$478M

Finweek English Edition - - IN BRIEF - Fi­nan­cial Times Fi­nan­cial Times

The amount (R5.9bn) Fit­bit and some of its ex­ist­ing share­hold­ers hope to raise in an ini­tial public of­fer­ing (IPO) as com­pe­ti­tion in the wear­able tech­nol­ogy space, which in­cludes ri­vals like Sam­sung and Ap­ple, heats up. The IPO could value Fit­bit at more than $3bn (R36.8bn), re­ported. The list­ings mar­ket has slowed dramatically this year, with US-listed IPOs to­talling less than $15bn in the year to date, the slow­est pace since 2010, said.

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