Snap Inc, the maker of messaging app Snapchat, plans to reveal financial statements and other disclosures for its initial public offering (IPO) by late this week, according to a person familiar with the matter.
It will be the public’s first chance to see the performance of the fast-growing company, which is aiming to raise as much as US$4 billion in its IPO. Snap has already filed its information privately with the US Securities and Exchange Commission.
The company plans to emphasize its average revenue per user and is aiming to grow in more mature markets, according to the people.
After filing publicly, Snap must wait 21 days before starting a road show to tout the listing to investors. On the current schedule, the company’s shares could start trading in March. Noah Edwardsen, a Snap spokesman, declined to comment.
Separately, Liquidia Technologies, a biotechnology firm backed by the Bill & Melinda Gates Foundation, is planning an IPO in Singapore this year, according to people with knowledge of the matter.
The US company aims to list on Singapore’s junior Catalist market at a valuation of about S$300 million (US$211 million), the people said, asking not to be identified because the information is private.
Liquidia is in early talks with investors including Malaysian sovereign fund Khazanah Nasional Bhd about selling a stake before the proposed offering, according to the people.
Liquidia was founded in 2004 and is led by chief executive officer Neal Fowler, the former president of Johnson & Johnson’s Centocor unit. The company’s current investors include GlaxoSmithKline PLC, the largest UK drugmaker, as well as venture capital firms Canaan Partners, New Enterprise Associates Inc and Morningside Group, according to its Web site.
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has appointed Rose Castanares, executive vice president of TSMC Arizona, as president of the subsidiary, which is responsible for carrying out massive investments by the Taiwanese tech giant in the US state, the company said in a statement yesterday. Castanares will succeed Brian Harrison as president of the Arizona subsidiary on Oct. 1 after the incumbent president steps down from the position with a transfer to the Arizona CEO office to serve as an advisor to TSMC Arizona’s chairman, the statement said. According to TSMC, Harrison is scheduled to retire on Dec. 31. Castanares joined TSMC in
EUROPE ON HOLD: Among a flurry of announcements, Intel said it would postpone new factories in Germany and Poland, but remains committed to its US expansion Intel Corp chief executive officer Pat Gelsinger has landed Amazon.com Inc’s Amazon Web Services (AWS) as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker. Intel and AWS are to coinvest in a custom semiconductor for artificial intelligence computing — what is known as a fabric chip — in a “multiyear, multibillion-dollar framework,” Intel said in a statement on Monday. The work would rely on Intel’s 18A process, an advanced chipmaking technology. Intel shares rose more than 8 percent in late trading after the
FACTORY SHIFT: While Taiwan produces most of the world’s AI servers, firms are under pressure to move manufacturing amid geopolitical tensions Lenovo Group Ltd (聯想) started building artificial intelligence (AI) servers in India’s south, the latest boon for the rapidly growing country’s push to become a high-tech powerhouse. The company yesterday said it has started making the large, powerful computers in Pondicherry, southeastern India, moving beyond products such as laptops and smartphones. The Chinese company would also build out its facilities in the Bangalore region, including a research lab with a focus on AI. Lenovo’s plans mark another win for Indian Prime Minister Narendra Modi, who tries to attract more technology investment into the country. While India’s tense relationship with China has suffered setbacks