the Eurazeo Group (Eurazeo Growth and Idinvest Venture) (RF.PA), certain funds managed by Fidelity International, Korelya Capital (backed by NAVER) (KRX: 035420), Luxury Tech Fund (LTF & Cuir Invest) and Vitruvian Partners also reinvest. Following a strong year that saw the platform’s transaction volume grow over 100% year-on-year, this financing round grants Vestiaire Collective unicorn status and ideally positions it for its next cycle of accelerated growth. The pre-owned fashion sector has experienced rapid growth over the last three years with a further acceleration during the pandemic. This has been predominantly driven by younger consumers' increased focus on sustainability and a growing trend for social shopping and online communities. The amount of secondhand pieces in people’s closets is predicted to grow from 21% in 2021 to 27% in 2023 with the value of the secondhand sector forecasted to be worth over $60 billion by 2025. Maximilian Bittner, Vestiaire Collective’s CEO commented: “This latest round of investment confirms the incredible trajectory of Vestiaire Collective, founded during the 2008 crisis, the model has clearly demonstrated its ability to continue to thrive during challenging conditions. The resale sector as a whole is experiencing rapid growth, especially amongst Millennial and Gen Z consumers, which will come to shape the retail landscape of the future. We are incredibly excited to welcome Kering and Tiger Global Management, both of which will be instrumental in our mission to build a more sustainable fashion industry and further grow our incredible global community”. By investing in Vestiaire Collective (c. 5% stake) and by being represented at the Vestiaire Collective Board of Directors, global Luxury Group Kering illustrates its pioneering strategy, supporting innovative business models, embracing new market trends and exploring new services to fashion and luxury customers. François-Henri Pinault, Chairman and CEO of Kering, said: “Pre-owned luxury is now a real and deeply rooted trend, especially among younger customers. Rather than ignoring it, our wish is to seize this opportunity to enhance the value we offer our customers and influence the future of our industry towards more innovative and more sustainable practices. This fits naturally with our entrepreneurial spirit, our pioneering sustainability strategy, and our modern vision of Luxury.” Grégory Boutté, Kering’s Chief Client and Digital Officer, added: “Our innovation strategy aims at investing in brands and technologies for the next generation of consumers, focusing on disruptive business models that allow us to better serve our clients and improve our performance. The investment in Vestiaire Collective makes full sense from both perspectives.” Kering and Vestiaire Collective share a joint vision in their commitment to driving innovation to build a more sustainable fashion industry for the future. Tiger Global Management, a U.S.-based technology investor, brings on board deep experience supporting high-growth disruptive companies to scale, such as Facebook and Spotify. In addition, the firm’s rich understanding of the U.S. market will support Vestiaire Collective’s ambitions to expand in the region. Griffin Schroeder, Partner, Tiger Global, commented: “We are excited to support Vestiaire Collective’s continued global expansion plans, which focus on seizing the momentum of already spectacular growth in the United States and Asia Pacific. As of January 2021, local sellers in those regions had increased their items sold by more than 250% year-over-year.” Since its inception in 2009, Vestiaire Collective’s mission has been to extend the lifecycle of products in the fashion industry, supporting a disruptive move towards a circular economy by empowering a community of ‘fashion activists’ to drive profound change. With its combined pillars of global community, strong fashion and sustainability DNA and the high level of trust it has built on the platform, Vestiaire Collective is uniquely positioned to capture an increasing share of the global resale market, demonstrated by its 90% year-on-year membership growth achieved in 2020. Vestiaire Collective will use this financing round to scale up its technology and data innovation roadmap, accelerating its circularity vision along with initiating strategic change in the fashion