Kazakhstan’s Kcell says City is a key IPO hub November 13, 2012 VEYSEL Aral, the chief executive of Kazakhstan’s largest mobile telephone operator, Kcell, said yesterday his group was planning a public listed offering in London because the UK capital had a “sophisticated investor base” and was a “key hub for emerging markets companies”. Kcell’s decision to list its shares here and in Kazakhstan is a boost [...]
ENRC investors back $650m coal purchase April 2, 2012 INDEPENDENT shareholders in ENRC yesterday approved the Kazakh miner’s $650m (£405.7m) acquisition of the outstanding 75 per cent of Kazakh coal producer Shubarkol Komir from its founder investors. At a meeting yesterday, 96 per cent of the shareholders that voted supported the deal, ENRC said. Shareholders – excluding the three founder investors – had been [...]
SHAKE-UP LOOMS AT MINER ENRC March 18, 2012 MEHMET Dalman (pictured), the new chairman at London-listed mining group ENRC, has asked several board members to resign, according to the Sunday Times. Dalman took up the post last month with permission to shake up the board. The Kazakh government last year staged a dramatic boardroom coup that ousted City grandees Sir Richard Sykes and [...]
FTSE falls on uncertainty over US election and fall in price of copper November 5, 2012 BRITISH blue-chip firms fell yesterday as investors eased back on risky plays ahead of US elections, with miners among the top fallers as they continued to suffer from the low price of copper. At the close, the FTSE 100 was down 29.490 points, or 0.5 per cent, at 5,839.06, in thin trading volumes of 70 [...]
The markets don’t sleep during the festive period December 17, 2012 OVER the Christmas period, equity markets are often seen as offering slim pickings for spread bet and contract for difference traders. Granted, there’s the prospect of a Santa rally, but otherwise the FTSE-100 index tends to end up trading in tight ranges as volatility ebbs away. Underlying volumes are low, traders generally aren’t at their [...]
Shake-up for ENRC’s board as profit dips March 21, 2012 MINER ENRC yesterday signalled that it would be making more boardroom changes as it reported profits which fell short of City forecasts. The FTSE 100 company said pre-tax profits fell 7.5 per cent to $2.8bn (£1.7bn) after hits due to the rising cost of labour and energy. Revenues rose 17 per cent to $7.7bn last [...]
Don’t scare away signs of life in City flotations market November 15, 2012 After several nerve-wracking days’ delay, Alisher Usmanov’s telecoms group Megafon finally launched its London IPO yesterday, giving the moribund market a timely boost ahead of the naturally quiet festive season. Megafon’s flotation, which is expected to raise more than £1.5bn for the selling shareholders, will run just slightly ahead of the London and Almaty float [...]
Don’t scare away signs of life in City flotations market November 15, 2012 After several nerve-wracking days’ delay, Alisher Usmanov’s telecoms group Megafon finally launched its London IPO yesterday, giving the moribund market a timely boost ahead of the naturally quiet festive season. Megafon’s flotation, which is expected to raise more than £1.5bn for the selling shareholders, will run just slightly ahead of the London and Almaty float [...]
FTSE 100 slips lower as investors wait for fresh stimulus from central banks August 15, 2012 TOP shares fell yesterday in sluggish volumes as weakness in index heavyweights such as miners, tobaccos and Vodafone outstripped gains in financials. London’s benchmark FTSE 100 index closed down 31.74 points or 0.5 per cent at 5,833.04, erasing the previous session’s gains and fluctuating in a tight range between 5,800 and 5,900 in volumes just [...]
ENRC output hit by repairs to equipment February 1, 2012 KAZAKH mining group ENRC yesterday revealed that output from its key ferroalloys and iron ore divisions was badly dented in the fourth quarter of 2011 by the need for emergency repairs. The London listed miner said production of ferroalloys dropped in the quarter, with the division suffering as a furnace malfunctioned. Saleable output dived by [...]