The cellphone giant turned security software provider said Oct. 4 it’s planning an initial public offering of the unit in the first half of its next fiscal year, which begins in March. The decision followedreview that had Wall Street speculating whether BlackBerry would split its segments, sell parts of the business or the whole company, whose market value stood at around US$2.5 billion before the announcement.
“We see the separation as a positive,” Raymond James analyst Steven Li said in a note Oct. 5, adding that the value of the business BlackBerry plans to spin off is “being masked by the ongoing struggles and churn in the cyber segment.” If the Waterloo, Ont.-based company achieves that valuation and decides to list in Canada, the offering would be a dramatic boost for IPO activity in Toronto. Firms have raised just $419 million through IPOs in the first eight months of this year, 78 per cent less than the tally for the same period in 2022.BlackBerry’s announcement comes as Wall Street prepares for a wave of spinoffs as household names including Kellogg Co., Intel Corp. and General Electric Co.
Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments.
Portugal Últimas Notícias, Portugal Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Fonte: SaltWire Network - 🏆 45. / 63 Consulte Mais informação »
Fonte: globeandmail - 🏆 5. / 92 Consulte Mais informação »
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »