|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||140.00 - 144.00|
|52 Week Range||101.00 - 227.94|
|Beta (3Y Monthly)||0.93|
|PE Ratio (TTM)||44.32|
|Forward Dividend & Yield||0.21 (0.17%)|
|1y Target Est||N/A|
German payments company Wirecard sought on Thursday to refocus on growth after securing audit approval of annual results which had been delayed by allegations of fraud and false accounting at its Singapore office. Germany's leading fintech company has been shaken by a string of reports in the Financial Times, which it has denied, citing a whistleblower's allegations that local staff padded revenues through sham transactions. Wirecard said auditor EY had found "no objections against the accounting treatment of the facts that were the subject of various allegation made by a purported whistleblower in Singapore".
According to the auditor’s report, there is so far no evidence that 2018 annual results need to be corrected with regard to Singapore whistleblower accusations. It said it wanted to slightly increase its dividend, from the €22m paid out to shareholders last year.
ASCHHEIM, Germany , April 25, 2019 /PRNewswire/ -- Consolidated revenues 2018 increased by 35.4 percent Transaction volume 2018 increased by 37.3 percent 36.6 percent increase in EBITDA Free cash ...
Wirecard says it expects to post EBITDA of between 740 million and 800 million euros this year. Its report comes on the heels of an announcement that SoftBank will invest $1 billion in the company. The fintech firm was the subject of controversy earlier this year amid reports of fraud and false accounting.
The Japanese technology conglomerate is not buying shares, however. It is instead purchasing a convertible bond, a type of debt that can be repaid in stock rather than cash. The Japanese conglomerate frequently makes use of equity derivatives, often as a way of employing leverage — raising debt against its stakes that can be deployed on other investments.
FT premium subscribers can click here to receive Due Diligence every day by email. Tom Barrack was barely in his forties when his boss, the oil heir Robert Bass, entrusted him with the assignment that would launch him on the path to power and fortune. The Plaza occupied an even more prestigious stretch of the ego-driven imaginations of New York’s tycoon class, and Barrack, whose job was to sell it, managed to fetch $400m — more than anyone had previously paid for a single hotel.
German digital payments company Wirecard on Wednesday said all its subsidiaries were subject to regular audits, denying a Financial Times report. The FT cited whistleblowers as saying that the accounts of Wirecard's largest business, Card Systems Middle East in Dubai, were not audited in 2016 and 2017. "All subsidiaries of Wirecard, including Card Systems Middle East, are subject to regular audit procedures, including but not limited to quarterly and annual audits," the company said.
Japan's Softbank Group Corp will invest around 900 million euros (£779 million) in Wirecard in a convertible bond deal that could give it a 5.6 percent stake in the German digital payments company. The investment by the world's biggest private technology company is a vote of confidence in Wirecard's business as it defends itself against allegations of fraud, and will allow the Munich-based firm to expand its operations in Asia. Shares in Wirecard jumped 10 percent to the top of Germany's blue-chip index by 1240 GMT.
For SoftBank, the agreement furthers its transformation from a telecommunications operator into a technology investor under founder Masayoshi Son. For Wirecard, the investment means easier access to markets in Asia and a vote of confidence after months of whipsawing shares following allegations of accounting misdeeds at its Singapore unit. The deal involves a strategic partnership and a potential 5.6 percent stake at a price that’s 27 percent below Wirecard’s peak.
Shares in Twitter rose by more than 15 per cent after its revenue beat forecasts, while toymaker Hasbro jumped 14 per cent. Coca-Cola’s stock also rose, by around 2 per cent, and United Technologies, up 2.2 per cent, after their earnings updates.
World shares pared back losses on Wednesday as positive earnings in Europe from Credit Suisse and investor support for SAP helped soothe worries that China has put broader stimulus on hold. European shares crept into positive territory, with the pan-regional STOXX 600 index edging up 0.1 percent to reach its highest level since Aug. 1.
FT subscribers can click here to receive Tech Scroll Asia by email. The big news this week is a surprising bifurcation in investor attitudes toward China and south-east Asia. The bloom is coming off the China story, while in Singapore, Indonesia and elsewhere an extraordinary boom is gathering pace.
for the oil explorer, which trumped Chevron‘s bid earlier this month. Occidental’s 50-50 cash and stock offer was at a 20 per cent premium to Anadarko’s valuation based on Tuesday’s closing prices. In a letter to Anadarko’s board, Occidental said it was “surprised and disappointed” that directors had rejected its proposal in favour of Chevron’s lower offer.
Japan’s SoftBank has agreed to invest €900m in Wirecard, the German digital payments company battling an accounting scandal. SoftBank, a technology conglomerate that has become one of the sector’s biggest and most high-profile investors, will buy five-year Wirecard bonds that can convert into an equity stake in the Germany company. Under the terms of the proposed investment, the bonds will convert into a 5.6 per cent stake in Wirecard at a price of €130 a share, the German payments company said in a statement on Wednesday.
European markets gave back much of Tuesday’s gains as strong earnings elsewhere could not offset oil companies’ retreat. How did markets perform? The Stoxx 600 (XX:SXXP) was down 0.1% to 390.9, after rising 0.
World shares took a step back on Wednesday as signals that China has put broader stimulus on hold offset positive results from Credit Suisse, which kicked off the earnings season for European investment banks. European shares followed Asia lower, pulling back from eight-month highs, with the pan-regional STOXX 600 index slipping 0.4 percent.
- Proposal for a SoftBank company to invest approximately EUR 900m in Wirecard via convertible bonds - Companies to partner to unlock collaboration opportunities in digital payments, data-analytics/AI ...
European shares pulled back from eight-month highs on Wednesday as worries over China putting policy-easing measures on hold offset upbeat earnings in the region from Credit Suisse and SAP. The pan-regional STOXX 600 index was down 0.1 percent by 0732 GMT. The benchmark index has notched gains in the past eight consecutive sessions, with a trend of rebounding from a weaker open.
Internal troubles at Uber Technologies Inc. paved the way for Masa to grab a 16.3 percent stake in the world’s hottest startup last year, making SoftBank’s Vision Fund its largest shareholder. As of Tuesday’s close, the company’s shares remain 37 percent below their September peak. Each case matches Son’s wider strategy of driving a “300 year Information Revolution.” So while startups like Uber and its Southeast Asian rival Grab Holdings Inc. were obvious items on Son’s shopping list, the companies that tie them together are just as important.
The United Kingdom selects Huawei for its 5G Network, despite warnings from the U.S. In other news, Softbank bets $1 billion on payments firm Wirecard. Yahoo Finance's Oscar Williams-Grut reports to Julie Hyman and Adam Shapiro.