Company Brief: Zoom


Zoom Video Communications is raising US$1.75 billion (S$2.3 billion) through a stock offering, capitalising on enduring demand for the videoconferencing platform during the pandemic.

It is selling about 5.15 million shares at US$340 apiece, representing a 4.7 per cent discount to its last close, it said on Tuesday. The offering is expected to close on or about Jan 15.

JPMorgan Chase & Co is the sole bookrunner.


Affirm Holdings

The GIC-backed lender, which provides instalment loans to online shoppers, has priced its United States initial public offering (IPO) above its marketed range to raise US$1.2 billion (S$1.6 billion).

Affirm sold 24.6 million shares for US$49 each, according to Bloomberg. The San Francisco-based company had marketed the shares for US$41 to US$44 apiece, a range that it raised on Monday from US$33 to US$38.

The IPO was the first major US tech listing this year.


Aspen Holdings

The company's new glove-making venture will produce US$100 million (S$132 million) worth of medical-grade examination gloves for an unnamed third-party distributor.

The agreement is for the offtake of the entire 2021 production of Aspen unit Aspen Glove, it said yesterday. This amounts to an estimated one billion pieces of gloves to be produced from May 1 to Dec 31 this year.

The US$100 million sales value is based on average selling prices of US$100 per 1,000 pieces of gloves.


A version of this article appeared in the print edition of The Straits Times on January 14, 2021, with the headline 'Company Brief: Zoom'. Subscribe