Sir Mike Rake will no longer take the wheel as RAC chairman after it abandoned IPO plans September 25, 2014 There is a major turnaround at the RAC as City heavyweight and CBI president Sir Mike Rake will no longer take up his position as chairman of the roadside recovery firm, following investment in RAC today from Singapore sovereign wealth fund GIC. RAC had announced at the start of September it would appoint Rake [...]
Citizens IPO: Share price recovers after low float price September 24, 2014 Shares in RBS’ American spin-off bank Citizens jumped sharply yesterday on their first day of trading. The New York-listed retail bank disappointed on its flotation, with shares sold in the initial public offering (IPO) pricing at $21.50 – below the $23 to $25 RBS had hoped for. But the price climbed rapidly once the shares [...]
GoPro share price is up 173 per cent on IPO price September 24, 2014 Go-Pro shares are up 173 per cent on their IPO value. The huge rise began when shares launched at $28.65 on 26 September: they were priced at $78.25 at the time of writing. It hasn't all been plain sailing, stocks took a pounding after the first quarterly report came out, falling around 12 per cent, despite [...]
Miller Homes IPO: Regional builder aims to raise £140m in listing September 23, 2014 The autumn stock market listing season is building up after Miller Homes yesterday announced plans to seek entry to the London Stock Exchange in the next few months. The housebuilder is seeking to raise up to £140m from the sale of at least 40 per cent of its shares, which would value Miller Homes at [...]
Private equity leaders feast on IPOs and deals September 23, 2014 PRIVATE EQUITY MANAGER of the year Private equity groups have feasted on fresh opportunities thrown up by ongoing financial trends this year, from the rise of China’s market economy to the dissipation of traditional bank lending. This year’s nominations include some of London’s most senior dealmakers and executives and reflect the capital’s pivotal importance at [...]
Jimmy Choo to float on London Stock Exchange with IPO plans September 23, 2014 The luxury shoemaker made famous by the television show Sex and the City has confirmed it will go public in a much-anticipated IPO. Jimmy Choo owner JAB Holdings said the listing on the London Stock Exchange, which could value the firm at up to £1bn, would fund the designer label’s growth and expansion into new markets. The [...]
Challenger bank Aldermore kicks off new wave of stock flotations September 22, 2014 Challenger bank Aldermore wants to raise more than £75m in a stock market flotation, the small business and mortgage specialist announced yesterday. The flood of initial public offerings (IPOs) earlier this year had dried up with the combination of uncertainty over the Scottish referendum and the annual summer slowdown. But after last week’s No vote, [...]
RAC IPO plans stalled as firm considers trade sale option September 22, 2014 RAC, the roadside recovery group, has yet to set a date for its hoped-for initial public offering (IPO), leading some to argue the group is more likely to plump for a trade sale to a new private equity owner. Carlyle, RAC’s current owner, enlisted business hotshot Sir Michael Rake as its chairman earlier in the [...]
Challenger bank Aldermore announces plans to IPO September 22, 2014 Five-year-old Aldermore Bank has today announced plans to list on the stock market, saying it wants to raise £75m "to support the medium-term growth of the business". The bank, which focuses on lending to small businesses and homeowners, was one of several "challenger banks" launched during the recession when its founders saw a gap in [...]
Alibaba has priced its shares, and it’s going to be the biggest IPO ever September 18, 2014 Alibaba has priced its initial public offering at $68 per share – the top end of its price range. The pricing will raise the e-commerce giant $21.77bn and value the company at $167.62bn, making it one of the largest IPOs in history. Shares in the Chinese company will begin trading on the New York Stock [...]