industry. This will be supported by a sustainability roadmap focused on 4 main innovative pillars: Triggering change in luxury fashion: the “Brand Approved” serviceEmpowering and growing its community of ‘fashion activists’: the ‘Fashion Activist’ badge and ‘Follow the Leaf’ programReducing environmental footprint: carbon neutral by 2026Being an exemplary company: B Corp certified business Triggering change in luxury fashion: the “Brand Approved” service The apparel industry’s current way of working needs to evolve; the global fashion industry produced around 2.1 billion tonnes of GHG emissions in 2018. Vestiaire Collective offers a key solution to this challenge, facilitating an increase in reuse and reduction of waste. Vestiaire Collective believes that emphasizing the importance of durability and extending the lifespan of pieces will help combat the negative environmental impact of over-consumption. In answer to this challenge, Vestiaire Collective has launched a ‘Brand Approved’ service, offering an innovative Buy-back circular solution for brands, supporting the decoupling of economic profit from the use of natural resources. The new program recently launched in collaboration with Kering House Alexander McQueen, empowering the brand to integrate circularity into its business model. Empowering and growing its community of ‘fashion activists’: The ‘Fashion Activist’ badge and ‘Follow the Leaf’ program The broad global community of ‘fashion activists’ standing at the heart of Vestiaire Collective, is already helping to drive change by choosing another way to consume fashion. The platform will continue to empower the voice of its global community through tools such as the ‘Fashion Activist’ badge which encourages members to adopt a ‘1 in, 1 out’ behaviour, further expansion of its Direct Shipping service and the ‘Follow the Leaf’ program which highlights the most sustainable options for each member. It will also continue to focus on further driving consumer awareness through continued educational campaigns and partnering with renowned ‘fashion activists’. Reducing environmental footprint: carbon neutral by 2026 Buying pre-owned helps avoid the environmental damage caused by fashion production, the simple act of buying a second-hand bag on Vestiaire Collective can reduce the environmental impact by up to 91%. As part of sustainability strategy Vestiaire Collective has just completed a full lifecycle assessment, the business is now focused on becoming carbon neutral by 2026. They have initiated a carbon emissions reduction roadmap, working to reduce shipping distances through a local-to-local scheme and expansion of their Direct Shipping. With over 50% of orders now completed through Direct Shipping, the service has already saved over 1,150 tons of CO2 since launching. Further to this the business will also offer more green shipping options and has just launched its new ‘less is more’ packaging that is 100% reduced, recycled and recyclable. Being an exemplary company: B Corp certified business Vestiaire Collective is dedicated to becoming an exemplary company, to achieve this goal it has launched a number of strategic initiatives. This notably includes an application to become a B Corp certified business, while also empowering its employees to act on important causes through 15 hours to help community work and the launch of 5 employee diversity & inclusivity task forces. Vestiaire Collective’s technology and data innovation roadmap is key to empowering its circularity vision. The strategy will focus on further developing artificial intelligence and leveraging data to enhance the customer experience. The business will more than double the size of its technology team, generating 155 new positions, available across data science, engineering, tech and product development. This will enable the platform to further support its community through increased functionalities such as profile and product recommendations based on users’ behavior, a dynamic pricing algorithm that gives real-time feedback to sellers and a digital wallet function will help incentivize sellers to reinvest in pre-owned. Goldman Sachs served as strategic advisor and private placement agent to Vestiaire Collective on the financing round. For further information please contact: Kering PressEmilie Gargatte: +33 (0)1 45 64 61 20 / emilie.gargatte@kering.com