Card Factory to deliver £700m float in London April 22, 2014 CARD Factory boss Richard Hayes said yesterday that it hopes to emulate the success of other value retailers such as Poundland after announcing plans for float that could value the group at around £700m. The budget greetings chain, which has 700 stores, intends to raise £90m through an initial public offering that will allow its [...]
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 [...]
Small flotations get £2bn boost after lean years April 7, 2014 THE LAST 12 months have been the most active for initial public offerings (IPOs) on London’s junior stock market since 2007, with the amount of funds raised nearly tripling, according to UHY Hacker Young. Research released today shows that in the 12 months to the end of March, firms floating on the Alternative Investment Market [...]
Poundland and Pets start trading March 17, 2014 MILLIONS of shares in Pets at Home and Poundland changed hands yesterday after the two retailers officially started trading on the London Stock Exchange. Poundland boss Jim McCarthy opened trading in a ceremony at the exchange but shares in the company closed 2.6 per cent lower at 375p a share. About 2m Poundland shares changed [...]
London listings in best start to year since 2007 March 13, 2014 LONDON’S red hot stock market is set to deliver the best first quarter for floats since the financial crisis, as a host of companies rushed to join the flotation queue yesterday. The capital’s stock market has raised $5.92bn (£3.5bn) since the start of the year, the best first quarter for initial public offerings since the [...]
Sir Philip makes market return with Mysale IPO May 29, 2014 RETAIL tycoon Sir Philip Green is set to make a return to the stock market for the first time in 22 years after Australian flash sales site Mysale confirmed its intention to float yesterday, with a value of more than £300m. The Topshop owner has bought a 25 per cent stake in Mysale for £47m [...]
Bottom Line: Give up the fantasy and settle into real life March 18, 2014 INVESTORS love an excuse to panic. No sooner had Asos revealed yesterday that margins were likely to be squeezed this year as a result of slower sales and more investment, than shareholders had run screaming for the hills – wiping more than £1bn off the retailer in early trading. Fellow online players (and stock market [...]
Tech rout slams UK online giants April 8, 2014 BRITISH technology shares were pummeled for a second day yesterday as waves of uncertainty surrounding the sector continued, despite a recovery across similar stocks in the US. The FTSE 100 dropped for the second day in a row, falling over 32 points to 6,590.69, hampered by the poor performance of tech stocks. The top tech [...]
What you need to know before the open March 7, 2014 A mixed open for Europe this morning as investors await the US employment report. Consensus is that US hiring increased enough in February to leave the Fed’s tapering plan on track. The S&P 500 saw a record finish again yesterday as weekly jobless claims dropped to a three-month low. The ECB disappointed yesterday, leaving its [...]
Asos’ profits warning is crushing online retailers March 18, 2014 This morning, Asos chief Nick Robertson delivered the surprise warning that the company’s earnings margin will decline this year to around 6.5 per cent. Shares crashed over 20 per cent on the news. The reason given is that the store’s upping its investment in warehouses in Europe, along with its new venture in China, and [...]