Jackpotjoy-owner Gamesys agrees £2bn takeover deal with US casino owner Bally’s March 24, 2021 US casino owner Bally’s has agreed a takeover deal for Jackpotjoy-owner Gamesys in a move which could value the UK firm at more than £2bn. Shares in online gambling firm Gamesys soared after Bally’s told US investors it had agreed on key terms regarding a potential deal. Bally’s Corporation, which operates casinos and racetracks in [...]
Burford Capital restores dividend following record year for realised gains March 24, 2021 Burford Capital has restored its dividend to its pre-pandemic level of 12.5 cents per share, and plans to pay out a full dividend in June, despite not paying an interim dividend in December 2020. The litigation founder enjoyed a record year for realised gains. The group saw asset realisations up 72 per cent this year [...]
SFO closes investigation into Texan engineering company KBR’s UK subsidiary March 18, 2021 The Serious Fraud Office (SFO) has closed its bribery and corruption investigation into KBR’s UK subsidiary after four years. In a statement today the SFO said: “The evidence in this case did not meet the evidential test as defined in the code for crown prosecutors.” KBR, a Texan engineering, procurement and construction company listed on [...]
Richard Branson’s Virgin Orbit plots $3bn listing via Spac March 12, 2021 Billionaire Sir Richard Branson is continuing to pile into blank-cheque vehicles and is now seeking a public listing for his own satellite-launch company. Virgin Orbit has hired bankers to explore going public through a special purpose acquisition company (Spac) for up to $3bn, according to the Wall Street Journal. It has hired Credit Suisse and [...]
Branson backs New York-listed SPAC aiming to raise $500m March 10, 2021 No stranger to the Spac phenomenon taking equity markets by storm, Richard Branson is backing another New York-listed blank-cheque vehicle. Virgin Group Acquisition Corp III is looking to raise as much as $500m through a public listing, according to a regulatory filing published on Tuesday. Founded by Branson the company will be led by Josh [...]
AgriDex selects L3COS and tokenisation for $9 trillion global food and agriculture marketplace March 10, 2021 Global food and agriculture industry supply chain platform AgriDex has selected L3COS to create its blockchain-based transparent marketplace.
Spac-tacular: The City welcomes overhaul of stock market listings March 3, 2021 The US phenomenon of Spac listings could soon make its way to the City after a government-backed report called for widespread reform in the stock market. Lord Jonathan Hill’s report into London’s listing requirements called for regulators to allow blank-cheque vehicles to list in the capital as well as to ease other listing restrictions. It [...]
Spac revolution set to unlock Big Bang 2.0 for the City of London March 3, 2021 The UK is set to spark a second Big Bang for the City post-Brexit, with a landmark government report calling for regulators to allow Spacs to list in London and ease a range of share listing restrictions. Lord Jonathan Hill’s report into future financial services regulation, released today, calls for a range of deregulatory measures [...]
Budget 2021: Sunak to outline post-Brexit regulatory shakeup for the City of London March 2, 2021 Rishi Sunak will outline plans to improve the City of London’s post-Brexit competitiveness in tomorrow’s Budget as he releases a highly anticipated report from the UK’s former EU commissioner for financial services. Sunak is planning to create a new stock listings regime in London to compete with other global financial centres that have benefited from [...]
Corporations buy Bitcoin’s dip, JPMorgan says investors can allocate 1% of portfolios to BTC March 1, 2021 Corporations move to buy the dip as JPMorgan says investors can allocate 1% of portfolios to Bitcoin.