Babylon chief Ali Parsa will have a 26pc stake
Credit: Eddie Mulholland/Telegraph
The founder of the virtual doctor app Babylon is set to join the ranks of Britain’s technology billionaires after the company announced a $4.2bn (£3bn) US listing.
Ali Parsa, who founded Chelsea-based Babylon in 2013, is set to own a 26pc stake in the company, worth $1.1bn, when it completes a reverse merger with Alkuri Global, a New York-listed blank cheque company.
It makes Babylon the latest UK tech start-up to shun the London Stock Exchange in favour of a “Spac” listing in America, where technology companies say they can achieve higher valuations.
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Rich List garbo-turned-yacht broker Ian Malouf has joined the crush of prominent eastern suburbs families on Palm Beach’s Snapperman Beach, buying a weekend getaway for about $20 million.
The beachfront house in the exclusive Sydney suburb has long been owned by the McNiven family, bought in 1997 for $2.06 million and held by late businessman John McNiven until recently, when Malouf negotiated to buy it directly.
Malouf declined to comment on the purchase, saying that he didn’t know that information was out yet, and settlement would reveal the price.
Palm Beach’s Snapperman Beach is crammed full of holiday goers from the eastern suburbs, including the most recent arrival, Ian Malouf.
Nio sales up 95% in May chinadaily.com.cn | Updated: 2021-06-01 17:17 The Nio ES6, an all-electric, mid-size sport utility vehicle manufactured by Chinese electric-vehicle maker Nio, is on display at a store in Beijing on Jan 9. [Photo provided to China Daily]
Chinese leading electric car startup Nio said on Tuesday that it delivered 6,711 vehicles in May, up 95.3 percent from the same month last year.
The cumulative deliveries of the New York-listed startup s three models reached 109,514 vehicles by the end of last month.
Nio said its deliveries in May was affected by chip shortages and logistical adjustments, but it will accelerate vehicle delivery in June to make up for the delay caused last month.
Credit: MedicSetu
Another initiative to provide free virtual home care for COVID-19 patients was launched in India last week.
India s Ministry of Electronics and Information Technology (MeitY) has joined forces with New York-listed tech firm Avaya and other groups to launch MedicSetu, a non-profit initiative providing online health consultations for patients under home quarantine.
WHY IT MATTERS
According to a press statement, MedicSetu aims to raise patient access to health care services while easing the burden on stretched resources at healthcare institutions . India is still battling an overwhelming second wave of COVID-19 infections which pushed its case count to over 28 million with around 326,000 deaths as of end-May, according to data from the Johns Hopkins Coronavirus Resource Center.
By Evelyn Cheng, CNBC •
Updated 1 hour ago
GREG BAKER | AFP | Getty Images
In less than 12 months, JD.com s secondary offering and listings of subsidiaries have raised more than $10 billion.
Bank of America was the only investment bank to participate in every single listing, according to public filings.
BEIJING In less than a year, Chinese e-commerce giant JD.com has raised more than $10 billion through public offerings in Hong Kong and New York.
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The listings involved JD s subsidiaries and its own secondary stock offering in Hong Kong. Bank of America was the only investment bank to participate in every single listing, according to public filings.