IPO values up despite strife June 27, 2011 THE TOTAL value of share offerings worldwide this year has hit its highest second quarter level since before the financial crisis, despite a near record number of floats having been pulled over the past three months. A combined total of $62bn (£38.7bn) worth of initial public offerings (IPOs) have been priced in the past three [...]
LAW FIRM OF THE YEAR | The Shortlist day six June 26, 2011 THOUGH pipeline deals that spurred record law firm profits last decade are yet to return, an influx of regulation and demand for innovative ways to raise capital means law firms are more in demand than ever. Whether running multi-billion pound IPOs or reforming how their businesses are run, our shortlisted firms are at the top [...]
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 [...]
FTSE tumbles to three-month closing low on energy worries June 23, 2011 MINERS and energy stocks were the worst hit members of Britain’s sharply lower FTSE 100 index yesterday, hit by heightened fears of a slowdown in global growth. The FTSE 100 ended down 98.61 points, or 1.7 per cent, at 5,674.38, its lowest close since 16 March when markets were plunging in the immediate aftermath of [...]
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. [...]
UBS BRINGS OUT IPADS TO SECURE €7BN FLOAT June 22, 2011 IT IS bigger than Glencore and the largest lottery IPO in history. So it is little wonder the global investment banks are pulling out all the stops to be appointed as advisers on the multibillion-euro float of the Spanish national lottery. The Spanish government hopes to raise between €6.5bn and €7.5bn by issuing 30 per [...]
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 [...]
Glencore denies plans to sell metal warehousing unit June 22, 2011 The world’s largest listed diversified commodities trader, Glencore said it had no plans to sell its metals warehousing unit. Metals traders have in recent days said Glencore was planning to sell its warehousing business. “It’s completely untrue,” a Glencore spokesman told Reuters. Glencore said in March it wants to boost its presence in metals warehousing [...]
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 [...]
TRADER OF THE YEAR June 21, 2011 They are far less visible than their counterparts in corporate finance or in the capital markets, but traders play a crucial role in many organisations. For this year’s selection we have chosen two traders for big banks, one hedge fund founder and one hedge fund trader. And then there’s a man from Glencore. Don’t miss [...]