Cazoo shares rise on New York debut in fast start to firm’s ‘next chapter’ August 28, 2021 Used car platform Cazoo ended its first day of trading as a public firm up 7.6 per cent after the firm made its long-awaited stock market debut yesterday. The $8bn float, which makes serial entrepreneur Alex Chesterman’s latest project the most valuable US listed UK firm, came after it completed its merger with SPAC Ajax [...]
Cazoo cash: Newspaper tycoon Lord Rothermere moves closer to taking Daily Mail private August 27, 2021 The successful listing of used car business Cazoo means that newspaper tycoon Lord Rothermere moves a step closer to taking the company behind the Daily Mail, Mail on Sunday and Metro newspapers private. DMGT owned a stake in Cazoo and Lord Rothermere had said if the company could join the New York Stock Exchange successfully, [...]
‘Next chapter’ starts for Cazoo as firm lists via New York SPAC : CityAM August 27, 2021 Used car platform Cazoo made its long-awaited stock market debut today as the firm went public in New York with a valuation of $8bn. The float, which makes serial entrepreneur Alex Chesterman’s latest project the most valuable US listed UK firm, came after it completed its merger with SPAC Ajax I. Also Read: Cazoo goes [...]
Forbes to go public through $630m Spac deal August 26, 2021 The publisher behind Forbes magazine has unveiled plans to go public through a blank-cheque deal that will value the company at $630m (£460m). The merger with Magnum Opus Acquisition Limited will raise around $600m for the business information brand. The deal also includes $400m in Pipe [private investment in public equity] funding that includes funds [...]
Judges announced for next month’s Crypto AM Awards 2021 August 25, 2021 Introducing the judges for September's Crypto AM Awards 2021.
SEC issues new disclosure rules for Chinese companies to list in New York August 24, 2021 The US Securities and Exchange Commission (SEC) has issued new disclosure requirements to Chinese companies seeking to list in New York amid Beijing’s regulatory crackdown. The SEC has started to give some Chinese companies detailed instructions about greater disclosure of their use of offshore vehicles, known as variable interest entities for IPOs, implications for investors, [...]
CMA to probe S&P Global’s £33bn takeover of IHS August 23, 2021 The Competition and Markets Authority (CMA) has just announced the launch of an inquiry into S&P Global’s £33bn takeover of IHS Markit Ltd. The CMA gave notice today that it plans to investigate the anticipated merger between credit ratings giant S&P Global and IHS Markit. The deadline for its decision on whether the merger is [...]
Morrisons’ messy and dramatic takeover battle: Where are we now? August 20, 2021 Morrisons agreed a £7bn offer late last night in the latest twist in the UK supermarket chain’s dramatic takeover battle. Shares jumped this morning after investors digested the new deal from US private equity firm Clayton, Dubilier & Rice (CD&R). It comes weeks after a rival bidder, a consortium led by private equity rival Fortress, [...]
Space SPAC: Seraphim-backed satellite firm Spire makes New York debut August 18, 2021 Space investor Seraphim has announced its portfolio company Spire, which provides satellites for space, has debuted on the New York Stock Exchange after becoming the latest space company to close a merger via SPAC. Spire has merged with special acquisition company NavSight Holdings, which valued the satellite firm at $1.6bn in equity. The new combined [...]
Hong Kong IPOs run dry amid concerns over China’s regulatory scrutiny August 16, 2021 The global financial hub has seen only one initial public offering so far this month, as Hong Kong’s investors are spooked by China’s tightening scrutiny across sectors. International investors have long used Hong Kong as gateway to China, but they are increasingly concerned by Beijing’s policies, ranging from technology and education to food and health [...]