Ocado is bruised after yet more bashing from analysts July 18, 2010 OCADO received yet another mauling at the hands of an analyst in the run-up to its proposed £1bn flotation. Evolution’s Dave McCarthy joined the growing list of analysts to bash the online grocer as it attempts to convince investors to part with £200m despite never having turned a profit. McCarthy raised concerns over whether the [...]
Ocado plans pulled apart by research July 15, 2010 ONLINE grocer Ocado has come under fire again for its ambitious £1bn flotation plan, as another research analyst warns investors off the firm. Edison Investment Research said in a scathing note the firm should cut its price by more than half, recommending a £400m to 650m range. It criticised the company’s lack of assets and [...]
THOUSANDS TURN OUT FOR GREAT CITY RACE July 15, 2010 THAT time of year seems to have crept up on us again, when thousands of City runners take to the streets for the most popular race of the year – the Standard Chartered Great City Race. After a chilly, blustery day, the sun finally came out to shine on the gathered throng, who signed up [...]
Ocado reels as rival IPO fails July 14, 2010 OIL and gas group Fairfield Energy last night pulled its upcoming stock market flotation in a move that further undermines the chances of online grocer Ocado floating at a sky-high valuation of £1bn. Fairfield was hoping to raise £330m as part of its flotation but on Tuesday it became clear that the group’s advisers were [...]
Bullish Ocado defies calls to cut IPO?price July 13, 2010 ONLINE grocer Ocado dismissed more calls to cut the price of its planned flotation yesterday, saying analysts had misunderstood the fundamentals of the business. Several analysts claimed yesterday the Waitrose grocery distributor is worth much less than its intended £1bn valuation, and urged the firm to lower its sights. Shore Capital analyst Clive Black said [...]
Ocado hits back at critics July 11, 2010 OCADO’S advisers reacted furiously last night to suggestions its £1bn flotation may be in trouble. The firm spoke out against a number of high-profile fund managers it claims are attempting to undermine the pricing of its IPO. The float, in which the grocery delivery firm hopes to raise £200m, appears to be on a knife [...]
Quest: Shares in Ocado are overvalued by 46 per cent July 8, 2010 Analysis firm Quest has delivered another slap in the face to Ocado, as the grocery delivery firm attempts to justify its £1.1bn IPO valuation to investors. The Collins Stewart subsidiary says it values shares in Ocado at just 128p – a staggering 46 per cent under the mid-point put forward in its prospectus. It says [...]
Amazon set to sell groceries July 7, 2010 Ocado’s £1.1bn float was dealt another blow yesterday when internet giant Amazon launched a competing grocery delivery business. Amazon has long toyed with the idea of branching into food delivery, and already does so in the US and Germany, but the timing of the decision heaps pressure on Ocado. Analysts have already questioned the value [...]
Ocado warns investors of Waitrose risks July 6, 2010 OCADO finally launched the hotly anticipated prospectus for its £1.1bn flotation, to a muted response from the City. The firm has set the price-range between 200p and 275p a share, giving it a value of between £800m and £1.1bn, despite never having turned a profit. The document contains 18 pages of risk factors associated with [...]
Ocado sets £1.2bn valuation for listing July 6, 2010 ONLINE grocer Ocado is aiming for a valuation of over £1bn in its planned initial public offering (IPO), despite turbulent markets and scepticism among some analysts and investors. The firm, which announced plans last month to raise £200m in a stock market listing, said on it would price its shares at between 200 pence and [...]