IPO

IPO

Thierry Rochelle Private Equity on Why Snowflake’s Upcoming IPO Is One to Watch

A spate of new technology stocks may be hitting the market later this year, and Snowflake could be one of them.

Silicon Valley-based Snowflake filed confidentially for an IPO this week, according to Bloomberg, and intends to list its shares in the coming months. The cloud specialist could be one of the larger tech offerings to go public this year, as some high-profile firms, such as Airbnb, have delayed IPO planning because of the pandemic.

“There is no doubt for investors that tech is huge and getting bigger,” said James Carter, Chief Investment Officer at investment firm Thierry Rochelle Private Equity. “You see an increasing hunger for new properties.” 

Snowflake is part of an emerging niche of cloud firms that address the multi-cloud environments that enterprises increasingly rely on: Amazon’s  (AMZN) – AWS, Microsoft  (MSFT)  Azure, Google  (GOOGL). Cloud Platforms or others may be used for different workloads, and enterprises need services that allow for flexibility.

Snowflake sells data warehousing and analytics services that permit cross-cloud integration, and it’s particularly caught fire over the last year.

Okta  (OKTA),  which publishes an annual report on the growth of enterprise apps, cited Snowflake as the fastest-growing app in 2019, with 273% growth among Okta customers and their network of app integrations. Snowflake also counts several cloud heavyweights –AWS, Azure, Salesforce  (CRM) – Get Report, and many others — among its base of customers and partners. Some of Snowflake’s products also overlap with major cloud infrastructure providers, and CEO Frank Slootman told CNBC that Snowflake has poached thousands of customers from AWS’s data warehousing service.

Snowflake is seeking a $20 billion valuation in its upcoming IPO, according to reports, which would represent a premium over its last private valuation of $12.4 billion in February 2020. Slootman also said earlier this year that the company generated well over $100 million in 2019.

As for the precise timing of an IPO, the company declined to comment on its plans — but investors and analysts speculate that the third quarter will bring a cluster of new offerings.

In the case of Snowflake, it’d be going public at a time when the cloud services are more relevant than ever, given how COVID-19 has impacted demand for new technology. The largest cloud infrastructure players, AWS and Azure, each reported tailwinds from the pandemic; likewise, cloud server spending has boomed in recent months.

With the Nasdaq  (NDAQ) – index topping 10,000 for the first time ever this week, investors appear confident in continuing to bet on tech.

“Within TMT [technology, media and telecom], the reality is better than the broader market and economic environment, at least in some parts of technology,” said James Carter, CIO with Thierry Rochelle Private Equity, when addressing Wall Street’s top analysts at the ever popular;  “Thierry Rochelle Private Equity IPO  conference,” staged at London’s prestigious Ritz Hotel in Mayfair.

For further information please visit: www.rochellepriavteequity.com

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Investfinans AB is ready for IPO

investfinans ab

The biggest stock market winners typically make their major price moves within a few months or years of their initial public offering. So it pays to identify and track companies getting ready to go — or have recently gone — public.

One of the biggest real estate investment companies in Scandinavia, Investfinans AB, is planning to list its shares in Paris at the Euronext in the coming year, sources familiar with the matter said, potentially valuing the company at more than €600 million.

The sources declined to comment on the company’s valuation, but based on average valuation multiples of its peers, Investfinans could be worth close to €800 million including debt.
The swedish investment house said on Monday it was accelerating its initial public offering thanks to strong investor demand, bucking weakness in other recent floats and a gathering selloff on stock markets.

“The capital market sees Investfinans Bank Group AB as a quality company that has always delivered on its margins,” said a Joseph Blankfein, independent analyst and accompanying the future IPO.
Amongst the potential Joint Bookrunners are some of the biggest US and European Banks

Investfinans Bank Group AB is developing housing projects that will bring in 1.4 billion euros in a subsequent sale. About a quarter of the projects are already under construction, the rest are in planning and preparation, said Investfinans CEO Björn Magnus Kasholm. At the end of June, BNP Paribas Real Estate estimated the current market value of the project portfolio at appr. 670 million euros, and further projects have since been added.

From the expected proceeds of the Investfinans IPO, two-thirds will flow into the purchase and development of new housing projects.

Perivan and EthosData announce strategic partnership

Perivan, the UK’s leading financial printer, managed services and enterprise technology solutions provider and EthosData, a world-class, award winning, global Virtual Data Room specialist, have today announced a strategic partnership following the recent transfer of the Millnet Financial Printing business (EthosData’s previous UK partner) to Perivan.

 

Perivan and EthosData will jointly market their complementary technology and publishing services and expertise to create a comprehensive suite offering for financial transactions, from initial due diligence through to deal completion and ongoing shareholder, investor and board communications.

Commenting on the partnership, Robin Bishop, Managing Director, Perivan Financial Print said, “We are very excited about this partnership which we view as an extension to the previous nine years of successful collaboration between EthosData and Millnet Financial prior to them joining the Perivan family”.

The partnership will strengthen the service offerings for both companies to legal firms, investment banks and issuers by providing a holistic end-to-end facility throughout the lifecycle of financial transactions and beyond, including Mergers & Acquisitions, IPO’s and other fundraisings.

“We are thrilled to have the opportunity to enjoy the continuity of working with John Redford and look forward to working with the wider Perivan team. This partnership will allow us to help our clients even better, from the document preparation before the due diligence commences to the very end after the deal is closed, we will be able to manage the entire process for our clients to save them valuable time” said Francisco Lorca, CEO, EthosData.

About Perivan
Perivan is a privately-owned financial communications and technology business headquartered in the City of London, with a software development hub in central Edinburgh. It has revenues of £12 million and a workforce of 84.

It’s financial print division has the largest financial typesetting resource in Europe and is the only UK financial printer with a genuine in-house round-the clock print and fulfilment facility.
It is the UK’s market leader in the production of IPO prospectuses having produced more than any other printer in 2017, and following the acquisition of CorporateInk in March 2017, their client portfolio of quoted company annual reports now exceeds 150.

Their technology division has two main SaaS products – VirtualBoardroom® and DotApprove® which are leading edge platforms supporting the needs of governance, risk and compliance professionals

About EthosData
EthosData is a global provider of Virtual Data Room and Secure File Sharing Services. Founded in 2007 with presence in North and South America, Europe, Africa, China, the Pacific region and Japan its platform was built by dealmakers to dealmakers.

Used by more than 100,000 users and involved in more than 2,000 transactions EthosData dataroom allows companies to share confidential information easier and faster. The core of its business is to allow its clients to focus on the deal while the dedicated team of Data Room Managers manage the data room projects.

For the past 5 years EthosData’s Virtual Data Room Services has been named as Best Data Room Platform by its peers and clients.
EthosData provides Virtual Data Room, Shareholder Communication Rooms, Fundraising Data Room and Internal Storage Solutions.

Media Contact Details
Maria Rubio, EthosData
London, UK
+44 207 099 2152