Time to take Stock of the IPO market – Editor’s Letter November 5, 2014 Those hoping the resurrection of the Virgin Money flotation might lead London’s initial public offering (IPO) markets into an end-of-year revival should take a read of yesterday’s statement from Stock Spirits Group, the Polish vodka maker that floated in London just over a year ago. Shares in Stock Spirits yesterday tumbled more than 25 per [...]
Quartix IPO: As London’s frosty market reopens co-founder Andy Walters on why he braved the waters November 5, 2014 Telematics founder Andy Walters braved the City’s turbulent times As the London market starts to thaw, with the likes of Virgin Money gearing up to float after delaying when the global sell-off sent British shares tumbling, one small vehicle-tracking firm has braved the volatile market and will float today. Quartix co-founder and managing director Andy [...]
Exclusive: Virgin Money cuts expectation for post-IPO market cap November 5, 2014 Challenger bank Virgin Money has lowered expectations for its post-IPO valuation, City A.M. understands. Having originally touted a post-IPO market cap of between £1.5bn-£2bn, it has reduced its expectations to £1.25bn-£1.45bn following its IPO later this month. Virgin Money shelved its flotation plans in October citing market turbulence, but on Tuesday it said more [...]
Fever-Tree IPO: Charles Rolls and Tim Warrillow are cracking open the bubbly for a market debut November 4, 2014 When boom turns to bust, it can be best to keep your head down, get back to work and wait for a better time to dive into choppy waters. Plenty of other firms have had second thoughts about their flotations in recent week, as the frenzy of earlier months gave way to a market slump. [...]
Alibaba revenue rises 54 per cent in first quarterly results since IPO November 4, 2014 Alibaba’s first earnings report since its initial public offering (IPO) – the largest in history – was something of a mixed bag. While revenues beat analysts’ expectations, profits fell well below forecasts. Revenues came in at $2.74bn (£1.71bn) for the quarter ended 30 September 2014, beating an expected $2.61bn from analysts polled by Yahoo [...]
Virgin Money confirms it will IPO by the end of November November 4, 2014 Challenger bank Virgin Money has confirmed it will go ahead with its flotation plans after it put its IPO off last month. In a statement to the stock market today, the bank said it expected to list on the London Stock Exchange by the end of November. Previously it has said it aims to raise [...]
Virgin Money re-launches IPO, Virgin America expects to raise $36m from its own offering November 3, 2014 Virgin Money’s stock market flotation is back on the table, as the UK challenger bank is understood to be re-launching its plans imminently. Meanwhile – across the Atlantic – low cost airline Virgin America could be valued at $1bn (£625m) if its initial public offering (IPO) goes to plan. Rocky market conditions last [...]
Fever-Tree share price rises after bigger than expected IPO November 3, 2014 Upmarket drinks firm Fever-Tree’s shares will price at 134p this morning, valuing the nine-year-old firm at £154m. Its biggest backer LDC is selling 80 per cent of its stake, and will be left holding 10 per cent of the firm’s shares. Management will sell 40 per cent of their holding and be left with 24 [...]
Virgin America’s IPO could value it at $1bn November 3, 2014 Here's a welcome bit of good publicity for one of Richard Branson's businesses. Virgin America, the seven-year-old airline which specialises in internal flights between cities in the US (and some Latin American countries), could be valued at $1bn (£625m) if its IPO goes to plan. New documents filed with the US Securities and Exchange Commission [...]
Fever-Tree IPO: Float priced tonight November 3, 2014 Bankers to the drinks mixers group Fever-Tree expect to price its stock market flotation tonight, confounding a poor market for new issues. Floating on London’s Aim, the listing will see 50 per cent of the drinks group bought by outside investors. The company is looking to raise just £4m of new money from the [...]