R3 is the blockchain software company that recently launched Corda Enterprise, a commercial distribution of their blockchain-based platform. Corda is part of the distributed ledger and blockchain platforms. R3 leads a network of over 300 entities including banks, financial institutions, regulators, associations and technology companies.
An IPO (initial public offering) is an offer to the public of the shares of a company that intends to be listed for the first time on a regulated market. Initial public offerings are generally made by a company whose capital is owned by one or more entrepreneurs, or by a small group of shareholders (e.g. institutional investors or venture capitalists), which decides to open up to a wider public of investors upon listing on the stock exchange.
R3 at the work for an IPO?
R3 would be exploring with its advisors a potential public listing. There is no certainty about the actual launch of the IPO, there’s only speculation to date. The sources report that several investors would be interested in the technology developed by R3.
However, the company has been vague in trying to silence these rumours.
“We’re not surprised about the speculation given the success of Corda, but an IPO is not a path we’re pursuing at this time. Our mission from the start was to deliver a blockchain solution for the widest possible business community, and any decision we make will have that goal in mind”.
So far, the total funding collected by the consortium amounts to about 112 million dollars according to data reported by Crunchbase. The major investors are HSBC, CLS, Bank of America Merrill Lynch, Intel and SBI Group.