In-Deed is set for AIM float to build cash June 14, 2011 RIGHTMOVE founder Harry Hill will today list his new conveyancing project on the Alternative Investment Market. In-Deed, which Hill launched with private funding last month, is raising £1.58m by placing 3.77m ordinary shares with institutional and other investors, the firm will announce to the stock market today as its shares commence trading. After the IPO, [...]
The writing was on the wall for Focus DIY June 14, 2011 AT the start of last month the Focus DIY chain entered administration. BrandIndex data gives us a read on the problems that they have had for a long period. When we compare them to their competitors (B&Q, Homebase and Wickes) we can see that they were the least talked about, and when people did talk [...]
Air Partner says charter business is firmly on track June 14, 2011 AIR Partner, the British air charter firm, said yesterday that demand for emergency evacuations and charter flights has put its business firmly on course for growth. The company, which supplies planes to governments and industry, organised 70 flights over a four-week period for humanitarian aid relief to New Zealand and Japan following the earthquakes. “We [...]
Glaxo vaccine drive accelerates as it buys out its Chinese flu joint venture June 14, 2011 UK-BASED healthcare giant GlaxoSmithKline yesterday announced a deal to acquire the remaining 51 per cent of Chinese drug maker and joint venture partner Shenzhen Neptunus Interlong Bio-Technique, for £24m. Once the agreement is approved by Chinese authorities, Glaxo will become the sole owner of the joint venture Shenzhen GSK-Neptunus Biologicals or GSKNB. Established in June [...]
China Everbright plans $6bn Hong Kong listing June 14, 2011 CHINA Everbright Bank is planning to raise about $6bn (£3.7bn) in a Hong Kong initial public offering, according to a term sheet of the deal. The lender plans to issue 10.5bn shares as part of the deal. China Everbright Bank is set to kick off pre-marketing by as soon as next week, with listing scheduled [...]
Polar Capital triples its profits June 14, 2011 Fund manager Polar Capital beat forecasts for full-year profit yesterday and said assets surged over the past two months as client inflows helped it through May’s choppy markets. Assets jumped 11 per cent to $4.3bn between the end of March and the end of May, as clients invested in its technology, Japan, insurance and healthcare [...]
Oxford buys nano-tech company June 14, 2011 Technology group Oxford Instruments yesterday unveiled its £28.1m purchase of nano-technology group Omicron as it ploughs on with expansion plans. The acquisition will be part-funded by a share placing run by JP Morgan Cazenove, which raised £39m yesterday, the firm added. Oxford’s revenues rose 24 per cent to £262.3m in the year to the end [...]
Pursuit Dynamics widens losses June 14, 2011 Food and drink tech firm Pursuit Dynamics suffered a 13 per cent share price fall yesterday after it admitted that its operating losses had doubled to £7.16m for the six months to the end of March. The firm announced several new contracts alongside the figures, however, and chief executive Roel Pieper said he was confident [...]
CITY MOVES | WHO’S SWITCHING JOBS June 14, 2011 Lloyds TSB Lloyds TSB Commercial Finance has appointed Gary Lapthorn as marketing and external affairs director. In his new role, Lapthorn will lead the asset-based finance division’s marketing team to help businesses access appropriate finance. Lapthorn, who has been at Lloyds Banking Group for a number of years, joins from the bank’s commercial division, where [...]
BEST OF THE BROKERS June 14, 2011 VODAFONE Credit Suisse rates the telecoms group “buy/low risk” with a target price of £1.95. The broker expects to see Vodafone’s relationship with Verizon to soften over the coming months, giving room for dividends and a clearer picture of a possible merger or other-tie in between the two. The broker was also pleased with the [...]
