Monday, October 13, 2025
  • Home
  • About Us
  • Advertise
  • Contact Us
  • Our Team
  • Privacy Policy
Why Save Today
  • Home
  • Business
  • Investment
  • Insurance
  • financial News
  • Personal finance
  • Real Estate
No Result
View All Result
Why Save Today
  • Home
  • Business
  • Investment
  • Insurance
  • financial News
  • Personal finance
  • Real Estate
No Result
View All Result
Why Save Today
No Result
View All Result

Triller is lastly a publicly traded firm: TikTok rival’s share worth drops 20% on first day of buying and selling

whysavetoday by whysavetoday
October 17, 2024
in Business
0
Triller is lastly a publicly traded firm: TikTok rival’s share worth drops 20% on first day of buying and selling
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter


After a sequence of earlier makes an attempt that didn’t pan out, TikTok rival Triller is lastly a publicly traded firm.

Having accomplished a merger with Hong Kong-focused monetary companies firm AGBA, the brand new Triller Group Inc. debuted on the NASDAQ alternate on Wednesday (October 16).

As of mid-day Jap time, Triller Group’s inventory (ticker image ILLR) was buying and selling at $4.45 per share, down about 20% from its opening worth of $5.60. Shares had spiked on opening to as excessive as $6.52 earlier than pulling again.

Its present share worth provides Triller Group a market capitalization of round $705 million – nicely wanting the $4 billion that Triller and AGBA focused once they introduced the merger final spring.

The brand new Triller Group operates two most important companies: Triller Corp. and AGBA Group Holding Restricted.

Underneath the phrases of the all-stock merger, Triller shareholders obtained 70% of the mixed firm’s excellent frequent inventory, whereas AGBA shareholders obtained 30%.

The itemizing marks the end result of a number of years of efforts by Triller to go public, which included a proposed SPAC merger with SeaChange Worldwide, focusing on an preliminary valuation of $5 billion, in 2022.

When that fell by way of, the corporate then aimed for a direct itemizing, in what it mentioned can be “the most important creator IPO in historical past.”

That, too, did not materialize, and the corporate launched yet one more bid in 2023 earlier than asserting the AGBA merger in April 2024.

Underneath the plan introduced at the moment, Triller co-founder Bobby Sarnevesht was slated to function CEO of Triller Corp., whereas Bob Diamond would function Group Chairman and AGBA Chairman Wing-Fai Ng was slated to be Group CEO. Extra lately, the businesses introduced that Sarnevesht would additionally function a Director of the merged firm.

In a press release on Tuesday, Triller Group mentioned it will reveal particulars about “future management, technique and goals” on October 22.

Each of the companies that comprise Triller Group confirmed indicators of economic pressure previous to the merger.

AGBA, a Hong Kong-focused monetary companies firm that claims 400,000 prospects, reported a 55.8% YoY drop in revenues within the first half of 2024, pushed by a steep drop in commissions, which it attributed to “the financial recession [in China] and outward migration in Hong Kong.”

Within the years earlier than the merger, Triller was hit with a sequence of lawsuits over non-payment of licensing charges for music on its platform, together with a 2022 swimsuit from Sony Music, accusing the corporate of utilizing “tens of millions of {dollars}” of music with out authorization. That swimsuit was settled in 2023, however Triller then confronted one other lawsuit, this one from Common Music Group over allegedly unpaid music licensing charges.

In an SEC submitting earlier this yr, prematurely of its deliberate IPO, Triller revealed that it owed music rightsholders $23.6 million in unpaid charges. The corporate, which had raised greater than $420 million from buyers, had lower than $1 million in money and money equivalents available.

As a part of the merger plan agreed to by shareholders in September, Triller Group has put aside 50 million shares of the corporate to be “utilized towards future settlement of sure Triller authorized and monetary obligations.”

On the present market worth, these shares are price $222.5 million.Music Enterprise Worldwide

Share via:

  • Facebook
  • Twitter
  • LinkedIn
  • More
Tags: companyDaydropsfinallyPricepubliclyrivalsShareTikToktradedTradingTriller
Previous Post

How Talking To A Monetary Skilled Saved Me From Myself

Next Post

Sure, You Can “Brief-Time period” Hire Your FHA Property—However You Have to Lengthen the Timeline

Next Post
Sure, You Can “Brief-Time period” Hire Your FHA Property—However You Have to Lengthen the Timeline

Sure, You Can "Brief-Time period" Hire Your FHA Property—However You Have to Lengthen the Timeline

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular News

  • Path Act 2025 Tax Refund Dates

    Path Act 2025 Tax Refund Dates

    403 shares
    Share 161 Tweet 101
  • Pupil Loans And Furloughs: What to Do Now

    402 shares
    Share 161 Tweet 101
  • Sure, You Can “Brief-Time period” Hire Your FHA Property—However You Have to Lengthen the Timeline

    400 shares
    Share 160 Tweet 100
  • Query of the Day [Black History Month]: What Black-owned media firm grew to become the primary to be publicly traded on the New York Inventory Alternate?

    400 shares
    Share 160 Tweet 100
  • 4 cuts: Aus financial institution’s enormous transfer earlier than RBA

    400 shares
    Share 160 Tweet 100

About Us

At Why Save Today, we are dedicated to bringing you the latest insights and trends in the world of finance, investment, and business. Our mission is to empower our readers with the knowledge and tools they need to make informed financial decisions, achieve their investment goals, and stay ahead in the ever-evolving business landscape.

Category

  • Business
  • financial News
  • Insurance
  • Investment
  • Personal finance
  • Real Estate

Recent Post

  • Turkey seen taking part in double post-war function
  • Right here's one technique to enhance the dimensions of your home with out shifting
  • Finest SAT Take a look at Prep Programs [In Person And Online]
  • Home
  • About Us
  • Advertise
  • Contact Us
  • Our Team
  • Privacy Policy

© 2024 whysavetoday.com. All rights reserved

No Result
View All Result
  • Home
  • Business
  • Investment
  • Insurance
  • financial News
  • Personal finance
  • Real Estate

© 2024 whysavetoday.com. All rights reserved

  • Facebook
  • Twitter
  • LinkedIn
  • More Networks
Share via
Facebook
X (Twitter)
LinkedIn
Mix
Email
Print
Copy Link
Copy link
CopyCopied