Marie de Montreynaud: +33 (0)1 45 64 62 53 / marie.demontreynaud@kering.com Analysts/investors Claire Roblet: +33 (0)1 45 64 61 49 / claire.roblet@kering.comLaura Levy: +33 (0)1 45 64 60 45 / laura.levy@kering.com Vestiaire Collective Melanie Hughes : +44 (0) 7929728313 / PR@Vestiairecollective.com Havas Paris Stephanie Elbaz: +33 (0)6 46 05 08 07 / stephanie.elbaz@havas.comMael Evin: +33 (0)6 44 12 14 91 / mael.evin@havas.com --- About Vestiaire Collective Vestiaire Collective is the leading global app for desirable pre-loved fashion. It is dedicated to transforming the fashion industry for a more sustainable future by promoting the circular fashion movement as an alternative to overproduction and overconsumption and the wasteful practices of the fashion industry. It provides its ‘fashion activist’ community with inspiration, tools and features to lead the change as they sell and buy unique pre-loved pieces from each other's wardrobes. The platform is unique thanks to its highly engaged activist community and its rare, desirable inventory of 3 million items that includes 140,000 new listings every week. Launched in Paris in 2009, Vestiaire Collective has offices in Paris, New York, Hong Kong, Singapore and a tech hub in Berlin. Find out more by downloading the app, visiting vestiairecollective.com and following @vestiaireco on Instagram. Vision: We transform the fashion industry for a more sustainable future by empowering a community of ‘fashion activists’ to drive systemic change Vestiaire Collective is a member of the Ellen Macarthur Foundation, Paris Good Fashion and the UN Fashion Alliance About Kering A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, Jewelry and Watches: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2020, Kering had over 38,000 employees and revenue of €13.1 billion. About Tiger Global Management Tiger Global Management, LLC is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and payments industries. The Firm’s private equity strategy was launched in 2003 and has invested in hundreds of companies across more than 30 countries, in all stages of funding – from Series A to pre-IPO. The venture business, which recently finished investing its twelfth fund, aims to partner with dynamic entrepreneurs operating market-leading growth companies; investments include JD.com, Meituan, Facebook, LinkedIn, Spotify, Peloton, Credit Karma, Toast, Stripe, ByteDance, Stone, Warby Parker, Flipkart, Despegar, Ola and DiDi. Tiger Global was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Beijing, Singapore and Bangalore. Attachment Press Release Vestiaire Collective Kering EN 2021 03 01
NEW YORK, March 01, 2021 (GLOBE NEWSWIRE) -- Pawar Law Group announces a class action lawsuit on behalf of shareholders who purchased shares of Jianpu Technology Inc. (NYSE: JT) from May 29, 2018 through February 16, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Jianpu Technology Inc. investors under the federal securities laws. To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action. According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: that certain of the Company’s transactions carried out by the Credit Card Recommendation Business Unit involved undisclosed relationships or lacked business substance; that, as a result, Jianpu’s revenue and costs and expenses for fiscal 2018 and 2019 were overstated; that there were material weaknesses in Jianpu’s internal control over financial reporting; that, as a result of the foregoing, the Company’s fiscal 2018 Form 20-F was reasonably likely to be restated; and as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. If you wish to serve as lead plaintiff, you must move the Court no later than April 19, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff. Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.------------------------------- Contact: Vik Pawar, Esq. Pawar Law Group 20 Vesey Street, Suite 1410 New York, NY 10007 Tel: (917) 261-2277 Fax: (212) 571-0938 info@pawarlawgroup.com
People’s Bank of Commerce (OTCBB: PBCO) announced that effective March 1, 2021, it completed the merger with Willamette Community Bank.
Fun fact: Lucky Charms marshmallows are called marbits, and you can buy them on their own. The post This Lucky Charms cereal milkshake turns the breakfast food into dessert appeared first on In The Know.
