TSB promises rapid growth to new investors May 27, 2014 NEW HIGH street bank TSB yesterday set out plans to grow by 50 per cent over the coming years, hoping to attract investors with an ambitious expansion plan. Lloyds is selling the 631-branch bank and published its intention to float the lender on the stock market yesterday. The sale comes at a tricky moment as [...]
Inside Track: London’s 2014 flotations get off to a promising start February 27, 2014 THERE have been weeks of anticipation. Now it’s time for early evaluation as the first London new issues of 2014 start trading. Which way the newly issued shares trade can set the mood for the rest of the year – or at least provide an indication of the appetite of the institutions for newly-listed stocks. [...]
What the other papers say this morning – 28 March 2014 March 28, 2014 FINANCIAL TIMES Facebook works on drones and lasers Facebook is working on drones, satellites and lasers to deliver the internet to far flung corners of the world, in its second big bet on future technology in a week. Mark Zuckerberg, Facebook founder and chief executive, said yesterday that the company is working with leading experts [...]
Inside Track: Investors: How best to avoid being shut out on listings March 13, 2014 CITY folk often have long memories and until very recently there was an average chance that if a private equity group tried to bring a company to market it would be hit by a barrage of cynicism. The disappointing performance of several stocks in the noughties, including Debenhams, ensured that for a good while whenever [...]
Institutions get a stronger hand in new issues April 14, 2014 THE PENDULUM of power in the new issues market could swing back to institutional investors this summer after a spate of companies floated so far this year sank underwater. Big name issues in London including Brit Group, Just Eat, AO World and Pets at Home have all fallen below the price they floated at in [...]
John Roberts defends adviser in £1.2bn float March 6, 2014 AO World’s blockbuster IPO was 18 months in the planning THE founder of the Bolton-based fridge retailer AO World, which has provided the most spectacular flotation in the London markets so far this year, yesterday staunchly defended the £12m fee his group agreed with Rothschild, the independent financial adviser on the deal. “£12m is a [...]
Stock stampede doubles amount of market floats April 2, 2014 STOCK market flotations around the world doubled last quarter, driven by a near record high in issuance across Europe despite a stall in M&A activity, fresh figures show. The boom in stock market issues means a $4.8bn (£2.9bn) windfall for investment banks around the world, due to fees rising by nearly a third compared to the [...]
Internet float to test the market after setbacks May 5, 2014 IRISH tech firm Big Red Cloud, a provider of online accounting software, will today announce its plan to raise €5m (£4.1m) from a London float that will test investor’s appetites in a sector that has been hammered in recent weeks by fears of a valuation bubble. Despite jitters in the sector that have sent firms [...]
TPG showering bathroom web store with cash April 1, 2014 A FAMILY owned bathroom fixture store based in Hull has won the backing of one of America’s biggest private equity investors. Victoria Plumb, an online store which sells products like showers and taps, is setting up a venture with TPG Capital, the buyout giant led by private equity veteran David Bonderman. The tie-up is thought [...]
Inside Track: Three reasons why the new issues market is struggling April 24, 2014 AS ADVISERS to Saga put the final touches to the largest flotation so far this year in the London new issues market, it is an opportune time to look at where we stand. Few could deny that the London new issues market, so dormant a couple of years ago, has come back to life. Since [...]