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  • Why is First Data so important? Why is this company worth so much?

    為什麼第一數據公司這麼重要?為什麼這家公司這麼值錢?

  • It's important for a few reasons. This is KKR's biggest equity bet ever.

    會如此重要有幾個原因,這是KKR集團最大的產權投資標的。

  • This company was taken private back in 2007, as you said, in that era of big LBOs.

    這家公司在2007年,也就是融資收購的高峰期間被收購回歸股份私有。

  • And they struggled through the recession; they replaced the CEO several times; finally brought in this guy called Mr. Fix-It on Wall street Frank Bisignano.

    他們也在經濟大蕭條期間飽受挑戰,歷經了多次的執行長汰換,終於換上了在華爾街有疑難排解大師之稱的Frank Bisignano。

  • And he has been in control since 2013. Now KKR is looking to make some money back on their investment.

    他自2013年開始接管公司,而此刻KKR集團對這項投資帶來的報酬的利潤抱持著信心與期待。

  • They put into 3.9 billion dollars in equity. Right now, as of the price range that came out this morning

    他們投資了39億的股票。今早市場行情達高峰,

  • at the high end of the range, their stake is looking to be about 5.3 billion.

    他們的股權現值上看53億。

  • So on the surface, it looks like they're winning here on this one, but that's kind of the stage here for how big of a bet this is for KKR,

    表面上看來,KKR集團在這項投資中贏面相當大,然而同時也看出他們在這局中的賭注有多麼龐大。

  • and how much is riding on this IPO pricing and trading while going forward.

    以及在公司邁向市場的同時,背後的首次公開募股定價與交易是多麼龐大。

  • It's interesting, you know, as we've seen all this market volatility, companies are still going public this year,

    這十分地有趣,我們都知道這陣子的市場波動狀況,然而今年度公司仍持續上市其股份。

  • Jay, curious what other companies out there are at this level that have been going public this year?

    杰,為什麼其他公司在今年這樣的現況下仍持續上市股票嗎?

  • There are a number of big deals in the pipeline with some well-known brand names, Ferrari, Albertens, Neiman Marcus,

    這一票公司名單中有很多都是廣為人知的公司,像是法拉利、Albertens 、尼曼馬庫斯百貨,

  • as well as companies without real popular brand names, such as Pure Storage, but we're seeing a slowdown in bio-tech activity,

    以及其他名聲不那麼大的公司,如 Pure Storage 科技公司。但在生物科技方面我們也看到了成長趨緩的現象。

  • with the decrease in bio-tech prices and energy offerings have largely dried up.

    包括生物科技產值下降與能源供應大幅銳減。

  • So Alex, I know you've been crunching the numbers, flush that out for me in terms of the biggest IPO so far this year,

    艾力克斯,我知道你相當善於精算與會計,能否列出今年目前最大宗的首次公開募股案例,

  • when it comes to, you know, general and tech focus.

    並從一般大眾的觀點以及專業觀點來分析。

  • So the biggest is looking to be First Data, if they price at the high end of this range at 3.2 billion dollars for the offering,

    最大宗的莫過於第一數據公司,假若他們最高市值達32億元,

  • that will top the charts in what's been a slower year for IPOs.

    將在這成長緩慢的公開股票市場中創下新高。

  • Close behind is Digicel which has set terms. That's a Carribean Tell Co. company that's majority owned by the billionaire Dennis O'Brien.

    望其項背的是 Digicel ,為加勒比海一帶的電信公司,絕大多數股份由億萬富翁丹尼斯所持有。

  • He's an Irish billionaire. That offering size is looking to be about 2 billion.

    Dennis O'Brien 是愛爾蘭裔,發行規模上看兩億元。

  • There are some other companies in the mix: Tallgrass Energy, Univar, Blue Buffalo, and Fitbit,

    這一票公司還包含了 Tallgrass Energy, Univar, Blue Buffalo 以及 Fitbit 等,

  • that kind of are behind those two names.

    都是緊追在前兩名之後的公司。

  • But as you can tell, not as big of the year as last year, we did have Alibaba in the third quarter of last year,

    如你所見,今年的成長不如去年,像去年第三季阿里巴巴出現了

  • and that 25 billion-dollar offering really tip the charts to make it a hard comp(etition) for 2015.

    高達約250億的出售額對今年來說是個很大的挑戰。

  • Now, Jay you mentioned Pure Storage, they're looking at an IPO next week. 450 million dollars.

    杰,你剛提到 Pure Storage 公司,他們下週的公開募股出售額預計達4億五千萬元。

  • Talk to us about what's coming up for the rest of the year. We were talking about square earlier in the show.

    稍早我們在節目中提到倫敦金融城,你認為下一年會有什麼樣的市場發展?

  • It all depends upon what happens with the stock market, as many people have noted,

    這端看未來的股票市場會如何發展,如大家所說

  • a lot of tech companies have been finding it very easy to get a lot of private financing,

    很多的科技公司認為取得私人融資是相對容易的,

  • not only from venture capitalist, but also from neutral funds that are willing to invest in private companies.

    像是股票投機客及中立基金都相當樂於投資在私人企業上

  • So I think they're gonna be very sensitive to public market valuations.

    因此我認為公開市場評價將對此有影響

  • If the stock market goes up, then they'll tap the public equity markets.

    若股票市場正向成長,將會同時開啟公開資產市場。

  • And if not, a lot of them will buy their time.

    若沒有呈正向成長,很大一部分的投資客便會爭取時間。

Why is First Data so important? Why is this company worth so much?

為什麼第一數據公司這麼重要?為什麼這家公司這麼值錢?

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