Almere, The Netherlands March 1, 2021, 5:45 p.m. CET ASM International N.V. (Euronext Amsterdam: ASM) reports the following transactions, conducted under ASMI's current share buyback program. DateRepurchased sharesAverage priceRepurchased valueFebruary 22, 20214,500€ 232.07€ 1,044,300February 23, 20211,440€ 216.37€ 311,578February 24, 20212,500€ 222.17€ 555,435February 25, 20215,067€ 225.23€ 1,141,233February 26, 2021---Total13,507€ 226.00€ 3,052,546 These repurchases were made as part of the €100 million share buyback program announced on June 2, 2020. Of the total program, 97.0% has been repurchased. For further details including individual transaction information please visit: www.asm.com/investors/share-information/share-buyback. About ASM International ASM International NV, headquartered in Almere, the Netherlands, its subsidiaries and participations design and manufacture equipment and materials used to produce semiconductor devices. ASM International, its subsidiaries and participations provide production solutions for wafer processing (Front-end segment) as well as for assembly & packaging and surface mount technology (Back-end segment) through facilities in the United States, Europe, Japan and Asia. ASM International's common stock trades on the Euronext Amsterdam Stock Exchange (symbol ASM). For more information, visit ASMI's website at www.asm.com. Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, epidemics and other risks indicated in the Company's reports and financial statements. The Company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances. This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. CONTACT Investor and media contact:Victor BareñoT: +31 88 100 8500E: victor.bareno@asm.com
Paris, 1st March 2021 - 17:45 COFACE SA: Disclosure of total number of voting rights and number of shares in the capital as at 28 February 2021 Total Number of Shares Capital Theoretical Number of Voting Rights1 Number of Real Voting Rights2 152,031,949 152,031,949 148,974,558 (1) including own shares (2) excluding own shares About Coface COFACE SA is a société anonyme (joint-stock corporation), with a Board of Directors (Conseil d’Administration) incorporated under the laws of France, and is governed by the provisions of the French Commercial Code. The Company is registered with the Nanterre Trade and Companies Register (Registre du Commerce et des Sociétés) under the number 432 413 599. The Company’s registered office is at 1 Place Costes et Bellonte, 92270 Bois Colombes, France. At the date of 28 February 2021, the Company’s share capital amounts to €304,063,898, divided into 152,031,949 shares, all of the same class, and all of which are fully paid up and subscribed. All regulated information is available on the company’s website (http://www.coface.com/Investors). Coface SA. is listed on Euronext Paris – Compartment AISIN: FR0010667147 / Ticker: COFA Attachment 2021 02 28 Declaration Shares&Voting Rights EN
ORION CORPORATION STOCK EXCHANGE RELEASE 1 MARCH 2021 at 18.45 EET Orion Corporation: Transfer of 99,768 own B shares on 1 March 2021 In accordance with a decision by the Board of Directors, Orion Corporation has on 1 March 2021 transferred altogether 99,768 Orion Corporation B shares held by the company as a share reward for earning periods 2018–2020 and 2019–2020 to the persons belonging to the Share-based Incentive Plan of the Orion Group. The transfer is based on the authorisation by the Annual General Meeting of 26 March 2019. The price per share of the transferred shares is EUR 34.1055, which is the volume weighted average quotation of the Orion Corporation B share on 1 March 2021. Accordingly, the total transaction price of the transferred shares is EUR 3,402,637.52. After the share transfer, the total number of own B shares held by Orion Corporation is 571,314. Orion Corporation has informed about the Share-based Incentive Plans in stock exchange releases on 2 February 2016 and on 6 February 2019. Orion Corporation Timo LappalainenPresident and CEO Olli HuotariSVP, Corporate Functions Contact person: Olli Huotari, SVP, Corporate Functions, tel. +358 10 426 3054, mobile +358 50 966 3054 Publisher:Orion CorporationCommunicationsOrionintie 1A, FI-02200 Espoo, Finland http://www.orion.fi/enhttp://www.twitter.com/OrionCorpIR Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are neurological disorders, oncology and respiratory diseases for which Orion develops inhaled pulmonary medication. Orion's net sales in 2020 amounted to EUR 1,078 million and the company had about 3,300 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.
