New Look postpones IPO February 12, 2010 HIGH Street fashion retailer New Look has shelved its planned initial public offering (IPO) making it the third private equity-backed firm in as many days to abandon a flotation in turbulent financial markets. The decision to pull back from £1.6bn offering will cast a shadow over other IPO hopefuls, like travel firm Amadeus and online [...]
IPO market shaken as second firm quits February 11, 2010 The IPO market suffered another blow yesterday when Merlin Entertainments postponed its £2bn flotation. The industry was still reeling from the withdrawal of Travelport’s £2bn listing on Tuesday after it failed to secure enough subscriptions. The developments rocked the hopes of a string of firms planning to list in the coming months. Analysts say furniture [...]
Travelport scraps its £2bn float February 10, 2010 THE biggest stock market flotation in two years was sensationally pulled last night, in a move that will send tremors through the IPO market. The shock announcement came after the firm had already slashed the price range from 210p to 290p – valuing the company at £2.16bn – to just 180p to 190p. But a [...]
Ocado bullish about spring public listing February 7, 2010 ONLINE grocer Ocado will launch an audacious IPO in May which could value the company at £1.2bn. The firm, which delivers Waitrose food to doorsteps, hopes to raise an initial £160m from the flotation. This will wipe out its £55m debts and provide it with £100m to build a new distribution centre. A source close [...]
Waitrose sales jump by 15 per cent February 5, 2010 WAITROSE sales jumped by 15 per cent in the second half of last year. The figures mean Waitrose is fastest growing supermarket chain in Britain and come as Ocado – the online grocer that delivers Waitrose products – set a new record for the number of deliveries in a single day, of 17,500. New M&S [...]
Travelport in pole position in float queue January 17, 2010 TRAVELPORT looks set to become the most expensive company to float on the stock exchange in two years. It will be amongst the first in a slew of companies seeking an IPO in the coming months. The airline and hotel reservations firm, which operates in 160 countries, has plans for flotation in London and hopes [...]
M&S LEADS HIGH STREET RECOVERY January 4, 2010 HIGH street bellwether Marks & Spencer is this week expected to report its first sales growth in two years, boosting hopes that British consumers have cast aside their gloom and started spending again. The retail giant will update the market on Wednesday on how it fared over Christmas, with analysts expecting M&S to post like-for-like [...]
What to drink this Christmas December 6, 2009 Champagne As chosen by Esme Johnston, director of www.fromvineyardsdirect.comPerrier JouetBelle EpoqueCream and honey, brioche and lingering nutmeg notes make this special edition bubbly a delightful classic that’s wonderful with food or on its own. £86.95 at www.thedrinkshop.com Serge Mathieu Superb grower’s champagne, it’s nutty and golden with creamy richness and a light, punchy mousse. Great [...]
Banks hired by NewLook December 2, 2009 FASHION chain New Look yesterday edged closer to a possible £1.7bn stock market flotation by handpicking banks to work on the deal. The budget fashion chain, owned by private equity firms Apax and Permira, has chosen to work with JP Morgan Cazenove, Deutsche Bank and Credit Suisse. Lazard has acted as an adviser to the [...]
The tributes pour in as City A.M. gets to 1,000 October 22, 2009 GORDON BROWNPrime Minister“Congratulations to City A.M. on reaching a thousand editions. Your paper has kept both Westminster and the City informed at a time of great turbulence in the world economy.” SIR VICTOR BLANKFormer chairman, Lloyds Banking“City A.M. has developed into a quality newspaper which sparks boardroom debate with its insight and analysis. It is [...]