Russia’s MD Medical float is fully covered October 10, 2012 ORDER books are covered on the $300m London listing of Russia’s MD Medical Group (MDMG), according to three sources close to the deal. The offering includes $150m of global depositary receipts (GDRs) to raise money to fund the expansion of the company’s clinic and hospital network, as well as £148m of existing shares being sold [...]
800 firms face defined benefit pension deficit October 10, 2012 RESEARCH from the Pensions Regulator yesterday revealed that a quarter of the 2,000 company pension schemes due to agree a new funding arrangement by the end of year have a significant funding shortfall and would need to make large increases in additional payments to cover the deficit or make “substantial use” of other available facilities. [...]
Avanti misses but retains sky high ambitions October 10, 2012 SHARES in Avanti Communications, the satellite broadband company, took a 16 per cent hit yesterday as the firm said turnover had missed forecasts for the year. Avanti posted annual revenue of £15m, against the company’s guidance of £17.8m, and saw losses widen from £12.7m to £16m. Chief executive David Williams was positive about Avanti’s performance [...]
Facebook’s British employees are set to become millionaires October 10, 2012 FACEBOOK employees in the UK are set to cash in from the company’s initial public offering (IPO) this year, with London-based employees sitting on $146m (£91.2m) in shares. The social media giant’s UK accounts, published on Companies House yesterday, revealed that Facebook handed out around 7.3m shares in the company to London staff before it [...]
Analysts give mixed welcome as Bostock joins Asos board October 10, 2012 ANALYSTS yesterday welcomed the long-anticipated announcement that Asos has hired Kate Bostock to join its ranks but questioned whether the former Marks & Spencer executive would fit into the online retailer’s culture. Asos confirmed that Bostock, would join its board in January as executive director, product and trading. Bostock stepped down from her role as [...]
Bang & Olufsen hit by a decline in luxury spend October 10, 2012 DANISH electronics maker Bang & Olufsen yesterday reported flat quarterly revenue after strong sales of lower-priced products were outweighed by a steep decline at its top-end audio-visual unit. Sales of its cheaper B&O PLAY range, launched at the start of the year to win new and younger customers, rose 92 per cent, the company said. [...]
NetPlay boosted by signups October 10, 2012 Interactive gambling company NetPlay said a surge in new customers had led to a 34 per cent rise in sales in the third quarter of the year. Aim-listed NetPlay, which operates a freeview gaming channel as well as a number of online operations, saw a 42 per cent increase in players year-on-year to 22,417. Sales [...]
WANdisco’s rise continues October 10, 2012 Bookings for British software firm WANdisco have risen 86 per cent this year, continuing the company’s impressive performance since its Aim float in June. In the first nine months of the year, the company has generated total bookings of $5.3m (£3.3m), and has attracted blue chip names such as Nokia Siemens Networks. The share price [...]
Samsung in new Apple challenge October 10, 2012 Samsung will release a smaller version of its popular Galaxy SIII flagship smartphone in Europe today, the head of Samsung’s mobile business said, raising competition against Apple’s new iPhone. The model will be in direct competition with the iPhone 5, which was unveiled in early September and boasts a bigger, four-inch screen than its earlier [...]
Bonkers for bankers? All in favour say Aye October 10, 2012 “LONDON should love its bankers” was the motion debated at the Royal Geographical Society on Tuesday evening. Over 700 City folk, plus literary man Sebastian Faulks, headed west to Kensington to hear the Ayes and the Nays have it out. Speaking for the motion were Anthony Fry, chairman of Espirito Santo, and ex-Goldman bigwig Jennifer [...]
