Asos Indian rival Koovs raises £22m in London market debut March 10, 2014 AN INDIAN online fashion retailer set up by the former chairman of Asos launched on London’s Aim yesterday after raising raised £22m via a share placing. Shares in Bangalore-based Koovs were placed at 150p but jumped to 184p last night, valuing the company at around £44m. The company was founded in 2012 by Lord Alli [...]
Investors in last minute dash to grab Poundland March 10, 2014 BUDGET chain Poundland will close the books on its forthcoming London float tomorrow night, with a late surge in demand meaning the offer could end up 10 times oversubscribed. The high street store has so far seen solid demand from institutional investors keen to buy shares, helping back an early decision by the firm not [...]
Moonpig owner is set for £500m listing in London March 10, 2014 PHOTOBOX is preparing for a London Stock Market listing that could value the photo printing group at up to £500m, after the £1.6bn flotation of online retailer AO World and upcoming flotation of Pets at Home whetted investors’ appetites for London retail stocks. The firm, which sells personalised t-shirts, mugs and cards as well as [...]
Terence Conran cedes control of business to son March 10, 2014 SIR TERENCE Conran has handed over full control of his design empire to his son Jasper, to focus on his work with the Design Museum and expanding his chain of Albion cafes. The 82 year-old designer, restaurateur and founder of the Habitat brand has stepped down as chairman of Conran Holdings but will remain on [...]
Here’s the new app you can use to check your cash is real March 7, 2014 The Bank of England (BoE) has just announced the release of its new banknote app. The app provides the user with an interactive touch screen guide to the BoE's banknotes as well as checks on their security features. The £20 note has eight such security features. The Bank says the app is free and aimed [...]
John Roberts defends adviser in £1.2bn float March 6, 2014 AO World’s blockbuster IPO was 18 months in the planning THE founder of the Bolton-based fridge retailer AO World, which has provided the most spectacular flotation in the London markets so far this year, yesterday staunchly defended the £12m fee his group agreed with Rothschild, the independent financial adviser on the deal. “£12m is a [...]
John Lewis pays 15pc bonus as sales beat M&S March 6, 2014 JOHN Lewis’s partners will share a reduced bonus pot equal to 15 per cent of the average staff salary as the retailer put more money aside to shore up its huge pension fund. The £202.5m bonus, which was announced to 91,000 John Lewis and Waitrose staff yesterday at stores across the country, is equivalent to [...]
Shaftesbury raises £157m to help acquisition spree in China Town March 6, 2014 SHAFTESBURY has bought a landmark property at the heart of London’s China Town next to the famous pagoda for £54.4m after raising £157m through a share placing yesterday. The West End developer said it has added a 50,000 square feet building on Newport Place to its £460m China Town portfolio and hopes to submit plans [...]
What the other papers say this morning – 5 March 2014 March 4, 2014 FINANCIAL TIMES Faith, hope and hedge funds for CoE The Church of England is ramping up the exposure of its £6bn endowment to alternative investments such as hedge funds and private equity in a move that will cement its position as one of the UK’s largest single investors in these types of assets. The Church [...]
City Moves for 5 March 2014 | Who’s switching jobs March 4, 2014 DAC Beachcroft The law firm has announced the appointment of Ruth Connorton as a commercial contracts partner. She specialises in non-contentious procurement matters. Connorton joins from Eversheds, where she was head of procurement law. Ashburton Investments The investment management firm has appointed Swati Jain to its London-based distribution team. She was most recently at IIFL Wealth, where [...]