Philippines Approves Clinical Trial for Janssen Vaccine

SAP’s Qualtrics Files For U.S. IPO

Qualtrics International Inc. has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission to raise up to $100 million in an initial public offering of common shares.

Qualtrics has filed the initial public offerings, just about two years after it was acquired by German software giant SAP SE (SAP).

Qualtrics disclosed in the filling that it anticipates that the initial public offering price will be between $20.00 and $24.00 per share. It would reportedly value the company between $12 billion and $14.4 billion.

Qualtrics said it has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol “XM.”

SAP noted that it will retain a controlling stake in Qualtrics following the planned IPO.

SAP said in July 2020 that it planned to take its experience management software company Qualtrics public through an initial public offering in the United State.

SAP said in November 2018 that it had agreed to acquire Qualtrics International Inc. for $8 billion in cash.

Utah-based Qualtrics in October 2018 had filed for an initial public offering, aiming to raise about $200 million.

India-dedicated funds pulled out $9.1 billion till November

Assets under management of India-dedicated funds have slid 20 per cent in the year to November to $35.2 billion.

India-dedicated funds saw outflows to the tune of $317 million in November, taking total outflows in CY20 until then to $9.1 billion, the EPFR data compiled by Kotak Institutional Equities showed.

Global emerging market (GEM) funds saw inflows of $718 million, paring the CY20 outflows of such funds to about $1.9 billion.

Inflows from India-dedicated, GEM, and other categories of funds in November totalled $1.2 billion and $10.4 billion in CY20.

Assets under management (AUM) of India-dedicated funds have slid 20 per cent in the year to November to $35.2 billion.

AUM of GEMs have surged 20 per cent to $97.9 billion.

The EPFR fund-flow data primarily tracks mutual funds, ETFs, closed-end funds, variable annuity funds, and insurance-linked funds.

It does not include investments from hedge funds, proprietary desks, and sovereign wealth funds, which are tracked by NSDL.

The overall allocation to India by Asia ex-Japan funds increased to 11.1 per cent in November from 10.4 per cent in October, while that by GEM funds increased to 9.8 per cent from 9.4 per cent in the same period.

Financials witnessed heavy buying in November, with inflows of $3.9 billion, followed by industrials ($970 million).

MEDIROM Healthcare Prices IPO Of 800,000 ADSs At $15.00/ADS

MEDIROM Healthcare Technologies Inc. (MRM) said that it has priced its initial public offering of 800,000 American Depositary Shares at a price of US$15.00 per ADS. Each ADS represents one common share of MEDIROM.

The ADSs are expected to begin trading on the Nasdaq Capital Market on December 29, 2020, under the symbol “MRM.”

The company expects that gross proceeds before deducting underwriting discounts and commissions and other offering expenses expected to be US$12.0 million.

The closing of the offering is expected to occur on December 31, 2020.

In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 120,000 ADSs at the public offering price, less underwriting discounts and commissions to cover over-allotments, if any.

The company said it plans to use the net proceeds from the offering for working capital and general corporate purposes, which may include investments, acquisition or strategic collaborations to expand its customer base as well as develop and market new services.

Apple Plans Autonomous Car Production By 2024 With Own Next Level Battery: Reuters

Apple Inc. is planning to produce a self-driving passenger vehicle by 2024 supported by its own breakthrough “next level” battery technology, Reuters reported citing people familiar with the matter.

However, delays due to the Coronavirus pandemic could push the start of production into 2025 or beyond.

The tech major plans a new battery design that could significantly cut the cost of batteries and increase the vehicle’s range. Apple plans to use a unique monocell design, which would pack more active material inside the battery, giving the car a potentially longer range.

The company, whose automotive efforts known as Project Titan started in 2014, now aims to build a personal vehicle for consumers, unlike major rivals, who have built vehicles for a driverless ride-hailing service.

As per the report, the company has decided to hire outside partners for elements of the system, including lidar sensors with which self-driving cars get a three-dimensional view of the road. There may be multiple lidar sensors in Apple’s car for scanning different distances.

Apple’s recently launched iPhone 12 Pro and iPad Pro models both feature lidar sensors.

Philippines Approves Clinical Trial for Janssen Vaccine

The Philippines has approvedJanssen Pharmaceuticals Inc.’s application to conduct a clinical trial of its coronavirus vaccine in the Southeast Asian nation.

“In the next few weeks, we will be able to begin clinical trials,” Food and Drug Administration Director General Eric Domingo said in a press briefing Tuesday. The trial applications of Chinese firmsSinovac Biotech Ltd. andSichuan Clover Biopharmaceuticals Inc. are still under review, he said.

Pfizer Inc.’s vaccine is under review for emergency use, Domingo said.