Oura pulls $15bn stock market listing days after announcement
Summary
Oura, a company that makes smart rings to track health, has delayed its plan to sell shares on the U.S. stock market. The company decided to pause the process due to uncertainty in the market for new public offerings and has not announced when it will try again.Key Facts
- Oura planned a public offering that would value the company at $15 billion.
- The company wanted to raise up to $2.2 billion by selling shares.
- They postponed the IPO because the market is uncertain and challenging right now.
- Rising energy costs, military conflicts, trade issues, and inflation have made investors wary.
- The U.S. Federal Reserve has raised interest rates recently, affecting the market.
- Oura made a $23.5 million profit on $907.8 million in sales last year, and $70 million profit on $1.2 billion sales in the first nine months of this year.
- The company is facing a lawsuit claiming its sleep tracking is inaccurate, but Oura denies this and says their technology is sound.
- Oura was not connected the lawsuit reason for delaying the IPO.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
