E-cigarette maker NJOY hires bankers for possible sale - WSJ

Industry Insight by Nasdaq
Jul.20.2022
E-cigarette maker NJOY Holdings Inc has hired bankers for a possible sale of the company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Adds details from the report, background

E-cigarette maker NJOY hires bankers for possible sale - WSJ

July 19 (Reuters) - E-cigarette maker NJOY Holdings Inc has hired bankers for a possible sale of the company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

 

The report added the privately held NJOY is likely to be valued at up to $5 billion, according to the sources who cautioned the process was still at an early stage and there was no guarantee a deal would materialize. (https://on.wsj.com/3PHG41Y)

 

If NJOY does not receive a high enough valuation, the company could raise money and stay private, potentially paving the way for a future initial public offering, the Wall Street Journal said.

 

The e-cigarette maker is simultaneously exploring a new fundraising round and aims to raise between $300 million and $500 million, the report added.

 

 

NJOY and Mudrick Capital Management, a majority owner of the company, did not immediately respond to a Reuters request for comment.

 

Late June, Bernstein analyst Callum Elliott wrote in a note that Altria could try to buy privately owned NJOY, which has already succeeded with its PMTA (Premarket Tobacco Product Application) process applications.

 

Rival Juul Labs Inc said on Friday it was in the early stages of exploring several options, including financing alternatives, as the company deals with lawsuits and a probable ban on sales of its e-cigarettes by U.S. health regulators.

 

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra Eluri)

 

The content excerpted or reproduced in this article comes from a third-party, and the copyright belongs to the original media and author. If any infringement is found, please contact us to delete it. Any entity or individual wishing to forward the information, please contact the author and refrain from forwarding directly from here.

Korea Consumer Forum: Heated tobacco device "Lil" wins 2025 Brand of the Year Award
Korea Consumer Forum: Heated tobacco device "Lil" wins 2025 Brand of the Year Award
KT&G's "Lil" heated tobacco brand wins Korea's "2025 Brand Award" for 8 years, introduces new "RAIIM" stick at lower price.
Sep.04 by 2FIRSTS.ai
Product | VAPORESSO and DOJO Launch iMate Series: A Dual-Compatible Platform for Open-System and Disposable Devices
Product | VAPORESSO and DOJO Launch iMate Series: A Dual-Compatible Platform for Open-System and Disposable Devices
VAPORESSO and DOJO introduced their jointly launched “iMate” as the world’s first fully compatible platform across all product categories. The two brands have respectively released the open-system iMate OS and the disposable iMate X 40K. A key highlight is that all iMate series products are compatible with the same display screen.
Jul.29 by 2FIRSTS.ai
Imperial Tobacco Canada announced the completion of settlement litigation, warning that the black market for tobacco could impact compensation funds
Imperial Tobacco Canada announced the completion of settlement litigation, warning that the black market for tobacco could impact compensation funds
Imperial Tobacco Canada announced the end of all related litigation as the court-approved settlement plan took effect. The company warned that Canada’s illegal tobacco market, now over 30% of total sales and growing, threatens the compensation plan’s sustainability. Legal sales revenues are crucial for funding annual payments to claimants.
Sep.01 by 2FIRSTS.ai
Malaysian suspect in illegal e-cigarette trade case in Singapore to appear in court next week for charges including fraud and obstruction of justice
Malaysian suspect in illegal e-cigarette trade case in Singapore to appear in court next week for charges including fraud and obstruction of justice
Malaysian suspect accused of illegal e-cigarette trading in Singapore to face court next week for fraud and obstruction charges.
Sep.15 by 2FIRSTS.ai
Singapore's Woodlands Checkpoint Seizes Over 5,900 Vaping Products; Case Referred for Investigation
Singapore's Woodlands Checkpoint Seizes Over 5,900 Vaping Products; Case Referred for Investigation
On July 24, Singapore’s Immigration & Checkpoints Authority (ICA) conducted an enhanced inspection of a Malaysia-registered vehicle at Woodlands Checkpoint and uncovered more than 5,900 e-cigarettes and related components, along with 150 heat-not-burn tobacco sticks concealed in multiple compartments. The case has been handed over to the Health Sciences Authority for further investigation, thwarting the smuggling attempt.
Aug.06 by 2FIRSTS.ai
Malaysia’s Health Minister Datuk Seri Dr Dzulkefly: Nearly 44,500 Students Used Cigarettes or Vapes in 2024
Malaysia’s Health Minister Datuk Seri Dr Dzulkefly: Nearly 44,500 Students Used Cigarettes or Vapes in 2024
Malaysia’s Health Minister Datuk Seri Dr Dzulkefly Ahmad reported that 44,441 students—44,211 secondary and 230 primary—were identified as users of smoking products in 2024 through the Oral Health Without Smoking Practices Programme. The Health Ministry cited ongoing cessation support via 857 clinics and the JomQuit digital platform, with 4,916 adults successfully quitting after setting a quit date last year.
Sep.10