Saudi Arabia plans Aramco share sale as soon as June, according to sources
Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June, with the offering expected to raise around billion.
initial public offering
Finance ministry to cut corporate tax for industries, consumer goods in new budget, says source
The government plans to reduce corporate tax rates in the productive sector by 2.5 percent in the upcoming fiscal year 2024-25 to encourage setting up of industries and increase tax payments.
Reddit shares soar as earnings show advertising, AI licensing revenue potential
Reddit shares soared 14% after strong revenue growth and improving profitability in its first earnings since its market debut.
Govt may lower corporate tax to encourage compliance
The government may reduce the corporate tax rate in fiscal 2024-25 to encourage compliance and boost collection, with the National Board of Revenue likely proposing a 2.5 percentage point reduction for both listed and non-listed companies.
Bangladesh may lower corporate tax to encourage compliance
The government may reduce the corporate tax rate in fiscal 2024-25 to encourage compliance and boost collection, with the National Board of Revenue likely proposing a 2.5 percentage point reduction for both listed and non-listed companies.
Reddit guides IPO may price at top of range or above
Reddit and its bankers are considering pricing the company’s initial public offering (IPO) at the top of the indicated range or above. The San Francisco-based company aims for a valuation of .5 billion in the IPO, with share prices between and . If priced at the top end, the IPO would raise 8 million. Reddit confidentially filed for its IPO in December 2021 but delayed it due to market conditions. The IPO is highly anticipated, with shares expected to begin trading on a Thursday. The offering is between four and five times oversubscribed, indicating strong investor interest. Reddit has reserved 8% of the shares for eligible users, moderators, certain board members, and friends and family of employees and directors. The company declined to comment on the pricing plans, which were initially reported by Bloomberg News. Morgan Stanley, Goldman Sachs, J.P. Morgan, and Bank of America Securities are the lead underwriters, with shares to be listed on the New York Stock Exchange under the symbol “RDDT.”
Reddit, ’s IPO as much as five times oversubscribed, according to sources
Reddit’s initial public offering (IPO) is between four and five times oversubscribed, indicating a high demand for its shares. The company aims for a .5 billion valuation and expects to price its shares between to during the IPO in New York. Reddit has adjusted its valuation expectations from a billion private fundraising round in 2021 to seeking to raise up to 8 million through the IPO. Despite never having been profitable since its 2005 launch and facing challenges with advertiser appeal due to its content moderation practices, Reddit has a loyal user base. The platform is known for its role in the 2021 “meme-stock” saga and has reserved 8% of its IPO shares for its users and moderators, among others. As of December 31, 2023, Reddit reported an average of 73.1 million daily active users.