Shares in Global Ports close up 18pc following London IPO June 29, 2011 SHARES in Russian port operator Global Ports soared yesterday on its debut on the London Stock Exchange, following its successful $534m (£333m) initial public offering (IPO). The banks handling Global Ports’ IPO also exercised an over allotment option to buy shares in the company, pushing up the proceeds from the sale to $588m. The container [...]
Discount IPO for PhosAgro June 28, 2011 RUSSIAN fertiliser producer PhosAgro has priced its joint London and Moscow share sale at a deep discount, as it looks to raise up to $500m (£312m). The phosphate fertiliser firm has set a price range of $13 to $16.50 per global depository receipt (GDR), valuing the company at as much as $6.1bn. The listing price [...]
Nissan in bid to lift market share with new vehicles June 27, 2011 NISSAN Motor yesterday outlined plans to boost both its global market share and profit margin to eight per cent within six years, promising a new vehicle every six weeks on average to woo consumers away from rivals. The new mid-term business plan, dubbed Nissan Power 88, will focus on the major emerging markets of Brazil, [...]
UK needs firm Russian links for Soviet revival June 26, 2011 As I prepare to lead a senior City business delegation to Moscow and St Petersburg, economic winds of change seem to be blowing across Russia. There is no doubt that Russia is an economic powerhouse, with the country’s sheer size and abundance of natural resources ensuring it is an important player on the global stage. [...]
DEALMAKER OF THE YEAR June 23, 2011 Recessions are when reputations are made, they say, and that has been true in the world of fund managers. While some have battened down the hatches, the ones on our list have seen opportunity in crisis, and pushed ahead with flotations and expansions, or have just taken the chance to expand. All are stars in [...]
Russia’s lucrative residential offering June 23, 2011 WITH luxury property developer Yoo launching two new developments in Moscow this year, buying a home in Russia’s booming financial hub looks a more tempting prospect. While the heady days that saw Moscow’s property prices rocket 110 per cent in value are behind us, the more mature market for homes in Moscow is still intriguing. [...]
Walker Greenbank profit in China June 22, 2011 Upmarket wallpaper seller Walker Greenbank has seen an eight per cent rise in underlying revenues in the first four months of the year. The luxury furnishings group, whose brands include Sanderson and Morris & Co, reported a hike of 13 per cent in international sales, with the highest demand in Russia and China.
ANALYST OF THE YEAR June 22, 2011 IT TAKES strong-minded individuals with deep knowledge of the sectors they cover to make calls that challenge popular thinking, but the five thinkers on CITY A.M.’s shortlist for Analyst of the Year have won respect for going against the grain – whether being sane on the Glencore IPO or criticising the Bank of England’s interest [...]
BORIS BROTHER PLOTS HIS PASSAGE TO INDIA June 21, 2011 FOR ONCE, Boris Johnson wasn’t the centre of attention. Instead, his brother Jo Johnson MP took the spotlight at the Number 11 Downing Street reception to launch Reconnecting Britain and India, the book of essays Johnson co-edited with the Indian Chambers of Commerce secretary general Dr Rajiv Kumar. Rachel Johnson, editor of The Lady, was [...]
INVESTMENT BANK OF THE YEAR | The Shortlist day 3 June 21, 2011 This hasn’t been the easiest of times for investment banks but there are signs that deal activity, at least, is picking up to more normal levels. We have chosen JP Morgan because, as ever, it has shown itself to be strongly placed in most markets. Bank of America Merrill Lynch is something of a recovery [...]