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The article reports that companies are delaying their initial public offering (IPO) plans in the U.S. due to stock market volatility. Topics discussed include concerns over stock turbulence due to uncertainty in the presidential election in November 2024 and the Federal Reserve's interest rate cutting plans, the rebound of major U.S. stock indexes following the release of more reassuring economic data, and companies that postponed their IPOs including WeRide and StubHub.

QXO, a company formed by entrepreneur Brad Jacobs, experienced a significant rise and fall in its stock value, violating the Law of One Price. Jacobs and other investors initially invested $1 billion into a software company, SilverSun Technologies, which was then renamed QXO. The company raised an additional $4.1 billion in private placements, resulting in a total value of $5 billion. However, the original shareholders still held a limited number of shares that could be traded, leading to inflated prices and a paper valuation of $90 billion. This anomaly was rectified when the remaining shares became tradable, causing the value to plummet. Similar mispricings have occurred in the past during periods of market exuberance. [Extracted from the article]

GameStop's stock fell 20% after the company announced plans to sell up to 45 million more shares and projected a drop in quarterly sales. The company filed a shelf registration with the Securities and Exchange Commission to sell more shares of common stock and preferred stock. GameStop also provided preliminary first-quarter results, expecting a loss of $27 million to $37 million and sales of $872 million to $892 million, down from $1.24 billion in the same quarter last year. The company has struggled to grow sales due to the increasing popularity of downloading games online and the rise of free-to-play games. [Extracted from the article]

Healthcare-payments company Waystar is planning to launch an initial public offering (IPO) in early June. The company, backed by private-equity firm EQT, had originally intended to go public last year but postponed due to market conditions. Waystar is expected to target a valuation of around $5 billion or $6 billion, higher than its 2019 valuation of $2.7 billion. The IPO market has been improving, with several recently listed companies trading above their IPO prices. Private-equity firms are also looking to sell holdings and taking companies public has become an attractive exit strategy. [Extracted from the article]

Hyundai Marine Solution, a ship-repair unit of South Korean shipbuilding conglomerate HD Hyundai, is set to raise $540 million in South Korea's largest initial public offering (IPO) in over two years. The company has priced its shares at 83,400 won each, at the top end of its marketed range. The IPO will bring the company's initial market capitalization to $2.70 billion, and shares are expected to begin trading in May. Proceeds from the offering will be used to build logistics facilities and acquire companies focused on ship-engine after-sales services. [Extracted from the article]

Japanese stocks, represented by the benchmark Nikkei Stock Average, reached record highs in March due to factors such as earnings growth, a weaker yen, and improvements in corporate governance. However, analysts suggest that the market may be vulnerable to disappointments in the near term as investors may have been overly optimistic about further earnings growth, share buybacks, and inflation. The Bank of Japan's quarterly corporate survey also showed a decline in sentiment among large Japanese manufacturers. The biggest risk to Japanese stocks is the deterioration of the U.S. economy, which could lead to lower interest rates and weaker Japanese corporate earnings. Despite these short-term concerns, analysts believe that Japanese stocks may continue to advance in the longer run due to the return of modest inflation. [Extracted from the article]

Reddit, the social-media platform, is offering its users the opportunity to own shares in its upcoming initial public offering (IPO). This is a unique opportunity for individual investors, as IPO shares are typically reserved for big investors. However, investing in an IPO can be risky, and Reddit has listed small investors as a risk factor in its IPO filing. Some Reddit users are excited about the chance to own a piece of the platform, while others have concerns about potential losses and the volatile nature of individual investors. The IPO market has been spotty in recent years, but 2024 could see a comeback for IPOs. [Extracted from the article]

Aviva, a British insurer and asset manager, has reported better-than-expected figures for 2023 and has upgraded its targets for various metrics. The company now aims for an operating profit of around GBP2 billion by 2026, compared to its previous target of GBP1.5 billion by 2024. Aviva also plans to generate GBP1.8 billion in Solvency II own funds by 2026 and aims for over GBP5.8 billion in cash remittances between 2024 and 2026. The company's general insurance gross written premiums increased to GBP10.89 billion, beating consensus views, and it ended the year with a Solvency II cover ratio of 207%. [Extracted from the article]

