WHAT THE OTHER PAPERS SAY THIS MORNING June 20, 2011 FINANCIAL TIMES ASTRAZENECA TO OFFLOAD SWEDISH DIVISION AstraZeneca is in final talks to sell Astra Tech, the Swedish healthcare and dental business, to Dentsply International in a deal that could value the group at about $1.8bn (£1.1bn). The US dental equipment maker has outbid other potential buyers, including private equity group EQT Partners and medical [...]
Investors flock to cheap Russian IPO June 20, 2011 RUSSIAN port operator Global Ports has received enough orders for 75 per cent of the shares it plans to offer in its up to $572m (£355m) London listing. The container terminal operator, a unit of Russian freight group N-Trans, began a roadshow to drum up interest in the company amongst investors just three days ago. [...]
Business weighs risks of Russian investment June 19, 2011 AS the St Petersburg International Economic Forum wrapped up over the weekend, the business leaders and investors who flew into Russia to see President Dmitry Medvedev outline his vision for attracting foreign investment into the resource rich former super power were hopeful that reform is finally on the way, but sceptical that the Russian leadership [...]
Dudley: BP committed to Russian joint venture June 17, 2011 Oil major BP remains committed to its Russian joint venture TNK-BP, chief executive Bob Dudley has said. Dudley also said that BP was looking at cooperation with state-controlled oil major Rosneft outside Russia, after the co-owners of TNK-BP blocked a deal to search for oil in the Russian Arctic and do a $16bn (£9.9bn) share [...]
Russian port owner prices discount float June 16, 2011 RUSSIAN firm Global Ports has priced its London initial public offering (IPO) at a deep discount, as it looks to raise up to $572m (£355m). The container terminal operator, a unit of Russian freight group N-Trans, set a price range of between $14.70 and $16.10 per global depository receipt (GDR). The list price puts shares [...]
Global Ports IPO to value company at $2.4bn June 16, 2011 Russian logistics group Global Ports is aiming to raise up to $578m (£354m) from its London initial public offering, valuing the company at up to $2.4bn. The group, owned by Russian conglomerate N-Trans, is pricing its 35m-share offer in a range from $14.70 to $16.10. The majority of the offer will comprise existing shares to [...]
Pandora sees stock surge on its debut June 15, 2011 PANDORA yesterday became the latest technology IPO to set the markets on fire, climbing over 60 per cent during the day after pricing well above the top of its range. The music streaming service floated at $16 (£9.86) a share after naming a range of between $10-12, a price that had already been increased from [...]
Baltic Oil suspended from trading on accounts delay June 15, 2011 SHARES in Aim-listed Baltic Oil Terminals were suspended yesterday, after the company admitted it would miss a deadline to provide shareholders with its audited accounts. Baltic was forced to refile its accounting records after irregularities were uncovered relating to its operations in Kaliningrad in Russia. Changes in the senior management team at Kaliningrad earlier this year [...]
Profit at Russia’s Sistema drops by a third as exchange rates bite June 15, 2011 RUSSIAN oil-to-telecoms holding company Sistema reported a 33 per cent fall in first-quarter net profit due to a smaller foreign exchange gain yesterday. Net profit fell to $97.2m (£59.7m), while net profit before one-offs rose 30.5 per cent to $102.3m. The company said sales rose 25.8 per cent to $7.8bn, driven by mid-size oil asset [...]
PhosAgro to try London’s IPO market June 14, 2011 FERTILISER producer PhosAgro is planning a Moscow and London initial public offering (IPO) worth more than $500m (£305m) next month, the latest in a string of Russian firms to test a lacklustre market for new listings. Launching the offering yesterday, PhosAgro chief executive Maxim Volkov said the company planned to float 10-15 per cent of [...]