Profits up after Citizens Bank’s market flotation October 27, 2014 CITIZENS bank reported healthy profit growth yesterday in its first set of quarterly results since RBS sold off a 25 per cent stake in the US retail lender. Net income came in at $189m (£117m) for the three-month period, up 31 per cent on the $144m in the same quarter of 2013. Revenues were up [...]
Volution Group results strong for first post-IPO report October 23, 2014 Fan manufacturer Volution Group has reported an 18 per cent increase in revenue during 2014, from £102m to £121m. Of this total, the company’s ventilation segment posted revenue of £101m, up 23 per cent on last year. The firm also reported a pre-tax loss of £15.5m, compared with a £4.2m loss in 2013. These [...]
GlaxoSmithKline considers £17bn HIV wonder drugs split with Viiv Healthcare IPO October 22, 2014 Pharma giant GlaxoSmithKline (GSK) is considering floating its HIV drugs business in a move that would see Viiv Healthcare among the top 40 companies in the FTSE 100 with a market valuation of up to £17bn. Chief executive Andrew Witty told reporters yesterday: “In line with our commitment to identifying ways to realise shareholder value, [...]
GSK healthcare spin-off ViiV could generate one of the biggest IPOs in history: Here are some of the most successful corporate spin-offs stories October 22, 2014 ViiV Healthcare could generate one of the biggest IPOs in history, if GSK decides to go ahead and make it a spin-off company. The pharmaceutical firm was created in 2009 as a joint venture between GSK and US firm Pfizer. It specialises in developing therapies for HIV and operates in 16 countries. With [...]
Afilias IPO: Irish web domain company takes the plunge with new listing October 21, 2014 Afilias, the Dublin-based internet service provider, yesterday defied the stock market gloom to launch a $100m (£62m) listing. The flotation, which is being led by mid-market broker Numis, will see the company list on Aim, the junior stock market next month. The company has the second largest number of domain names in the world and [...]
Another IPO bites the dust as webuyanycar.com owner BCA Marketplace pulls its listing October 21, 2014 Is this the end of London's short-lived IPO boom? Used car auctioneer BCA Marketplace – the owner of webuyanycar.com – has become the third company in two weeks to cancel its IPO, saying volatility in global equity markets has put it off. The news follows much-publicised shelvings of IPOs by challenger banks Aldermore and Virgin Money, [...]
Medibank Private IPO: Australian ministers aim to raise up to £3bn in healthcare listing October 20, 2014 The Australian government is set to reap a A$5.5bn (£3bn) windfall after unveiling plans to sell its stake in Australia’s largest private health insurer Medibank Private. Ministers, who will sell shares to retail investors in the initial public offering, intend to offload the government’s entire stake in the insurance business. Shares were yesterday priced at [...]
C4X Discovery IPO: Healthcare firm set to debut £31m City listing October 20, 2014 University of Manchester spin-out C4X Discovery will this morning announce its intention to raise £11m through listing nearly 36 per cent of the business on London’s Alternative Investment Market on Thursday. The float will give the Manchester-based business, which develops technologies to improve the discovery process for small molecule drugs for diabetes and substance [...]
Virgin Money delays IPO until market conditions improve October 17, 2014 Virgin Money has pushed back its IPO indefinitely, saying it will now go public “as soon as constructive market conditions allow”. The challenger bank had announced it would list on the London Stock Exchange this month, and was expecting to raise gross proceeds of £150m. Virgin planned to issue 25 per cent of its [...]
EE IPO talks back on as Orange and Deutsche Telekom consider options for £12bn disposal October 16, 2014 The owners of EE, the UK’s largest mobile network company, are believed to be back in talks for either a float or sale of the business that could value it at up to £12bn. Orange and Deutsche Telekom, which each own half of EE, were considering strategic options for the business last year before deciding [...]