Aim-listed firms bouncing back: Alternative Investment Market companies have biggest quarter of takeover activity October 5, 2014 The London Stock Exchange’s market for smaller growing companies, the Alternative Investment Market, had its biggest quarter of takeover activity in over two years as Aim-listed firms become attractive takeover targets. According to the accountancy group UHY Hacker Young, the three months to the end of September saw 13 merger and acquisition deals involving Aim [...]
Russian sanctions upset Moscow regatta show plans but Fine Art Sails still floats into Cowes Week August 6, 2014 Russian sanctions have taken the wind out of one London property developer’s sails. CNM Estates boss Michael Ross, who also runs Fine Art Sails, had been working on cultural ties with Moscow to bring his sail art to a regatta in the Russian capital this June. The plans ran into choppy waters, however, when [...]
Recovering markets in Europe drive rise in international floats July 27, 2014 CROSS-border flotations raised $25.7bn (£15.1bn) in the first half of 2014, up 151 per cent on the year, law firm Baker McKenzie said today. The fastest growth came in Europe, the Middle East and Africa (EMEA) where 31 flotations brought in $10.5bn, up 300 per cent on the year. Of those flotations, 21 were on [...]
Floats, mergers and deals now at the highest level since 2007 June 24, 2014 DEALMAKING has soared during the first six months of 2014 with global mergers and acquisitions (M&A) totalling $1.75 trillion (£1.03 trillion) unveiled, the highest global deal value since 2007 when $2.6 trillion in deals were struck, according to Dealogic. US M&A has so far dominated 2014, with volumes jumping 55 per cent to $798.5bn led [...]
Private equity under fire as floats plunge June 23, 2014 PRIVATE equity is under renewed scrutiny from buyside investors after two floats backed by Europe’s biggest buyout houses slumped in market trading yesterday. Shares in holiday website eDreams Odigeo plunged more than a third just eight weeks after Permira and Ardian sold part of their stake. The group, which became the first stock market listing [...]
Uber valued at $17bn in new funding round with Fidelity June 6, 2014 Mobile car booking service Uber has been valued at $17bn (£10.13bn) after raising $1.2bn of primary capital in a new fundraising round. The San Francisco-based firm – set up just four years ago by entrepreneurs Garrett Camp and Travis Kalanick – raised the cash via a group of institutional investors, mutual funds, private equity and [...]
Saga nudges past issue price on its first day May 29, 2014 Over-50s insurance-to-holiday provider Saga yesterday joined a small band of newly floated firms trading above their issuance stock price, as it began trading in London. The group, which was listed on the stock market at 185p, rose to 188p during the day but ended up barely above its initial price, closing at 185.25p. Saga, which [...]
Advisers split with firms over recent UK floats May 27, 2014 SMALL and medium-sized listed firms are split with their advisers on whether the recent jump in flotation activity will be good for their ability to raise funds. A survey released today by the Quoted Companies Alliance (QCA) and BDO points to a major schism between firms and their advisers on the effect of recent flotations. [...]
Al Noor Hospitals on the rise April 28, 2014 Middle Eastern healthcare group Al Noor Hospitals yesterday reported a 25 per cent rise in revenues to $111.6m, reflecting the recent purchase of a cancer centre. Al Noor, which listed in London last June, said it hopes to hire up to 80 doctors this year, including the 32 on board as a result of the [...]
Top stockbroker hits out at “deplorable” lack of retail floats April 22, 2014 One of the biggest names in the retail stockbroking sector has today described the situation facing retail investors wanting to invest in newly-floated companies as "deplorable". Yet another company, The Card Factory, has announced it is coming to market via an issue of shares only initially available to institutional investors. Keith Loudon, the senior partner [...]