$1.2bn ‘Miracle Mushrooms IPO’
Are we sure these aren’t magic mushrooms with a price tag like that? Malaysisan health supplement producer, Miracle Mushrooms is looking to make a public markets debut…And it could be a biggie!
Owner firm DXN Holdings is still umm-ing and ahh-ing as to whether it should accept an offer of $1.2bn for its little mushroom gold mine or roll the dice with a big IPO. The company itself sells a traditional Chinese medicine in capsule form made from lingzhi mushrooms rumoured to have near-miraculous properties.
The supplement is said to help promote longevity, boost immunity and combat serious conditions ranging from liver disease to cancer. What can’t these shrooms do?
Miracle Mushrooms is just one of many South-East Asian companies that has made its way onto the international market’s radar with acquisitions in the region skyrocketing 48% this year alone. This gives 2019 the highest acquisition rate in over a decade for South-East Asia, coming in at a whopping $31.2bn.
While DXN has not yet decided if it will sell the company or make it public, it will make one heck of a splash in the markets either way. What a time to be alive!
Company Results Coming Up This Week
Monday: UK bank holiday, Colgate Palmolive, GAIL, Zee Entertainment, Tauron Polska, Bank Leumi
Tuesday: Pfizer India, Instone Real Estate, Matas, Hellas Motor Oil, Workday Inc, Sun Pharmaceutical
Wednesday: Abercrombie & Fitch, PVH Corp, Aveva, Rocket Internet, Capri Holdings
Thursday: Dell Technologies, Burlington Stores, Dollar Tree, Alpha Bank, Okta, VMware, Costco, The Gap, Steel Authority India, FirstGroup, Johnson Matthey, Pennon Group
Friday: Wizz Air
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