Rapid responses December 20, 2012 The Russian way [Re: Russian business stereotypes need to be consigned to the distant past, yesterday] For hundreds of years, Russia was part of Europe and the wider international community. Communism was a short diversion and, since 1991, the country’s integration has become more and more obvious. On the one hand, this means the West [...]
Football flotations December 19, 2012 ■ In 1983 Tottenham became the first English football club to float on the London Stock Exchange (LSE). On 16 January this year, it was delisted by ENIC – the investment vehicle of billionaire businessman Joe Lewis. ■ Manchester United floated on the LSE in 1991 while under the chairmanship of Martin Edwards. The move [...]
Russian business stereotypes need to be consigned to the distant past December 19, 2012 BRITISH statesman Lord Curzon once famously said that every Englishman enters Russia a Russophobe, and leaves it a Russophile. Though time has passed since the Great Game of Rudyard Kipling, the saying is still relevant. According to a recent Economic Intelligence Unit survey of 200 international senior executives, less than 15 per cent would view [...]
Usmanov bids to bring Henry back to Arsenal in director roles December 13, 2012 BILLIONAIRE Arsenal shareholder Alisher Usmanov has reignited the battle for the club with under-fire owner Stan Kroenke by lining up Gunners hero Thierry Henry for a return in a key boardroom role. Usmanov wants record goalscorer Henry to return to Emirates Stadium and take up an off-field role similar to that of former team-mate Patrick [...]
London finishes the year with a last minute flotation flurry December 12, 2012 Weather permitting, Veysel Aral and his team will be at the offices of the London Stock Exchange on Monday morning to celebrate a coup. For Aral has become the latest of an elite batch of chief executives who have managed to float their companies on the London Exchange’s main market this year Aral runs Kcell, [...]
Kcell succeeds with London IPO December 12, 2012 LONDON saw another successful listing from central Asia as Kazakhstan telecoms firm Kcell’s initial public offering (IPO) priced yesterday. The deal came in at the bottom end of the price range, with the global depository receipts (GDRs) in London coming in at $10.50, pricing the 25 per cent stake in the firm at $525m (£324.7m) [...]
What the other papers say this Morning December 11, 2012 FINANCIAL TIMES Call for cleaner succession strategies Companies must improve their succession planning and make sure they have strong candidates ready to take the helm as chief executive, or risk undermining shareholder value and damaging market performance. The Association of British Insurers (ABI), which represents some of the UK’s biggest investors, gave the warning as [...]
Polymetal buys Olcha deposit December 11, 2012 Russian gold producer Polymetal yesterday acquired the Olcha gold-silver deposit licence, which covers 2.5 square kilometres in the Far East of Russia, from junior stock market listed Ovoca Gold in exchange for 775,000 ordinary shares in Polymetal. Chief executive Vitaly Nesis said yesterday that the acquisition of the deposit marks a “natural extension” of its [...]
Kcell IPO fully covered ahead of subscription deadline December 11, 2012 Kazakhstan-based mobile telecoms group Kcell has its book largely covered ahead of closing on its London float later today, according to sources close to the situation. It is understood orders are flooding in from Kazakhstan, with the possibility that the book could be oversubscribed. The news will provide a welcome boost to London’s struggling market [...]
Kcell on track for IPO pricing by next week December 6, 2012 KCELL, the leading Kazakhstan-based mobile telecommunications group, is expecting to close the books on its London and Almaty-based flotation by Tuesday evening, with bankers reporting healthy demand. The group’s management team, led by chief executive Veysal Aral, finished seeing institutions in Moscow earlier this week before travelling to London. The group, which is offering a [...]