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What do Burger King and Heinz have in common, apart from the ketchup?
Both traded publicly once, then went back to being privately held. While Burger King was troubled by its falling value, food giant Heinz chose privatization to “expand more aggressively internationally.” Burger King continued this back and forth and later relisted in 2012 before delisting again in 2014.
Going from public to private allows companies time to restructure their business away from the prying eyes of public shareholders and analysts.
In the Big Story this week, my colleague Simon examines why Singapore-based business process outsourcing firm TDCX (TDCX, NYSE) is planning to go private after listing on the New York Stock Exchange just over two years ago. Does this also set precedence for other listed Southeast Asian companies that have struggled since going public?
— Samreen
THE BIG STORY
Image credit: Timmy Loen
TDCX’s CEO aims to delist the BPO firm amidst struggling valuation
The offer price values the company at a trailing twelve-month P/E ratio of 11.2x, significantly below the median P/E ratio for comparable companies.
3 Trends to keep an eye on
Hot stocks, earnings reports, restructuring, pressure from activist investors, and more.
1️⃣ Crypto apps bite the dust on Apple (AAPL, NDAQ) store in India: Top crypto apps such as Binance, OKX, and Kucoin were removed from the Apple app store in India after the government issued show-cause notices to nine such apps for not complying with local tax rules.
This gives an opportunity to homegrown players such as CoinSwitch Kuber and CoinDCX to fill the void in the country’s near US$340 million crypto market.
2 Eye-popping facts
The one you didn’t see coming
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