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.

NZ Government Eyes Sale of Smokeless Tobacco; Critics Warn of “Backslide”
NZ Government Eyes Sale of Smokeless Tobacco; Critics Warn of “Backslide”
Associate Health Minister Casey Costello faced renewed scrutiny in Parliament’s health select committee over her handling of tobacco-related policy and alleged ties to the tobacco industry. The government is considering allowing smokeless nicotine products such as snus and nicotine pouches, provided they meet safety and youth-access regulations.
Dec.05 by 2FIRSTS.ai
Belgium Plans to Ban All Vape Flavours Except Tobacco, Backed by Health Council
Belgium Plans to Ban All Vape Flavours Except Tobacco, Backed by Health Council
Belgian Health Minister Frank Vandenbroucke has announced plans to ban all e-cigarette flavours except tobacco, following new advice from the Superior Health Council (CSS). The move marks a major policy shift, as the Council now fully supports flavour restrictions to curb youth vaping.
Nov.19 by 2FIRSTS.ai
Russia's Finance Ministry Proposes Regional Vape Sales Bans from 2026
Russia's Finance Ministry Proposes Regional Vape Sales Bans from 2026
Russian Finance Ministry has drafted amendments allowing regional governments to ban the retail sale of vapes and e-liquids between September 1, 2026, and September 1, 2031. Regions must enact their own legislation and notify the Federal Service for Alcohol and Tobacco Control (Rosalkogoltabakkontrol), which will publish a list of participating regions.
Dec.08 by 2FIRSTS.ai
Smoore International Donates $5 Million Hong Kong Dollars to Big Fire Disaster Area for Medical Aid and Relief
Smoore International Donates $5 Million Hong Kong Dollars to Big Fire Disaster Area for Medical Aid and Relief
Smoore International donates HK$5 million to aid Big Bay fire victims, marking its first charity donation in 2025.
Nov.28 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
Bangladesh High Court Questions Legality of BEZA’s Approval for Philip Morris Nicotine Pouch Factory
Bangladesh High Court Questions Legality of BEZA’s Approval for Philip Morris Nicotine Pouch Factory
The High Court in Bangladesh has asked government bodies to explain why the approval granted to Philip Morris to establish a nicotine pouch factory should not be deemed illegal. Petitioners argue the decision contradicts existing policies and a 2016 Appellate Division ruling that restricts new tobacco-related enterprises. Authorities have ten days to respond.
Nov.20 by 2FIRSTS.ai