Paytm’s expected US$2.2b IPO fuels India market | Malay Mail

MUMBAI, July 19 — Digital payments pioneer Paytm on Friday took a major step towards launching India’s biggest initial public offering, telling regulators that it would seek to sell US$2.2 billion in shares.

Founder and chief executive Vijay Shekhar Sharma, who has a net worth of US$2.3 billion according to Forbes, holds just under 10 per cent of the company. It has benefited from the government’s efforts to curb cash transactions — including the cancellation of nearly all banknotes in 2016 — and from the coronavirus pandemic.

“We expect to continue to incur net losses for the foreseeable future and we may not achieve or maintain profitability in the future,” the prospectus warned.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

US warns of ‘growing risks’ for business in blow to Hong Kong | Malay MailWASHINGTON, July 18 — The United States on Friday warned its business community of growing risks of operating in Hong Kong due to China’s clampdown, as an increasing number of Western companies consider abandoning the historic financial hub. The United States also imposed sanctions on seven...
Fonte: malaymail - 🏆 1. / 86 Leggi di più »