• Morgan Stanley sold $5 billion in Archegos' stocks just before wave of sales hit rivals, report says

    6 days ago - By Business Insider

    Traders work on the floor of the New York Stock Exchange.
    Spencer Platt/Getty Images
    Morgan Stanley sold about $5 billion in shares that Archegos Capital had to unload, with the sales made the night before a massive securities sale, CNBC reported Tuesday.
    Sources told CNBC the investment bank didn't tell the buyers that the shares it was selling would be the start of an unprecedented wave of securities sales by some investment banks.
    Archegos collapsed after Wall Street banks forced the firm to sell more than $20 billion worth of shares after failing to meet a margin call.
    See more stories...
    Read more ...

     

  • Walmart's Flipkart is targeting a 4th-quarter IPO that could value it at $35 billion, new report says

    Walmart's Flipkart is targeting a 4th-quarter IPO that could value it at $35 billion, new report says

    6 days ago - By Business Insider

    Summary List Placement Walmart-owned Indian e-commerce company Flipkart is working towards an initial public offering as soon as the fourth quarter of this year, according to a report from Bloomberg .
    Flipkart will be aiming for a valuation of at least $35 billion, according to Bloomberg, citing people familiar with the matter.
    If achieved, that would mean Walmart more than doubled its investment in Flipkart. In 2018, the US retail giant purchased a 77% stake in Flipkart for $16 billion. Shares of Walmart rose 1.1% after the Bloomberg report Tuesday morning but have since pared back...
    Read more ...

     

  • Walmart's Flipkart is targeting a 4th-quarter IPO that could value it at $35 billion, new report says

    6 days ago - By Business Insider

    Reuters
    Walmart-owned Flipkart is working towards an IPO as soon as the fourth quarter of this year, Bloomberg reported.
    The Indian e-commerce giant is seeking a valuation that could top $35 billion.
    If achieved, that would mean Walmart more than doubled its 2018 investment in Flipkart.
    Sign up here for our daily newsletter, 10 Things Before the Opening Bell .
    Walmart-owned Indian e-commerce company Flipkart is working towards an initial public offering as soon as the fourth quarter of this year, according to a report from Bloomberg .
    Flipkart will be aiming for a valuation of at least $35...
    Read more ...