Fintech giant Stripe is allowing its employees to cash out over $1 billion of stock as it continues to delay its initial public offering. Stripe and its investors, including Sequoia Capital and Goldman Sachs's growth equity fund, will buy shares from current and former employees, valuing the company at $65 billion. This deal suggests that Stripe is likely to postpone its IPO until at least 2025. The transaction is part of a commitment by the founders, the Collison brothers, to provide liquidity to longtime and former employees. Stripe's growth has expanded beyond tech startups and small businesses to include big business clients like Ford Motor and Best Buy. [Extracted from the article]

Private IPOs, also known as private initial public offerings, are being discussed on Wall Street as a way for private-equity firms to cash out of investments without going through the traditional IPO process. In a private IPO, early backers privately sell shares to longer-term investors, such as mutual funds or sovereign-wealth funds, bypassing the public markets. While some proponents argue that private IPOs can lay the groundwork for a future stock-market debut and provide liquidity for frustrated investors, skeptics view it as a marketing tactic and question the lack of liquidity. Private-equity firms like EQT and KKR have shown interest in private IPOs, but some mutual-fund managers are cautious due to the lack of clarity on when they can sell the shares. [Extracted from the article]

Allianz, a German insurer, reported that its fourth-quarter profit nearly doubled due to a strong performance in its life-health segment. The company also announced a new share buyback program and increased its dividend payout. Operating profit rose 17% in the quarter, driven by a strong performance in its life-health business and increased profitability in all other segments. However, Allianz's fourth-quarter property-casualty combined ratio weakened and missed expectations. The company has set a target operating profit for 2024 at EUR14.8 billion. [Extracted from the article]

Reddit plans to offer shares in its upcoming IPO to 75,000 of its most active users, a move that is uncommon but could foster loyalty. These users will have the opportunity to purchase Reddit shares at the IPO price before trading begins, a privilege typically reserved for large investors. While this strategy could result in significant gains for these users if the stock performs well, it also carries the risk of angering the Reddit community if the stock falls. This approach differs from the traditional practice of selling the majority of IPO shares to institutional investors. The IPO market has been challenging in recent years, with many new listings trading below their IPO prices. Reddit, a social media company known for its message boards and digital town halls, is expected to go public in March on the New York Stock Exchange. [Extracted from the article]

French tire maker Michelin has announced plans to buy back shares after reporting flat earnings for 2023. The company's net profit for the year was ¿1.98 billion, slightly lower than the previous year's ¿2 billion, while sales declined by nearly 1% to ¿28.34 billion. Michelin's operating income for 2023 decreased by 12% compared to the previous year. The company also stated its targets for 2024, including a segment operating income of over ¿3.5 billion and a share buyback worth up to ¿1 billion. [Extracted from the article]

Activist investor Barington Capital has acquired a stake in Mattel and is urging the toymaker to make changes to improve its stock performance. Barington is calling for strategic alternatives for Mattel's Fisher-Price and American Girl businesses, a halt to excessive stock-based compensation, and a $2 billion share-buyback plan. The investor also wants Mattel to separate the CEO and chairman roles. Mattel is reviewing Barington's letter and has stated that it looks forward to engaging with the investor. There is no guarantee that Barington's campaign will be successful. [Extracted from the article]

Renault has announced that it is canceling the initial public offering (IPO) of its electric-car unit, Ampere, due to unfavorable equity-market conditions. The French automaker had planned to list Ampere in 2022, with the trading debut scheduled for spring 2024. However, Renault believes that the current market conditions are not conducive to pursuing the IPO in the best interests of the company, its shareholders, and Ampere. Renault will continue to fund Ampere until it reaches break-even in 2025 and remains committed to its strategic plan of becoming Europe's top electric-vehicle producer. [Extracted from the article]

Renault's electric-vehicle and software company, Ampere, is aiming for an IPO and has set a revenue target of over 10 billion euros ($10.88 billion) in 2025. The company plans to sell around 300,000 vehicles that year and aims to sell 1 million vehicles by 2031, with a revenue target of over EUR25 billion. Ampere aims to achieve price parity between its electric cars and Renault's gas-powered cars by 2027 or 2028, and it expects to break even in terms of profit and free cash flow by 2025. The IPO is scheduled for the first half of 2024, and Renault will retain a majority stake in Ampere's capital. [Extracted from the article]