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

Industry Insight
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.

Russian consumer group urges Kremlin administration to reject regional vape sales bans
Russian consumer group urges Kremlin administration to reject regional vape sales bans
A Russian consumer organization has urged the Presidential Administration to block proposals that would let regions ban ENDS and e-liquid sales, warning it would create fragmented regulation and turbocharge the illicit market. The group cites WHO statistics and overseas experiences to argue for a more targeted regulatory model.
Feb.06 by 2FIRSTS.ai
Pakistan Senate bill seeks strict control of vapes and e-cigarettes in Islamabad, including under-18 sales ban
Pakistan Senate bill seeks strict control of vapes and e-cigarettes in Islamabad, including under-18 sales ban
Following approval by the Senate Standing Committee on National Health Services, the Electronic Nicotine Delivery Systems (Regulation) Bill is set to be tabled in the Senate to impose strict controls on the sale, marketing and use of vapes and e-cigarettes in Islamabad.
Jan.08 by 2FIRSTS.ai
Kansas Lawmakers Hear SB 355 to License E-Cigarette Makers, Citing Illicit China Imports
Kansas Lawmakers Hear SB 355 to License E-Cigarette Makers, Citing Illicit China Imports
Kansas lawmakers held a Senate committee hearing on Senate Bill 355 on Jan. 27. The proposal would require e-cigarette manufacturers—potentially affecting distributors as well—to obtain a state license, expanding oversight beyond retailers.
Jan.28 by 2FIRSTS.ai
Azerbaijan’s Milli Majlis to hold public hearings on e-cigarette use in the 2026 spring session
Azerbaijan’s Milli Majlis to hold public hearings on e-cigarette use in the 2026 spring session
Azerbaijan’s Milli Majlis will hold public hearings regarding the use of e-cigarettes. The topic has been included in the 2026 spring session work plan of the Milli Majlis Committee on Agrarian Policy. During the spring session, the committee plans to convene a public hearing titled “Health is our goal: an end to e-cigarettes.”
Jan.23 by 2FIRSTS.ai
Croatian decree raises excise duties on tobacco products effective January 1, 2026
Croatian decree raises excise duties on tobacco products effective January 1, 2026
Croatian government decree provides that higher excise duties on tobacco manufactures and tobacco products take effect from January 1, 2026. Excise on e-liquid is set at €0.25 per millilitre, on heated tobacco products at €211.30 per kilogram, and on a new tobacco product at €126.90 per kilogram. The decree’s explanation says 2026 budget revenue from these excises is expected to increase by €129.1 million.
Jan.07 by 2FIRSTS.ai
Romania Fines Philip Morris and Distributors Over IQOS Price Fixing
Romania Fines Philip Morris and Distributors Over IQOS Price Fixing
Romania’s Competition Council has found that Philip Morris Trading SRL and two distributors engaged in agreements to fix resale prices and promotional discounts for IQOS heated tobacco products.
Dec.19 by 2FIRSTS.ai