UMB Financial Corp
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Financials : Banks | Small Cap Blend
Company profile

UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company's segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company's branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts. The Company's subsidiary includes UMB Fund Services, Inc. (UMBFS).

Closing Price
$47.01
Day's Change
0.00 (0.00%)
Bid
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Ask
--
B/A Size
--
Day's High
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Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
404,813
0

UPDATE: Chinese company Kingsoft Cloud's IPO raises more than half a billion dollars

6:09 am ET May 8, 2020 (MarketWatch)
Print

While the COVID-19 pandemic has largely stalled the market for initial public offerings, a Chinese cloud-computing company still managed to raise more than half a billion dollars in a U.S. IPO. Kingsoft Cloud Holdings Ltd. (KC) priced its IPO of 30 million American Depositary Shares at $17 apiece, raising $510 million at a valuation of roughly $3.7 billion. The company priced the shares at the midpoint of its suggested range of $16 to $18, and sold 5 million more shares than it was expecting earlier in the process. Kingsoft sells cloud-computing services in China, where Alibaba Group Holding Ltd. (9988.HK) and Tencent Holdings Ltd. (0700.HK) compete in the sector. It is a spin-off from Chinese software giant Kingsoft Corp. Ltd. , but calls itself an independently operated company at various times in its filings with the Securities and Exchange Commission. The company's revenue is growing, but so are its losses: While sales grew from 1.24 billion RMB ($174.5 million) to 2.22 billion RMB to 3.96 billion RMB from 2017 to 2019, losses increased from 714.3 million RMB to 1.01 billion RMB to 1.11 billion RMB. The stock is now expected to begin trading Friday morning on the Nasdaq exchange under the ticker symbol KC.

-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

May 08, 2020 06:09 ET (10:09 GMT)

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