Communiqué de presse – lundi 1 mars 2021 – 17h45 ARGAN livre une nouvelle plateforme logistique de 14 200 m² à Nancy (54) Après un an de chantier, ARGAN, foncière spécialisée dans le développement d’entrepôts logistiques PREMIUM, livre à COLRUYT sa nouvelle plateforme logistique C’est à Gondreville (54), commune située à une quinzaine de kilomètres à l’ouest de Nancy, au carrefour de l’autoroute A31 et de la Nationale 4, que COLRUYT - enseigne de supermarché de proximité, forte de 90 supermarchés situés dans le grand quart Nord-Est de la France - a réceptionné son nouvel outil logistique. Développé sur une parcelle de 6 hectares, le bâtiment de 14 200 m² accueille une chambre froide de 1 700 m² et un plot bureau de 800 m². Après une phase d’aménagement du site, les premières marchandises quitteront cette plateforme à la mi-avril pour alimenter une trentaine de magasins. ARGAN et COLRUYT sont engagés dans le cadre d’un bail d’une durée de neuf années fermes. Une capacité d’extension de 9 000 m² a été prévue sur ce projet. Afin de limiter l’empreinte carbone, et conformément au Plan Climat Argan présenté en janvier 2020, la toiture de cette base logistique est équipée d’une centrale photovoltaïque produisant 150 MWh par an destinés à l’autoconsommation de COLRUYT. Cette installation permet une économie d’émission de 10 tonnes de CO² par an. Calendrier financier 2021 (Diffusion du communiqué de presse après bourse) 25 mars : Assemblée Générale annuelle1er avril : Chiffre d’affaires du 1er trimestre 20211er juillet : Chiffre d’affaires du 2ème trimestre 202115 juillet : Résultats semestriels 20211er octobre : Chiffre d’affaires du 3ème trimestre 2021 A propos d’Argan ARGAN est l’unique foncière française de DEVELOPPEMENT & LOCATION D’ENTREPOTS PREMIUM cotée sur Euronext.Au 31 décembre 2020, son patrimoine représente 3 millions de m², se décomposant en 87 entrepôts implantés en France exclusivement, valorisé 3 Mds€ et générant 152 M€ de revenus locatifs annualisés.ARGAN est cotée sur le compartiment A d’Euronext Paris (ISIN FR0010481960 – ARG) et fait partie des indices CAC All-Share et IEIF SIIC France. La foncière a opté pour le régime des SIIC au 1er juillet 2007.www.argan.fr Francis Albertinelli - Directeur Administratif et Financier Marie-Caroline Schwartz – Secrétaire Générale Tél : 01 47 47 05 46 E-mail : contact@argan.frwww.argan.fr Aude Vayre – Relations presseTél : 06 14 64 15 65Philippe Ronceau – Relations InvestisseursTel : 06 64 12 53 61 E-mail : argan@citigatedewerogerson.com Attachment 20210301 - Livraison Colruyt Gondreville
The live TV streaming service reports fresh financials on Tuesday afternoon. Keep your eyes on the scorecard.
Workers at the Workplace Safety and Insurance Board (WSIB) have voted 95.5% in favour of strike action as a uniquely challenging round of bargaining reaches a critical point.
MONTHLY DISCLOSURE – Paris, 01/03/2021 REGULATED INFORMATION MONTHLY DISCLOSURE OF THE TOTAL NUMBER OF SHARES AND VOTING RIGHTS Article 223-16 of the AMF General Regulation Date Shares Voting rights Theoretical (1) Exercisable (2)28 February 2021380,788,646515,865,197515,785,197 (1) In accordance with Article 223-11 of the AMF General Regulation, this number is calculated on the basis of all the shares to which voting rights are attached, including shares for which voting rights have been suspended. (2) For information purposes only, this number has been calculated net of the shares for which voting rights have been suspended. The information is also available in the "Regulated Information" section of the Bouygues website. BOUYGUES SAA French Société Anonyme with share capital of €380,759,842Registered office: 32, avenue Hoche, 75008 Paris, FranceReg No. 572 015 246 Paris - I.E. FR 29 572 015 246 1/1 Attachment cp-mensuel_capital_droitvotes_février 2021_en
Where will J.J. Watt sign? Maybe his Peloton followers will find out first.
