Another Canadian biotech IPO expected this week on Nasdaq as Fusion Pharmaceuticals looks to raise more than $150-million: Hamilton’s Fusion Pharmaceuticals Inc. is set to go public as early as this week after setting an initial price range for its Nasdaq offering on Monday that would see the company raise as much as US$153-million. (Sean Silcoff)
The €1.9-billion Wirecard scandal marks a failure for German financial regulation: Europe has few big-name fintech stars. That game was left to the Americans. But one European company was becoming a contender – Wirecard. Turns out short-sellers and various newspapers who had questioned Wirecard’s legitimacy for years were right. Wirecard dropped a bombshell when it revealed a €1.9-billion black hole in its balance sheet and said its auditor, EY, couldn’t trace the money. (Eric Reguly)
Scotiabank sells Belize operations as it continues to divest holdings: Bank of Nova Scotia is selling its operations in Belize, the latest in a string of Caribbean and Central American divestments as the bank narrows its international focus and redeploys capital toward its core Latin American markets. (Mark Rendell)
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