Norway’s Pexip announced virtual roadshows on Monday in a step towards becoming the first cover samsung s3 grand neo European company to complete an initial public offering (IPO) remotely, as it looks to build on demand for video conferencing due to the coronavirus crisis. Pexip, which rivals video conferencing software such as Zoom and BlueJeans and says it is used by the US military samsung hoesjes and the German government, may blaze a trail for others, bankers said.
A combination of turbulent markets due to the economic impact of the coronavirus pandemic and the logistical hurdles of conducting a deal cover samsung galaxy j1 silicone remotely during lockdowns in most of the world has deterred companies from launching IPOs.
But in a rare example of a firm going ahead with a listing during the crisis, Pexip intends to sell 17 million new shares at NOK 63 (roughly Rs. 460) each. Existing shareholders plan to sell another 17 million shares at the same price, taking the total to cover samsung galaxy grand prime sm-g531f be raised in the IPO to NOK 2.142 billion (roughly Rs. 1,560 crores).
IPOs usually involve analysts, bankers and company executives jet setting cover samsung a6 2018 vetro around the world for presentations at high end hotels and face to face meetings with investors.
“We initially had some pushback about cover iphone x cr7 completing the cover samsung s7 edge star wars deal on video, but this lockdown period is a big change for society as a whole and we believe for the custodia cover huawei p30 finance industry and for IPOs it is a super efficient way of doing interactive meetings,” Pexip Chief Executive Odd Sverre Ostlie told Reuters on Friday.
Ostlie admitted, however, that the market volatility had scared him a bit, but “massive interest” since Pexip first announced its intention to cover iphone hunger games list last week helped soothe nerves.
As the working world has rushed to video conferencing systems since the crisis erupted, their security systems have come under scrutiny.
Pexip markets itself as being more secure than rivals by allowing users to store the data on a “self host” basis on their own private cloud or data centre.
Funds advised by Capital Research and foto cover per iphone 4s Management Company, Wasatch Global Investors, DNB cover tirapugni iphone 6 Asset Management and TIN Fonder have committed to subscribe to NOK 1 billion (roughly Rs. chausson pokemon 730 crores) of shares in the IPO.
“We did the very first early look meetings back in January and February live, then we switched to all video meetings,” said Peter Straume, managing partner and chief executive of ABG Sundal Collier Norway, one of cover iphone 6s 0.3 the joint global clear view cover samsung coordinators along with Carnegie and Pareto Securities.
“The company has for example never met the two US based cornerstone investors face to face, all interaction with them have been done by video,” he added.
Other potentialsMarket participants are keeping a close eye on proceedings and cover samsung j5 2017 unicorni trying to glean what the deal might mean for other potential issuers. With IPOs drying up, equity capital markets (ECM) custodia cover iphone 6 6s bankers are focusing on running secondary trades for companies looking to raise funds to get through a global recession.
But bankers say that a small pipeline of deals is building in Europe, especially in the Nordic region. In the United States, pharma companies Zentalis baymax cover samsung Pharmaceuticals and Keros Therapeutics completed IPOs last month.
“I suspect that in most IPOs when investors need to make substantial investments they will still want to meet management but that can change,” said a London based banker who heads flip cover samsung note 3 neo original equity capital markets for a bulge bracket bank. He said he would be keeping a close eye on the Pexip trade.
Roadshows for Pexip will run from May 5 to May cover samsung galaxy note 5 12, though timing may be extended up until May 19 if necessary, the company said in a statement to the Norwegian bourse. 2.35 Crores to Provide Laptops, Broadband to Needy IIT Bombay Students Samsung Galaxy M01s Official Support Page Reveals 3GB RAM Variant, May Launch in India Soon JPMorgan Drops cover samsung galaxy core plus sm g350 Terms ‘Master,’ ‘Slave’ From Internal cover iphone 5 pelose Tech Code, Materials BSNL Revives 4 Percent Instant Discount Offer for Recharging Other People’s Prepaid Accounts..