Private equity IPOs help push up investment banking fees July 2, 2014 The surge in new stock market listings has helped to propel investment banking fees to pre-crisis levels, cushioning sluggish fee growth from relatively subdued M&A activity. Global investment banking fees for the first half of 2014 rose 12 per cent compared to 2013 to reach $47.1bn (£27.5bn), the biggest six-month haul since 2007, according to [...]
Twitter hires its IPO banker July 1, 2014 Twitter yesterday announced the appointment of former Goldman Sachs banker Anthony Noto as its new chief financial officer. Noto, who played a key role in driving forward Twitter’s flotation last year, joins the team just as the social media platform is struggling to add new users. Its share price that has plunged around 40 per [...]
Shelf Drilling pulls $500m IPO plan after investors get cold feet July 1, 2014 Oil-rig contractor Shelf Drilling is to pull its plan to float on the London Stock Exchange, citing insufficient interest to justify proceeding with the sale. Sources close to the deal told CityAM that the decision was made late Tuesday to cancel the initial public offering, which was set to raise at least $500m (£297m), despite some [...]
GoPro shares surge as IPO takes off June 27, 2014 Shares in wearable camera maker GoPro have surged by more than 60 per cent above its initial $24 IPO price during the first two days of trading. The stock rallied by 30 per cent on its market debut and has leapt even further today to above $37 at pixel time, Friday noon in New York. [...]
Liberty Living pulls London IPO due to market concerns June 26, 2014 Liberty Living has scrapped its plans for a listing on London’s main market less than a month after announcing its intentions, citing adverse market conditions. Liberty is a brand of the Dublin-listed student property fund Brandeaux, which was forced to suspend its shares last summer after it was overwhelmed by redemption requests by investors. “This [...]
EasyHotel IPO raises just half of £60m target June 25, 2014 EASYJET founder Sir Stelios Haji-Ioannou announced plans to float the budget hotel chain easyHotel on Aim next week but has raised just half of the £60m it had hoped to gain. The company, owned by the Greek billionaire’s easyGroup holdings, has priced its initial public offering (IPO) at 80p, valuing the business at £50m and [...]
Cycle shop Wiggle candidate for IPO after appointing advisers June 25, 2014 Cycle shop Wiggle’s private equity owner Bridgepoint is mulling plans to float the company on the London stock market. The private equity group, which owns Pret a Manger, has been working with Rothschild to explore options for the business, one of which may include a share sale. Nomura and Numis are also said [...]
EasyHotel IPO raises just half of target £60m June 25, 2014 EasyHotel has raised just half of the £60m it had hoped to gain for its 30 June IPO on the AIM market. The company has now priced its shares at 80p for the company's flotation on 30 June, implying a market capitalisation of £50m. The £30m the IPO is set to raise will be used to roll out [...]
Spire Healthcare announces IPO June 25, 2014 Spire Healthcare Group has announced its intention to float on the London Stock Exchange. The private hospital group's offer will include a proportion of new shares worth approximately £315m. Thye money raised will be used to pay off debts and cover the listing cost. The announcement follows the decision of Spire's private equity owners to [...]
Debate rages over buyout backed IPOs June 24, 2014 PRIVATE equity came under fresh pressure yesterday after another new listing struggled on its debut. Italian ratings agency Cerved, floated by CVC Capital, fell from €5.10 to €4.80 before recovering to €5 on its debut. AA, co-owned by CVC, also suffered weakness after a poor debut on Monday. Veteran investor Jon Moulton said a listing [...]