It’s not just Nintendo’s share price that’s crumbling June 10, 2014 The news that Sony has overtaken Nintendo in terms of total number of console games for the first time in eight years has struck another blow to the House of Mario. While these figures reported by Japan's Nikkei business news site are no cause for celebration at Sony either – they are only ahead [...]
Saga hands Goldman Sachs and Bank of America broking roles June 9, 2014 SAGA, the insurer and holiday provider, yesterday appointed two of the banks that helped it list on London’s stock exchange as joint corporate brokers. Bank of America Merrill Lynch and Goldman Sachs will take on the mandate after acting as joint global co-ordinator and joint bookrunner on last month’s share offering. Bank of America’s Merrill [...]
London Report: FTSE near to a record high on global pick-up June 9, 2014 BRITAIN’S top share index extended its gains and closed near a record high yesterday, led by mining companies, amid signs a global economic recovery was picking up speed. The UK mining index rose 0.4 per cent, making it the biggest sectoral gainer in the FTSE 100 index. The gains came after China, the world’s biggest [...]
Short sellers in dash to bet on Saga share price fall June 9, 2014 HEDGE funds are queuing up to bet on a further fall in the share price of newly-floated companies like Saga and AO World amid renewed scepticism in the new issues market, statistics show. Short sellers, who borrow shares from other investors to make gains when the price falls, currently have close to one per cent [...]
AA races ahead with plans for £1.4bn flotation June 6, 2014 BRITAIN’S largest car insurer and roadside recovery firm, the AA, yesterday confirmed its intention to list on the London Stock Exchange in the second half of this month. The company’s current private equity owners want to sell off the stock to a buy-in team, backed by institutional investors, who will then take it public. They’ll [...]
AA confirms plans to float at £1.4bn valuation June 6, 2014 Britain's largest car insurer and roadside recovery firm, the AA, has confirmed its intention to list on the London Stock Exchange in the second half of June. The company's current private equity owners want to sell off the stock to a buy-in team, backed by institutional investors, who will then take it public. They'll be [...]
AA speeds up plans for a £4bn London float despite Saga flop June 5, 2014 BRITAIN’S biggest car insurer and roadside recovery firm, the AA, is reportedly set to push on with plans for float that will value the company at around £4bn. The listing will be part of a process known as an accelerated initial public offering by parent company Acromas, which could be announced today according to Sky [...]
Blame game begins over Saga’s faltering share price June 5, 2014 THE independent financial adviser and capital markets specialist STJ Advisors has a rather compelling sales pitch for companies, such as Saga or Card Factory, wishing to list on the stock market. STJ pitches itself as the company’s true friend in a world of complexity where the bulge bracket banks, the only ones capable of distributing [...]
Saga’s adviser proposed higher issue price for the group’s shares June 4, 2014 BANKERS to Saga, the insurance to travel company for the over-50s that has seen its share price fall below its issue price, were last night arguing over where the responsibility lies for what is looking like a botched flotation. As shares in the group fell a further 5.5p yesterday to 172.5p, far below the 185p [...]
Saga nudges past issue price on its first day May 29, 2014 Over-50s insurance-to-holiday provider Saga yesterday joined a small band of newly floated firms trading above their issuance stock price, as it began trading in London. The group, which was listed on the stock market at 185p, rose to 188p during the day but ended up barely above its initial price, closing at 185.25p. Saga, which [...]