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BAC Jan 2022 23.000 call

OPR - OPR Delayed price. Currency in USD
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8.900.00 (0.00%)
As of 3:38PM EST. Market open.
Full screen
Previous close8.90
Expiry date2022-01-21
Day's range8.51 - 8.90
Contract rangeN/A
Open interestN/A
  • Is Bank of America (BAC) Stock Outpacing Its Finance Peers This Year?

    Is Bank of America (BAC) Stock Outpacing Its Finance Peers This Year?

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  • BofA’s Middle East Equities Head to Depart After Two Decades

    BofA’s Middle East Equities Head to Depart After Two Decades

    (Bloomberg) -- Talal Ghandour, one of Bank of America Corp.’s longest-serving senior executives in the Middle East, is leaving the U.S. firm after 22 years.Ghandour, who was a Dubai-based managing director, plans to join his family business, according to an internal memo seen by Bloomberg News. He most recently led the bank’s equities unit in the Middle East and North Africa, where he helped build one of the biggest regional franchises of any Wall Street firm.Bank of America has appointed Ali Hobballah to assume overall responsibility for the MENA equities business after the departure, according to the memo. He will also continue to head trading and risk. Deepak Abraham will oversee equity distribution in the region, while Samer Sbeih will lead the MENA cash equity sales effort, reporting to Abraham, the memo shows.A representative for Bank of America confirmed the contents of the memo.Bank of America has made some changes to its leadership team in recent months as it seeks to further expand in the oil-rich region. It appointed Andree Chakhtoura to head investment banking in the Middle East and North Africa, Bloomberg News reported in March. Wadih Boueiz, the bank’s global head of sovereign wealth funds and pension investors, also left last year.The firm has advised on some of the Middle East’s largest deals, including Saudi Aramco’s record-breaking initial public offering and its $69 billion takeover of petrochemicals giant Sabic. The firm also worked with Abu Dhabi National Oil Co. last year on its sale of a $10 billion stake in its network of gas pipelines.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • ByteDance Foe Seeks $5.4 Billion in Biggest Tech IPO Since Uber

    ByteDance Foe Seeks $5.4 Billion in Biggest Tech IPO Since Uber

    (Bloomberg) -- Kuaishou Technology, the operator of China’s most popular video service after ByteDance Ltd.’s Douyin, is seeking to raise as much as $5.4 billion in the world’s biggest internet initial public offering since Uber Technologies Inc.The short video startup, backed by Tencent Holdings Ltd., is selling 365 million shares at HK$105 to HK$115 each, according to terms of the deal obtained by Bloomberg News. The company will start taking investor orders from Monday through Jan. 29 and is slated to list on Feb. 5 in Hong Kong.Kuaishou is attempting the world’s biggest internet IPO since Uber’s $8.1 billion U.S. share sale in May 2019, according to data compiled by Bloomberg. The Chinese startup’s IPO will also give another boost to Hong Kong’s already-hot capital market and could become Asia’s largest since Budweiser Brewing Co. APAC Ltd.’s $5.8 billion float almost two years ago.Kuaishou, which means “fast hand,” is one of China’s biggest internet success stories of the past decade, part of a generation of startups that thrived with backing from Tencent. Along with TikTok parent ByteDance, the outfit co-created by Su Hua in 2013 pioneered the live streaming and bite-sized video format that’s since been adopted around the world by the likes of Facebook Inc. Kuaishou’s imminent debut could test investor appetite for its far larger rival, which was last valued at $180 billion.Tencent and IPO advisor China Renaissance Holdings Ltd. surged in Hong Kong, suggesting enthusiasm for its upcoming debut. On Monday, Kuaishou executives revealed monthly active users on its main app had reached 481.4 million while average daily time spent had crossed the 100-minute mark in 2021. Co-founder Su emphasized his company was pursuing future growth by applying its popular video formats to a range of online services like shopping.“We are exploring live-streaming in local life services and knowledge sharing,” the 38-year-old former Google engineer told investors on a conference call. “We’ll also try to use short videos and live-streaming, both based on the fan-host relationship, to transform one industry after another. That’s a driving force for our future growth.”Read more: ByteDance Seeks Funds at $180 Billion Value Before IPO of AssetsThe offering of Kuaishou has attracted 10 cornerstone investors, who agreed to subscribe for $2.45 billion of stock, based on the mid-point of the marketed range. The lineup includes The Capital Group, Temasek Holdings Pte, GIC Pte, BlackRock Inc. and Abu Dhabi Investment Authority, the terms show, confirming an earlier Bloomberg News report. The cornerstone investors have agreed to hold stock for six months in exchange for early, guaranteed allocation.The valuation of Kuaishou could more than double after its Hong Kong IPO. A top-end pricing will value the Chinese firm at $60.9 billion, up from the $28.6 billion it achieved in a funding round last year, according to Pitchbook. Even at the low end of the range, Kuaishou will still be valued at $55.6 billion.ByteDance has long been a rumored IPO candidate but was bogged down last year in fighting a U.S. ban on TikTok after the video service was labeled a national security threat. The social media giant was in discussions to raise $2 billion before listing some of its businesses in Hong Kong, Bloomberg News reported in November.Kuaishou had about 262 million average daily active users as of September, according to its prospectus. That’s still less than half the 600 million on Douyin, the Chinese version of TikTok. That said, Kuaishou’s revenues climbed 49% to 40.7 billion yuan ($6.3 billion) in the first nine months of last year, after it ratcheted up monetization efforts through advertising and e-commerce. While it offers free access to its main platform, the startup takes a cut of the tips users give to their favorite live-streamers who perform viral challenges, lip-synch to the latest pop songs and play video games.Tencent has about a 21.6% stake in Kuaishou, and other backers include venture capital firms DCM, DST Global and Sequoia Capital China, the prospectus shows. Shares in Tencent jumped 11% and closed at an all-time high on Monday in Hong Kong.Morgan Stanley, Bank of America Corp. and China Renaissance are joint sponsors of the deal.(Updates Tencent’s shares to closing level in 11th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.