(Bloomberg) -- Trustpilot, a Denmark-based online platform for consumer reviews, plans an initial public offering in London, boosting the city’s image as a hotspot for listings in Europe.At least 25% of its shares will be available for trading and the company expects to be eligible for FTSE U.K. indexes, it said in a statement Monday. The IPO would raise about $50 million to fund growth and repay debt, and allow existing shareholders to sell shares. Trustpilot is seeking a valuation of around 1 billion pounds ($1.4 billion) in the IPO, according to two people familiar with the matter, who asked not to be identified discussing private information.Trustpilot, which is based in Copenhagen, would rank as the first large company from the European Union to tap the London stock market this year, showing that the city is still attractive to foreign listings after Brexit.The U.K. left the EU without an agreement about financial services regulation, causing stock volumes to shift to exchanges on the continent. However, London’s deep pool of capital continues to be a big draw for companies looking to go public.Trustpilot considered other venues, but “on balance, London was the natural choice,” Chief Executive Officer Peter Holten Muhlmann said in an interview. “There’s a really strong emerging tech scene in the City, it has a lot of liquidity and it’s one of the more important markets for us; we are a very well-known brand in the U.K. and the IPO will help us further accelerate that position.”‘Moving Online’The U.K. IPO market is off to its strongest start since 2008, with the likes of bootmaker Dr. Martens listing in London. U.K. food-delivery startup Deliveroo is also expected to lay out plans for an IPO in the coming weeks.Trustpilot is one of several firms trying to cash in on an acceleration in online shopping amid the coronavirus pandemic. Poland’s InPost SA, which operates automated parcel lockers for deliveries, listed in Amsterdam late January, while online greeting-card and gifting platform Moonpig Group Plc listed in London last month.“The entire economy is moving online,” Muhlmann said. “In the long term, the number of people using Trustpilot will be in the billions, and the businesses using Trustpilot to signify they are trusted will be in the millions.”Trustpilot had hosted 120 million reviews by the end of 2020. It makes money by selling subscriptions to businesses, which can use consumer reviews in their marketing materials and directly engage with customers on the platform.Revenue has risen 59% since 2018, totaling $102 million last year. As of end-December, it had more than 19,500 subscribers. The company, which was launched in 2007, has more than 700 employees in eight offices around the world, according to its website.Part of the IPO proceeds will go toward improving algorithms to detect fake reviews and part toward expanding in markets such as the U.S. as well as Europe, Muhlmann said. The company removed 2.2 million reviews in 2020, the majority through its automated fraud detection software. Reviews on Trustpilot are also screened by a team of people.Morgan Stanley & Co. and JPMorgan Chase & Co, are joint sponsors and global coordinators. Joh. Berenberg, Gossler & Co. KG and Danske Bank A/S are joint bookrunners.(Corrects number of reviews in ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The "Event Management Software Market by Component (Software (Event Registration and Ticketing, Content Management) and Services), Deployment Type, Organization Size, End User (Event Organizers and Planners, Government), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
NEW YORK, March 01, 2021 (GLOBE NEWSWIRE) -- Pawar Law Group announces a class action lawsuit on behalf of shareholders who purchased shares of 9F Inc. (NASDAQ: JFU) from August 14, 2019 through September 29, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for 9F investors under the federal securities laws. To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action. According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: the purported value and benefits of the Company’s financial institution partners and its tri-party cooperation business model did not in fact exist and/or were materially overstated, given that 9F and Property and Casualty Company Limited (“PICC”) had been engaged in an ongoing contractual dispute regarding payment of service fees under the Cooperation Agreement; the collectability of service fees owed to 9F by PICC under the Cooperation Agreement was in doubt and at serious risk of non-payment; there was a significant risk that PICC would no longer provide credit insurance and guarantee protection to investors and institutional funding partners; as a result of the foregoing, the Company’s platform, business model, reputation and financial results had been materially impaired; and as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. If you wish to serve as lead plaintiff, you must move the Court no later than March 22, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff. Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.------------------------------- Contact: Vik Pawar, Esq. Pawar Law Group 20 Vesey Street, Suite 1410 New York, NY 10007 Tel: (917) 261-2277 Fax: (212) 571-0938 info@pawarlawgroup.com
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