Marshall Motors IPO: Stealth flotation values car dealership at £115m March 30, 2015 Car dealership Marshall Motor Holdings (MMH) revealed a successful flotation on the Alternative Investment Market (Aim) yesterday, raising £50m from investors. The deal, which values the group at around £115m, was run as a so-called stealth initial public offering (IPO) by investment bankers at Investec. That means the stock market debut was not pre-announced [...]
Sanne Group to raise £142m through IPO March 27, 2015 Independent fund and corporate administration provider Sanne Group is set to raise £141.6m in a deal that values it at £232m when it lists on the London Stock Exchange on 1 April. Current owner Inflexion said the IPO had generated a realised and unrealised return of 3.7 times its original investment. Shares in Sanne, for [...]
Accounts with benefits: The perks of premium bank accounts March 26, 2015 Nothing says “badge of success” quite like a private bank account. Historically, offering them to customers has been the preserve of the private bank, but in recent years, growing numbers of high street institutions have begun to offer packaged – or premium – accounts to customers with substantial savings and (more often than not) six-figure [...]
Barclays and ARM weigh on FTSE amid a little sun from TUI – London Report March 25, 2015 BRITAIN’S leading share index gave up early gains yesterday, led down by a late drop in chip designer ARM and a fall in Barclays after a broker downgraded the stock. The blue chip FTSE 100 index was down 28.71 points, or 0.41 per cent, at 6,990.97 points by the close, having hit a record intra-day [...]
Cricket Comment: KP and Cook are grown men and may have to forget disagreements March 25, 2015 The Surrey squad were taking part in a pre-season inter-squad practice game at the Oval yesterday when the news of Kevin Pietersen’s return to the club was confirmed. What a great signing he is. Kevin is world class and hopefully he will score the volume of runs he needs to put pressure on the England [...]
Best of the Brokers for 24 March 2015 March 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com INVESTEC Numis reiterated its “hold” rating on the asset management group following its pre-close update. The broker said it had made some “very modest forecast changes” as a result of the update, with predicted earnings per share revised downwards, from 36.4p to 35.6p. [...]
Celebrities are racing to be the ambassadors of Investec Derby March 18, 2015 THE STARS started shining on June’s Investec Derby Festival at Epsom with yesterday’s announcement of its 2015 celebrity ambassadors. And it’s the fourth year that City A.M. is the official newspaper of the Derby, the greatest flat race in the world. The ambassadors are a diverse lot: former Epsom champion Frankie Dettori, Olympic Gold medalist [...]
Cricket Comment: Now Trott should open for country March 18, 2015 BATSMAN Jonathan Trott holds a proven record at international level so having a class player like him back in the squad for their three-Test tour of the Caribbean next month can only benefit England. There is going to be a lot of attention on his first return, having left the 2013-14 Ashes tour with a [...]
Losses double at tech firm WANdisco after year of rapid growth March 17, 2015 SHARES in tech firm WANdisco crashed yesterday, closing down 12.39 per cent after preliminary results revealed an almost doubling of losses last year to $39m (£26m) from $20m the year before. The firm’s pre-tax profit was hit despite the company recording a 40 per cent increase in revenue, from $8m to $11.2m in the year [...]
City Moves for 17 March 2015 | Who’s switching jobs March 16, 2015 Investec Investec Investment Banking has appointed Serge Rissi as a director in its financial sponsor transaction group. He has 15 years of M&A experience, and most recently worked as a director at Quayle Munro. Rissi has also held roles at UBS Warburg and Hawkpoint. Rathbone Brothers The investment management firm has announced the appointment of [...]