Royal Mail IPO share price: One year on – will Vince Cable have the last laugh? October 9, 2014 The pressure on business secretary Vince Cable to admit that the government made a mistake pricing Royal Mail shares at 330p has been steadily building since the company floated a year ago. On the first day of conditional trading, shares soared 38 per cent, having already opened at 403p. This increase, coupled with fevered appetite [...]
Ordinary investors are losing out in the rush for cut-price flotations October 9, 2014 THE MASS market British Gas and BT privatisations of the 1980s created a whole new generation of investors and, 30 years on, the next generation is waiting in the wings. With many companies – including high profile public brands – keen to save flotation costs, however, retail investors are being ignored and denied the opportunity [...]
British Car Auctions looking to raise £200m in November IPO October 6, 2014 British Car Auctions (BCA), owner of online car buying service webuyanycar.com, is preparing to float on the stock market. The company, which operates in 12 European countries as well as Brazil, is aiming to raise around £200m through placing at least 25 per cent of its issued share capital. John Olsen, chief executive [...]
Jimmy Choo IPO ‘to value shoe label at £700m’ October 6, 2014 Luxury shoe company Jimmy Choo could land on the London Stock Exchange with a top valuation of £700m – less than originally expected, according to reports. The high end label, a favourite of Sex and The City star Sarah Jessica Parker, is looking to issue a quarter of its share equity with an initial [...]
Webuyanycar owner BCA gears up for London IPO October 6, 2014 Britain's largest car auctioneer BCA has confirmed plans to list on the London Stock Exchange, in a move that would value the business at £800m. Blackbushe-based BCA, which acquired webuyanycar.com last August, is looking to raise £200m by issuing a quarter of its equity. The company said the proceeds would be used to pay [...]
Miller Homes cancels IPO, citing “financial market volatility” October 3, 2014 After Nationwide reported a dip in house prices, Miller Homes has offered more evidence that the housing market may be slowing. The developer has cancelled its IPO, citing market conditions: In light of the recent financial markets volatility, the Shareholders of Miller Group have elected not to proceed at this time with a public offering [...]
Aldermore IPO to value challenger bank at around £800m October 3, 2014 Aldermore has set a price range for its initial public offering that will value the challenger bank at around £800m. The price for the IPO will be set at between 217p and 265p per ordinary share. Trading is expected to begin as soon as 17 October. The five-year-old bank announced half-year profits of [...]
Rocket Internet IPO sees share price plummet: Frosty welcome for German tech group as debut collapses October 2, 2014 German tech group Rocket Internet plunged over 14 per cent within minutes of their stock market debut in Frankfurt yesterday as investors gave Europe’s largest internet float since the dot-com crash in 2000 an icy welcome. The German internet firm debuted on the Frankfurt Stock Exchange, joining fellow German tech startup Zalando which went public [...]
Investment banking fees jump 13pc on bumper IPO year October 2, 2014 A bumper IPO season has caused investment banking fees to rocket by 13 per cent compared to the previous year, new research has shown. A study by Thompson Reuters shows investment banks made $68.8bn (£42.69bn) during the first nine months of 2014, the strongest period since 2007 before the global financial crash. Research by EY [...]
Virgin Money IPO: Challenger bank to float on stock market October 2, 2014 Challenger bank Virgin Money is floating on the stock market, chief executive Jayne-Anne Gadhia announced yesterday. The sale of the 25 per cent stake in the bank is expected to value the lender at between £1.5bn and £2bn. Major owners Virgin Financial Investments and US investment guru Wilbur Ross’ investment fund will sell down parts of [...]