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 [...]
A year of IPOs may make Virgin Money a tricky sell – Bottom Line October 2, 2014 What a boom year! What a great time for flotations! What a great stroke of luck Virgin Money has had, planning this listing of shares on the stock market. Well, maybe not. In fact, Virgin Money might have to begin with a relatively conservative valuation. Investors are burned out. Sure, there was massive pent-up supply [...]
Virgin Money IPO: Retail investors denied place in yet another float October 2, 2014 Virgin Money defended its choice to sell its shares exclusively to institutional investors – as revealed yesterday in City A. M. – arguing it made for a smoother flotation. Small investors have missed the chance to invest in the majority of IPOs over the past year – the last very large float with a [...]
Virgin Money confirms IPO plans and looks to raise £150m October 2, 2014 Virgin Money Holdings has confirmed its intention to float on the London Stock Exchange, as yet another “challenger” bank looks to go public. The retail bank expects to raise £150m from its initial public offering (IPO), and will use £50m of the proceeds to complete a payment owing to the UK government. Each [...]
Virgin Money advisers reject retail element in £2bn IPO October 1, 2014 Virgin Money, which is planning a London float that will value the challenger bank at between £1.5-2bn, has decided against offering the shares to the public despite some institutions and advisers pushing hard for this. Retail offers have been a rarity in the London market this year, despite the massive interest generated last year by [...]
Rocket IPO: Shares priced at €42.50 with €1.6bn valuataion October 1, 2014 Rocket Internet has priced shares for its initial public offering at the top of its range at €42.50. The German internet firm will debut on the Frankfurt Stock Exchange on the 2 October, joining fellow German tech startup Zalando which went public a day earlier. The float of just over 20 per cent of the [...]