A Zoom rival gets a first-day pop; Sanofi goofs; coal gets a bit closer to the endgame; and shareholder rights get a slap. Catch up with the latest insights from Breakingviews here
on Thursday. Shares in the company led by Odd Sverre Ostlie rose 43%, valuing it at almost $900 million. Despite this vertiginous rise, however, the group’s enterprise value of 18 times 2019 revenue is well below the roughly 75 times multiple at which better-known U.S. peer Zoom trades.
. Still, Pexip’s Ostlie won’t care much, having managed to bag a handy $235 million from investors in the middle of a global crisis. A possible cure for Covid-19 has turned into a publicity millstone around the neck of Paul Hudson. The boss of $121 billion French pharma giant Sanofi has been summoned by President Emmanuel Macron after comments implying the U.S. government – with whom the company has a research partnership – could get first dibs on any treatment.
it would only seek to recover its costs from any cure. Hudson concurring is one way to appease Macron. the U.S. Energy Information Administration. That’d be a year ahead of schedule – and it’s all down to the pandemic. Overall, U.S. electricity generation is likely to fall 5% this year as lockdowns reduce demand, the EIA estimates. But coal-fired power will drop by a quarter.
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