Oil prices swing wildly as market receives mixed messages September 20, 2016 Oil prices swung wildly today as traders weighed diminished concerns over rising US stockpiles against the broader market outlook. Brent crude, the global benchmark, jumped as much as 0.76 per cent to $46.30 per barrel as a key US petrol pipeline was on pace to return to service following an outage, offsetting concerns over a potential rise in crude [...]
IG Group bemoans summer’s trading snoozefest September 20, 2016 You'd have thought the past few months would have been pretty interesting (if not downright hairy) for spread betters like IG Group – but this morning the company said quiet market conditions had hit business. The figures The online trading group said revenues in its first quarter hit £111.4m, up 5.1 per cent from last year. It put [...]
Why Stateside aggression is increasingly familiar to European investors September 20, 2016 An abundance of liquidity relative to opportunities has led to investors agreeing to lend to companies at relatively high leverages without the usual conditions that enable them to renegotiate terms when the businesses underperform. Almost all deals syndicated that are taking place in Europe this month are covenant-lite, which means that investors will be unable to [...]
Sun shines for Channel Islands exchange as it claims 229 more listings in first half of 2016 September 19, 2016 An independent Channel Islands exchange has reported 229 new listings in the first half of 2016. The Channel Islands Securities Exchange (CISE) said this figure represented a 13 per cent increase on the same period last year and took its total number of listed securities to 2,222 at the end of June. Read more: Leading [...]
Air Astana to outline plans for London IPO September 19, 2016 Kazakhstan flag carrier Air Astana will detail plans for its initial public offering today, with London in line to be chosen for a secondary listing. In a presentation today it’s expected the company will outline how much of it will be sold. The IPO is currently scheduled for between October next year and October 2018. [...]
Hollywood Bowl float expected to kick off strong period for London IPO market September 18, 2016 Hollywood Bowl is set to float on the London Stock Exchange (LSE) this week, kicking off what is set to be an active post-summer period for the market in initial public offerings (IPOs). “If the markets hold up, then I think we’re going to be very busy,” Mark Austin, a capital markets partner at law firm Freshfields [...]
Mmmm: Doughnut company Krispy Kreme prepares for London float September 18, 2016 Doughnut company Krispy Kreme is progressing with its plans for an initial public offering (IPO) in London. The UK arm of the American company, which is controlled by private equity firm Alcuin Capital, is planning to float on the London Stock Exchange next month. Read more: Premier listing: Fund manager plots London Stock Exchange flotation The float, [...]
Premier listing: Fund manager plots London Stock Exchange flotation September 18, 2016 Fund management company Premier Asset Management is considering a float on the London Stock Exchange this year. Keefe, Bruyette & Woods and Numis are advising the firm on the possible initial public offering (IPO). The flotation discussions come nine years after Guildford-based Premier was taken private by Electra Partners. Read more: Another London Stock Exchange strike: Hollywood [...]
New York attorney general launches investigation into Exxon Mobil’s accounting practices September 16, 2016 New York attorney general Eric Schneiderman is reportedly probing why Exxon Mobil has not written down the value of its assets, despite the prolonged oil price slump which has riled the industry. The Wall Street Journal reported that Schneiderman's office has launched an investigation into the firm's accounting practices. It's already looking into whether Exxon misled investors over the [...]
Hollywood Bowl Group aims for a strike as it announces IPO price September 16, 2016 Hollywood Bowl Group announced an IPO price of 160p per share, which would give it a market capitalisation of £240m. The company said today that it has placed 113,283,274 shares in an offer which is expected to raise £181.3m. Dealing is expected to start on 21 September, it added. City A.M. revealed yesterday that the group was [...]