February float on the cards for Redx Pharma January 11, 2015 BRITISH drug discovery and development company Redx Pharma yesterday announced it plans to float on London’s Alternative Investment Market as it looks to raise approximately £20m. Shore Capital is serving as the Liverpool-based company’s nominated adviser and broker on the listing, which is expected to start in February. Redx Pharma is forecast to have market [...]
FTSE 100 closes 0.3 per cent up (but fell 2.7 per cent in 2014) December 31, 2014 The FTSE 100 ended the year at 6,566.09 points, 0.3 per cent higher than yesterday's close, as trading ended early on New Year's Eve. However, the index was 2.7 per cent down on the beginning of the year, as equities were rocked by headwinds from global markets. Alastair McCraig, a market analyst at IG, pointed [...]
Poundland and Pets start trading March 17, 2014 MILLIONS of shares in Pets at Home and Poundland changed hands yesterday after the two retailers officially started trading on the London Stock Exchange. Poundland boss Jim McCarthy opened trading in a ceremony at the exchange but shares in the company closed 2.6 per cent lower at 375p a share. About 2m Poundland shares changed [...]
Retail reunion at Shore Cap’s Christmas lunch December 11, 2014 The who's who of the retail world trotted over to the Montague on the Gardens Hotel yesterday to share a Christmas toast (and another, and another) with Shore Capital’s retail guru Clive Black. Any airs and graces were brushed aside as each guest arrived at their table to find some sort of festive [...]
Investors rush to grab a piece of Poundland March 11, 2014 POUNDLAND is expected to sell shares in its stock market float at the peak price of £3 each today after a hotly contested battle to own a piece of the discount retailer. The high street store, which sells all its items for £1, announced plans last month to float in a deal which values the [...]
Poundland confirms IPO February 18, 2014 High street discounter Poundland has finally confirmed this morning that it intends to float on the London Stock Exchange. The offer will comprise a partial sale of funds by Warburg Pincus, Poundland’s private equity owner, and a free float of at least 25 per cent of the issued share capital. Poundland said admission is expected [...]
Poundland shares pop on first day of trading March 12, 2014 On its first of trading, Poundland has seen its shares jumped by 17 per cent. The company's initial public offering was priced significantly above its retail items of one pound, at 300p per share, toward the higher end of the range. The price gave Europe's biggest single-price retailer a market capitalisation of £750m. There has [...]
Investors in last minute dash to grab Poundland March 10, 2014 BUDGET chain Poundland will close the books on its forthcoming London float tomorrow night, with a late surge in demand meaning the offer could end up 10 times oversubscribed. The high street store has so far seen solid demand from institutional investors keen to buy shares, helping back an early decision by the firm not [...]
Frustrated investors miss out in stampede for Poundland shares March 12, 2014 THE immense popularity of the share listing for the discount retailer Poundland meant that, as with AO World last week, many funds received nothing from the allocation process. Demand for the shares, which traded at a 22 per cent premium to their issue price yesterday, exceeded expectations and orders came in around 15 times oversubscribed. [...]
Wonga and Poundworld scolded by ASA for misleading ads October 8, 2014 Troubled payday lender Wonga and value retailer Poundworld were rapped over the knuckles yesterday by the Advertising Standards Agency (ASA) for failing to include crucial price information in adverts. A Wonga advert failed to disclose the annual percentage rate on its loans, while Poundworld sells some items which cost more than a pound. Wonga has not advertised [...]