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Shares of Travelocity owner Sabre rise in debut

(Reuters) - Shares of Sabre Corp <SABR.O>, the airline ticketing technology provider that also owns online travel agency Travelocity, rose as much as 7 percent in their market debut after the company sold fewer shares than expected in its initial public offering and priced them below the targeted range. China's Weibo Corp <WB.O>, which is set to start trading later on Thursday, has also cut the size of its IPO and priced shares at the lower end of the expected range.

Initial public offerings scheduled to debut next week

NEW YORK, N.Y. - The following is a list of initial public offerings planned for the coming week. Sources include Renaissance Capital, Greenwich, CT (www.renaissancecapital.com) and SEC filings. Week of April 21-25: There are no new IPOs scheduled this week. Those listed were previously scheduled and did not price.

U.S. IRS may restart energy partnership approvals in May

WASHINGTON (Reuters) - The U.S. Internal Revenue Service could resume issuing key tax approvals in May for energy companies that need certainty from the IRS about their favorable tax status as master limited partnerships before going public, lawyers and industry professionals said on Wednesday. Last week, the IRS said it had temporarily stopped issuing private letter rulings for publicly traded partnerships, including master limited partnerships or MLPs, to consider changing its procedures.

China IPOs may restart earlier than expected - sources

By David Lin and Gabriel Wildau SHANGHAI (Reuters) - China's securities regulator has ordered underwriters to update application materials for firms waiting to list, sources told Reuters on Wednesday, raising hopes that an eight-week stall in initial public offerings on mainland China stock exchanges will end soon.

Cash-rich global firms face calls to crack open war chests

Impatient shareholders are calling on the world's top firms to start spending some of the eye-popping $2.8 trillion in cash built up since the financial crisis, as analysts warn that their thriftiness could be holding back global growth. The combined war chests held by companies including Apple, Google and Samsung -- roughly equivalent to the size of France's economy -- has swelled since the 2008 global downturn hammered stock markets and saw nervous firms pinching their pennies as they waited out the storm.

China IPOs may restart earlier than expected: paper

SHANGHAI (Reuters) - Initial public offerings (IPO) on China's mainland stock exchanges may restart sooner than expected, state media reported on Wednesday, after the securities regulator ordered underwriters to update application material for firms waiting to list. The China Securities Regulatory Commission (CSRSC) has told underwriters to complete their submissions of revised disclosure materials as early as the end of this week, the official Shanghai Securities News reported, citing multiple unnamed investment bankers.

Lumenpulse shares close 15 per cent higher after $100M initial public offering

MONTREAL - Shares in Lumenpulse Inc. (TSX:LMP) climbed about 15 per cent in their first trading following the Montreal lighting company's public debut Tuesday on the Toronto Stock Exchange. The company, which designs, manufactures and sells LED lighting solutions, set an IPO price of $16 a share. Lumenpulse shares closed up $2.35 at $18.35 after rising as high as $18.90 earlier in the day. Lumenpulse's public offering included 6.25 million shares, plus up to 937,500 additional shares if the underwriters exercise their over-allotment options in full.

Aaron's buys Progressive Finance for $700M, says it rejected takeover offer, cuts outlook

ATLANTA - Furniture leasing company Aaron's has agreed to buy online rent-to-own finance company Progressive Finance Holdings for $700 million in cash in a bid to turn around its business even as it cut its first-quarter outlook. Meanwhile, Aaron's also said it rejected a takeover offer from Vintage Capital Management, its second largest shareholder, for $30.50 per share, a 1 per cent premium on the stock's closing price Monday. Aaron's says the offer is not in the best interest of shareholders.

Business Highlights

___ US retail sales up strong 1.1 per cent in March WASHINGTON (AP) — U.S. retail sales in March rose by the largest amount in 18 months, led by strong gains in sales of autos, furniture and a number of other products. The 1.1 per cent jump reported by the Commerce Department on Monday was the best showing since September 2012. The government also revised February to a 0.7 per cent gain, more than double its previous estimate. Sales had fallen in January and December.

Twitter founders, CEO to keep shares after 'lockup'

Twitter co-founders Jack Dorsey and Evan Williams and chief executive Dick Costolo have no short-term plans to sell their shares in the social network, according to documents released Monday. A regulatory filing by Twitter said the three major shareholders "have informed us that they have no current plans to sell any of their shares of Twitter common stock." The news comes weeks ahead of the so-called lockup expiration on May 5, the date after which insiders would be allowed to sell holdings following Twitter's initial public offering last year.
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