Abu Dhabi and Kuwait funds plan investment in Saudi Aramco IPO November 27, 2019 The national investment bodies of Abu Dhabi and Kuwait are planning investments in Saudi Aramco’s upcoming initial public offering (IPO). Multiple sources told Reuters that the Abu Dhabi Investment Authority (Adia) is taking a stake worth at least $1bn (£780m). Any final decision on the size of the investment will need board approval. Read more: [...]
FTSE 100 edges up as Europe rises on trade deal hopes November 27, 2019 The FTSE 100 climbed half a per cent this morning as European stocks rose on hopes of a US-China trade deal. London’s blue-chip index was up 0.49 per cent by 10.30am to 7,438 points with traders also awaiting a closely-watched election poll that is due to be published tonight. Read more: Boris Johnson promises sensible [...]
Silver Lake pours $500m into Man City owner to break sports group valuation record November 27, 2019 Private equity giant Silver Lake has made a $500m (£389m) investment into Manchester City Football Club’s owners. The cash influx means Abu Dhabi’s City Football Group is now worth $4.8bn, the firms said today, breaking the valuation record for a sports organisation. Read more: Mourinho’s changes spark Spurs comeback to seal last 16 The deal [...]
Longboat Energy IPO raises £10m in London debut November 26, 2019 Longboat Energy, a new North Sea oil company, today announced it had raised £10m in its initial public offering on London’s AIM. The company, which is led by the former leadership of Faroe Petroleum, priced the offering at 100p per share. Read more: China’s Sdic power to list in London for up to £640m Blue-chips [...]
Oil industry to spend £15bn on North Sea decommissioning November 26, 2019 The UK oil and gas industry is set to spend more than £15bn on decommissioning activity in the North Sea over the next decade, as thousands of wells are expected to be withdrawn from service by 2030. According to a new report from industry body Oil and Gas UK (OGUK), 2,379 wells will be decommissioned [...]
Global emissions must be cut 7.6 per cent a year to meet Paris targets November 26, 2019 Unless greenhouse gas emissions fall 7.6 per cent each year for the next decade, the world will miss its chance to limit the global temperature rise to 1.5 degrees celsius. A new report from the United Nations environment programme (Unep) finds that on current pledges, the world is heading for a 3.2 degree rise. Read [...]
China’s Sdic Power to list in London for up to £640m November 26, 2019 Leading Chinese power generation firm Sdic Power today confirmed that it would offer 10 per cent of its shares as global depositary receipts on the London Stock Exchange (LSE). Shanghai-listed Sdic is worth 57.92bn yuan (£6.4bn), which suggests that the offering could be worth up to £640m, according to a source familiar with the transaction. [...]
Uber rival Bolt set to secure $100m in new funding November 26, 2019 Uber competitor Bolt is on the verge of securing more than $100m (£78m) in new funding. The Estonian ride-hailing app is working with Goldman Sachs on the new round of funding, just four months after raising £50m from new and existing backers. Read more: TfL bans Uber from London after a ‘pattern of failures’ Bolt, [...]
Pennon raises dividend on the back of robust first half of 2019 November 26, 2019 Pennon, which owns waste management firm Viridor and utility supplier South West Water, said it had posted a “robust” set of results for 2018 as the firm raised its shareholder dividend. Read more: Compass Group shares sink as catering unit is undercooked The figures Pennon’s profit rose 0.8 per cent in the half ending 30 [...]
IPOs – no sure thing? November 26, 2019 | City Talk IPOs always attract plenty of attention, particularly when they are of highly-recognised companies. But are they a wise destination for investor cash? IPOs offer plenty of glamour, a change from the usual stocks in an index, and there have been plenty of new entrants to the UK stock market over the past ten years. Some [...]