Russian gold miner Zapadnaya the latest to plot a London IPO July 13, 2011 RUSSIAN gold mining firm Zapadnaya is the latest in a string of firms from the country to plot a London initial public offering, as it presses ahead with its plans to go public amid turbulent market conditions. The company is in the early stages of pre-marketing talks with investors, with no date yet set for [...]
Phosagro lists in London for $538m July 13, 2011 RUSSIAN fertiliser group Phosagro priced its London share sale yesterday, raising $538m (£337m) to pursue acquisitions. The offer valued the firm at $5.2bn, significantly lower than early analyst estimates of up to $8.7bn. It priced its initial public offering (IPO) in the lower half of its initial range at $14 per global depository receipt, or [...]
Phosagro is latest group to get float off the ground July 12, 2011 THE Russian fertiliser group Phosagro has narrowed the range for its planned London initial public offering (IPO) and is on track to float today with a market capitalisation of around $5bn (£3.14bn). The company, whose shares are scheduled to begin trading on the London stock exchange today, narrowed the price range for shares to $13.75-$15.75 [...]
London’s troubled IPO market sees signs of life July 11, 2011 WHISPER it softly, but there are signs that the iciness that has characterised the London IPO market is beginning to thaw. Over the past couple of weeks, two foreign-based groups, Ophir Energy and Global Ports, have successfully raised funds in the London markets, in contrast to the many groups who have had to pull their [...]
Kolobnev fails doping test July 11, 2011 TOUR DE FRANCE: Cycling’s world governing body announced last night that Russian rider Alexandr Kolobnev has failed a doping test during the Tour de France. The UCI said 30-year-old Kolobnev, of the Katusha team, had given a urine sample which contained the diuretic hydrochlorothiazide, a prohibited ‘specified substance’.
ROTHSCHILD COURTS OLIGARCHS UNDER £1M MONTENEGRO SKIES July 10, 2011 BIG BUSINESS came to Montenegro this weekend, lured by the £1m fortieth birthday celebrations for Nat Rothschild, the billionaire scion of the Rothschild banking dynasty. Peter Mandelson, Russian investor Oleg Deripaska and Chelsea owner Roman Abramovich were among the 300 oligarchs and mining magnates who flew to “the St Tropez of the Adriatic” for the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 6, 2011 FINANCIAL TIMES SPOTIFY SIGNS DEAL WITH VIRGIN Spotify and Virgin Media on Wednesday announced a deal that could help the music streaming service boost numbers of paying customers and reach a wider audience. By the end of the year, Virgin Media’s 4m UK customers will be able to access Spotify’s catalogue of 13m songs through [...]
PhosAgro share sale fully covered July 6, 2011 RUSSIAN fertiliser group PhosAgro has taken enough orders to fully cover its $500m (£312m) London share sale. The order book for shares being sold in the company was fully covered by the end of last week, just days into its roadshow of investors. Bankers on the deal went out with a fully covered message yesterday. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 3, 2011 FINANCIAL TIMES JLR IN 50 PER CENT BOOST TO SPENDING Jaguar Land Rover is to boost its spending on products by 50 per cent from about £1bn to £1.5bn as the UK’s largest premium carmaker prepares to launch the most important vehicle since Tata Motors bought the group from Ford Motor three years ago. CHI-X [...]
HMV to move away from stocking CDs June 30, 2011 STRUGGLING retailer HMV has said it will cut back on stocking CDs and DVDs to focus on consumer electronics and live music events. The music group, which has been selling off assets in a bid to secure its future, posted a 61 per cent drop in annual profit yesterday. HMV said it had seen pre-tax [...]