Majestic Wine reveal solid FY figures, but outlook is cautious June 14, 2018 | City Talk Majestic Wine revealed solid full-year figures this morning, but issued a cautious outlook. Revenue rose by 2.3% to £476.1 million, broadly in line with estimates. Pre-tax profits jumped by 33% to £17.2 million, meeting analysts’ forecasts. The total dividend was increased by 40% to 7.2p, which comfortably topped the consensus estimate of 5.67p. The wine [...]
Petra Diamonds share price tumbles over 20 per cent as company fights to raise £127.4m June 14, 2018 Shares in mining company Petra Diamonds have fallen 23 per cent this morning, after the company flooded the market with new shares in an effort to raise £127.4m. Shareholders approved the rights issue to help cut the company’s debt burden at a special general meeting yesterday by a 99 per cent majority, driving share prices [...]
Vue Entertainment to postpone IPO after major Canadian shareholder considers selling stake June 14, 2018 The UK's largest cinema chain, Vue Entertainment, may postpone its plans for a stock market float after news that one of its biggest shareholders is considering selling its stake in the company. According to Sky News, which first reported the reshuffle, Canadian company Alberta Investment Management Corporation (Aimco) is seeking a buyer for its ts [...]
Unilever shares drop as position in the FTSE looks uncertain June 14, 2018 Unilever has said it is unlikely to remain in the FTSE indexes after its planned move to a single headquarters in Rotterdam. Under plans announced in March, Unilever will ditch its dual-structure system, abandoning London in favour of The Netherlands. At a presentation today, chief financial officer Graeme Pitkethly said the company was "extremely unlikely" [...]
Ex-Goldman investment manager plans to raise £100m in new Indian equities investment trust Ashoka June 12, 2018 A former top investment manager at Goldman Sachs plans to raise £100m on London’s stock market to invest in companies focused on India. Ashoka India Equity Investment Trust today announced its intention to launch its initial public offering on London’s main market, with a view to eventually investing in between 20 and 40 stocks. The [...]
French asset manager Comgest bets on London with new office launch June 12, 2018 Paris-headquartered asset manager Comgest has backed London with the launch of its first UK office in Mayfair. UK-based clients represent approximately seven per cent of Comgest’s asset under management, around £1.8bn out of £25.1bn. Read more: Strong performance by asset managers fails to prevent fees being squeezed Comgest’s chief executive officer Arnaud Cosserat said: “Comgest [...]
Aquis gears up for £12m float on London Stock Exchange June 11, 2018 Share-trading venue Aquis Exchange is set to float on Thursday as it seeks to raise £12m following previous investment. The pan-European cash equities exchange, which is aiming to be valued at £73m with a share price at around 269p, is planning to list on the Alternative Investment Market (Aim). With the firm having already raised [...]
London-based artificial intelligence firm looks to expand after raising £13m in a Series A funding round June 11, 2018 Research-driven artificial intelligence (AI) company Eigen Technologies aims to expand after raising £13m in its first significant round of venture capital financing. The London-based tech firm, which has obtained the money in a Series A round co-led by Goldman Sachs and Temasek, takes unstructured qualitative data and turns it into information which companies can then [...]
Mind Gym flexes muscles with £140m London listing June 10, 2018 Training firm Mind Gym is planning to flex its market muscles through a £140m listing on London Stock Exchange arm AIM. The company, which is owned by Octavius Black, an Eton peer of former Prime Minister David Cameron, has brought in Liberum Capital to handle the listing. City A.M understands that an announcement on the [...]
Argo aims to become first main market-listed crypto-miner as it launches new mining subscription service June 9, 2018 Argo has announced that it intends to become the first crypto-miner listed on the London Stock Exchange and will launch a service which makes mining easier for clients. The originally Canada-based company, which has now launched in the UK, seeks to capitalise on the recent surge in demand for crypto-mining by launching the subscription-based service [...]