Tag Archives: Morgan Stanley
Morgan Stanley Banker Michael Grimes Gets Knocked On For Facebook IPO
After Facebook’s stock price dropped from $38 to below $32, Morgan Stanley investment banker Michael Grimes has been put on the spot. Grimes, co-head of the global technology banking at Morgan Stanley, has been capitalizing off of Silicon Valley companies since the mid-1990s. Facebook CFO David Ebersman relied heavily on Grimes’ advice during the IPO process. The two live a couple of miles apart and it was Grimes that counseled Ebersman to boost Facebook’s IPO price to $38 and increase the number of shares before the IPO.
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Categories David Ebersman, Facebook, Michael Grimes, Morgan Stanley, Stan Meresman
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Facebook and Banks Being Sued Over IPO
Facebook Inc. (NASDAQ:FB) and banks that include Morgan Stanley are being sued by the shareholders that claimed the defendants weakened growth forecasts ahead of the $16 billion IPO. The defendants including Facebook CEO Mark Zuckerberg are being accused of concealing “a severe and pronounced reduction” in revenue growth forecasts, which resulted from increased use of its app through mobile devices. The lawsuit was filed in the U.S. District Court in Manhattan. In this case, shareholders are saying that research analysts at several underwriters lowered business forecasts for Facebook during the IPO process, but the changes were “selectively disclosed by defendants to certain preferred investors” instead of to the public.
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Categories Facebook, Mark Zuckerberg, Morgan Stanley
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Morgan Stanley Cut Facebook’s Revenue Estimates Right Before IPO
During Facebook’s investor roadshow before the company IPO, lead underwriter Morgan Stanley delivered the news to clients that revenue forecasts were being reduced by the company. This could have been one of the reasons for the weak performance of Facebook shares between Friday and today. The $38 per share value valued Facebook at $104 billion.
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Categories Facebook, Morgan Stanley, Scott Devitt
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How BATS Had One Of The Most Disastrous IPO Experiences
Bats Global Markets is a 6 year old equity exchange that had to cancel their IPO after errors on their own computer systems derailed trading and caused a halt in Apple. Bats withdrew their IPO as a result of the errors.
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Facebook To File For IPO As Early As Wednesday
Facebook is expected to file papers for an IPO next week on Wednesday. The IPO is expected to value the company at between $75 and $100 billion. Morgan Stanley is expected to close the deal for underwriting the IPO. Goldman Sachs is also expected to play a large role in the deal. Other executives are saying considering filing a few weeks from now.
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Categories Facebook, Goldman-Sachs, Morgan Stanley
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AVG Files For Proposed IPO
AVG, the software company that was founded in 1991 and is known for their anti-virus software, has announced that they have filed a Registration Statement on Form F-1 with the U.S. SEC in connection with a proposed IPO of their ordinary shares. AVG will sell on the New York Stock Exchange with the symbol “AVG.” Morgan Stanley, JP Morgan, and Goldman Sachs will be running the books on the IPO. Co-managers for the IPO include Allen & Company and JMP Securities.
Categories Allen & Company, AVG, JMP Securities, JPMorgan, Morgan Stanley
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Morgan Stanley: Nokia Could Potentially Sell 37 Million Units In 2012 [REPORT]
The year 2011 has not been a great year for Windows Phone, but 2012 may be different. Now there is a decent selection of Windows Phone devices that are out there, including the Nokia Lumia 900. Morgan Stanley is expecting shipment of Nokia’s new Windows-based devices to hit about 37 million units in 2012 and 64 million in 2013.
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Glam Media Plans To IPO In Second Half Of Next Year
Glam Media is expected to have an IPO in either the third or fourth quarter of 2012. The company is currently talking to bankers such as Goldman Sachs and Morgan Stanley to lead the IPO. Glam Media is expected to top 206 million unique visitors per month across all of their properties. It is currently a comScore Top 10 U.S. Web Property. Glam is rumored to be valued at $950 million after acquiring Ning for about $200 million. [BusinessInsider]
SAP Acquiring SuccessFactors For $3.4 Billion
Enterprise IT company SAP AG (NYSE:SAP) is acquiring SuccessFactors for $3.4 billion or $40 per share. The transaction was made entirely in cash and is expected to close early next year. This is a 52% premium above Friday’s closing price.
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How Much Groupon Executives and Investors Made From The IPO
Yesterday Groupon Inc. (NASDAQ:GRPN) had an initial public offering. The company set their stock price at $20 and yesterday it closed at $26.11. The company was given a valuation of over $17 billion. BusinessInsider.com has compiled a list of how much the executives and investors made from the IPO. Below is the list:
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Categories Accel Partners, Andreessen Horowitz, Andrew Mason, Battery Ventures, Brad Keywell, Brian Totty, Digital Sky Technologies, Elizabeth Lefkofsky, Eric Lefkofsky, Fidelity Investments, Greylock Partners, Groupon, Groupon.com, Howard Schultz, Kenneth M. Pelletier, Kleiner Perkins, Kleiner Perkins Caufield & Byers, Maverick Fund, Morgan Stanley, New Enterprise Associates, Robert Solomon, T. Rowe Price, Technology Crossover Ventures, Ted Leonsis, The European Founders Fund, The Growth Fund of America
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