Strong year for City flotations September 14, 2014 LONDON’S listings market is bouncing back to pre-recession highs, as an increasing number of companies make their debut on the London Stock Exchange. Research by Capita Asset Services forecasts main market initial public offerings (IPOs) are likely to be worth £11.7bn this year, smashing the £8.7bn figure in 2011 that was largely raised by the [...]
Dealmakers thrive in City’s flotation frenzy September 14, 2014 DEALMAKER of the year Although there has been a dearth of mergers and acquisitions so far this year, there has been a rash of initial public offerings (IPOs) for our dealmakers to get their teeth into. There has been some exciting deals for bankers to get a buzz from. Verizon Wireless’ $130bn deal to take [...]
Virgin Money edges closer to IPO after 356pc increase in underlying profit September 12, 2014 Virgin Money has reported a 356 per cent increase in underlying profit before tax to £59.7m in a half-year trading update released this morning. The company also confirmed that Glen Moreno would take over as chairman of the company from mid-2015. IPO talk Profit before tax was down by 97 per cent, [...]
Alibaba IPO: Ecommerce firm may have already covered record-breaking listing September 10, 2014 Alibaba has already covered its record-breaking $21bn initial public offering, according to reports. The IPO launched on Monday and its investor roadshow has already hit New York and Boston, with founder Jack Ma explaining the company's business model and assuaging concerns over its corporate governance. And it appears the 49-year-old has been successful, [...]
BrightHouse IPO plans hit turbulence over MP inquiry September 9, 2014 The listing of shares in rent-to-own retailer BrightHouse was left in limbo yesterday after a fresh parliamentary inquiry into the group cast doubt on the firm’s ability to attract investors. A group of MPs, under the auspices of the All-Parliamentary Group on Debt and Personal Finance, will investigate rent-to-own outlets like BrightHouse, sparking concerns the [...]
Biggest bank IPO of the year, as RBS values US bank Citizens at up to $14bn September 8, 2014 RBS hopes to raise $3.5bn (£2.2bn) by selling the first chunk of its US retail bank Citizens, the bailed-out bank announced yesterday. It will be the biggest banking sale of the year, and reflects the renewed confidence markets have in newly-floated stocks. RBS is selling Citizens as part of its wider plan to cut back foreign [...]
Alibaba: Bigger isn’t always better for IPOs – CNBC Comment September 8, 2014 GET OUT your superlatives. The Alibaba IPO is set to be the biggest in history – with an expected $21bn (£12.9bn) offering. The numbers are staggering. The Chinese e-commerce giant could be valued at $163bn, not too far off Facebook’s $200bn valuation. Its profit margins are above 40 per cent, and Alibaba accounts for 80 [...]
Alibaba expects IPO to raise $24.3bn with largest listing in history September 6, 2014 Alibaba expects to raise $24.3bn when it lists on the New York Stock Exchange (NYSE) later this month. If it raises that sum, the Chinese e-commerce giant's initial public offering (IPO) will be the largest in history, giving it a valuation of around $163bn. In a regulatory filing with the US Securities and Exchange Commission, [...]
Flotations outperform FTSE by over five per cent September 4, 2014 New listings on the London stock market have generated better returns for investors than the FTSE 100 this year, despite some prominent private equity-backed flops, a survey shows. The 28 initial public offerings of shares between the turn of the year and the end of August achieved an average return of seven per cent – [...]
Len Blavatnik’s Perform offer revives troubled IPO debacle – Inside Track September 1, 2014 The non-executive directors of the media group Perform, who include the sports broadcaster Gaby Logan and the former DMGT finance director Peter Williams, have a tough job on their hands in deciding whether to recommend the 260p per share offer for the group from its major shareholder, Len Blavatnik. Blavatnik, whose business interests also include [...]