Bank fees from private equity firms fall 42pc during early 2012 April 9, 2012 FEES paid by private equity firms to investment banks decreased by 42 per cent in the first quarter of 2012 after being hit by a decline in M&A activity within the sector. Research by data provider Dealogic shows that “financial sponsors” – mainly private equity investment funds who engage in leveraged buyouts – accounted for [...]
Eurozone woes raising the cost of listing firms April 9, 2012 WORRIES over the Eurozone crisis have made investors increasingly cautious, pushing up the cost of listing a company on AIM and reducing the funds raised, a new study revealed today. Including listing fees and broker charges, the cost of listing hit 10.6 per cent of all funds raised in 2011, up from 7.3 per cent [...]
Market watches Oaktree IPO for seeds of hope April 9, 2012 PRIVATE equity house Oaktree Capital Management will fire the starting gun on an estimated $2.2bn (£1.38bn) listings bonanza in the US this week. The Los Angeles buyout group is one of eight firms due to price shares, stirring hopes of a revival in the moribund market for initial public offerings (IPOs). Energy and industrial companies [...]
Dividends at UK’s largest firms increased by 16 per cent in 2011 April 9, 2012 DIVIDENDS at British businesses rose by 16 per cent during 2011, according to analysis by stockbroker Shore Capital. The report, which covered 191 of the UK’s biggest quoted companies, shows that a huge 80 per cent of the firms covered increased their final year-on-year dividend. A further 15 per cent of dividends were unchanged while [...]
Disappointing American jobs data weighs on global stocks April 9, 2012 THE REPERCUSSIONS of a weak US jobs report were felt throughout global equity markets yesterday, with worries over the global economic recovery weighing down on stocks. Crude oil also fell as investors reacted to the disappointing government report, which last Friday showed that only 120,000 US jobs were created in March – well below expectations [...]
Portable hotel firm looks for a home on Aim April 9, 2012 SNOOZEBOX, which provides portable hotel rooms at festivals and sports events, plans to float on the Alternative Investment Market (AIM) by the end of the month. The firm, whose upmarket rooms offer flatscreen TVs, Wi-Fi and air conditioning, has hired Panmure Gordon to help it raise £10m to fund expansion. “I’m quite a big fan [...]
Qatar may ease Glencore’s path to Xstrata deal April 9, 2012 QATAR has built its stake in mining giant Xstrata up to five per cent, in a move that bankers said could help smooth the path of a £23bn merger with Glencore. The Qatar Investment Authority has boosted its Xstrata holding, worth £1.7bn at current prices, to five per cent through stock market purchases, up from [...]
Korea Development Bank inks deal for HSBC local retail base April 9, 2012 KOREA Development Bank, part of state-owned KDB Financial Group, said yesterday it has signed a memorandum of understanding to buy HSBC Holding’s retail businesses in South Korea. No value was given to the deal, which will see KDB acquire 11 HSBC branches, including all deposits and mortgage-lending bonds. Kang Man-soo, the chairman of the Korean [...]
Tesco facing investor pressure over strategy April 9, 2012 A MAJOR shareholder in Tesco has called on the retailer to rethink its strategy and improve its struggling domestic business. Legal & General Investment Management said the company needed to think about its capital allocation and return on capital. “It needs to think long and hard about what it wants to be — can it [...]
Sony set to cut 10,000 jobs as part of revamp April 9, 2012 TECHNOLOGY group Sony is thought to be cutting 10,000 jobs, about six per cent of its workforce, as new chief executive Kazuo Hirai looks to steer the electronics and entertainment giant back to profit after four years in the red. Investors will closely monitor a briefing on Thursday by Hirai, who formally took over this [...]
