London tech stars to share £1.4bn from King.com float March 12, 2014 KING Digital Entertainment, the British firm behind hit mobile game Candy Crush Saga, expects to reach a $7.6bn (£4.5bn) valuation when it lists on the New York Stock Exchange this month, making its senior staff overnight multimillionaires. The company’s 22.2m shares are set to be priced between $21 and $24, according to an updated filing [...]
Fyffes to merge with Chiquita in appealing deal March 10, 2014 TWO OF the world’s largest banana rivals Fyffes and Chiquita unveiled a merger yesterday to create a $1bn (£600m) banana behemoth. US-based Chiquita and Irish-based Fyffes will come together in an all stock deal, creating a new $1.1bn company called ChiquitaFyffes listed on the New York Stock Exchange. The deal, which still requires approval from [...]
The world’s biggest banana company: Fyffes and Chiquita to merge March 10, 2014 Some banana news this morning. Fyffes and Chiquita, two of the world’s largest banana companies, have announced they’re combining. Fyffes shares have rocketed an astonishing 26 per cent on the news. Source: Google The company will be named ChiquitaFyffes (best not to attempt that with a mouthful of banana), and will operate in [...]
What the other papers say this morning – 10 March 2014 March 10, 2014 FINANCIAL TIMES Spotify’s credit line hints at IPO Spotify has secured a $200m credit facility from lenders including Morgan Stanley, bringing the Swedish music company a step closer to a potential initial public offering in the US, according to people close to the deal. The Stockholm start-up, which last year sold equity that implied a [...]
Just-Eat dials up bid to debut on growth market February 23, 2014 FAST food site Just-Eat is sharpening plans to list on the new high-growth segment (HGS) of London’s main stock market, making it the first company to join the fledgling platform if it pulls the trigger on the plans. The company’s backers are understood to be examining a proposal to offload just 10 per cent of [...]
Q and A: High growth segment February 23, 2014 Q What’s the High Growth Segment? A It’s an attempt by the London Stock Exchange to keep British technology firms in the country, rather than waving off the UK’s next answer to Google as it takes the well-trodden path to the Nasdaq or NYSE once it becomes big enough to list. Q What makes it [...]
The West has killed its entrepreneurs and replaced them with bureaucrats February 23, 2014 IF WESTERN economies have lost considerable ground to emerging powers over the last two decades, it is not simply because we lack the cheap labour of China and India or the natural resources of Russia and Brazil. It is because we have killed our own entrepreneurs at a time when our competitors made business creators [...]
The Federal Reserve has finally released minutes from its 2008 meeting February 21, 2014 The minutes from the 16 September 2008 meeting of the Federal Open Market Committee have finally been made public. That meeting took place the day after Lehman Brothers went bust. Then Federal Reserve chairman Ben Bernanke sums up the mood pretty well: Obviously, we started late. We have a lot to talk about. Bernanke didn't [...]
DEAL FRENZY: Pets At Home lines up to follow King, Poundland and ISS to market February 18, 2014 STOCK markets roared back into life yesterday after discount retailer Poundland, Candy Crush Saga producer King Digital Entertainment, and services firm ISS fired the starting gun on flotation plans, with UK pet store Pets at Home expected to follow suit as soon as today. UK retailer Poundland revealed plans to list in London in March, [...]
Bottom Line: London just needs to wait a bit for lift-off February 18, 2014 ON ONE level and after a superficial look at developments, it might seem as if London is in danger of missing out on the impending flood of new issues that are about to hit the financial markets. Yesterday’s flurry of statements revealed that ISS, the giant services group, is floating in Copenhagen; King.com has chosen [...]