London bounce for new listings on stock debuts March 31, 2014 NEWLY listed shares in London outperform the wider market by 10.5 per cent in the first year according to a new study, sharpening the investment potential of the current crop of firms seeking a listing. Newly listed shares, sold through initial public offerings (IPOs), also outperform their more established rivals over the first six months [...]
Fat Face unveils London listing to pay off debt May 1, 2014 FAMILY friendly retailer Fat Face yesterday became the latest private equity-backed retailer to tee up a listing on the London stock market, after announcing plans to raise £110m to cut debt. The business, which has about 200 stores across the UK, will offer shares to City fund managers after private equity backer Bridgepoint moved to [...]
Bottom Line: Royal Mail proves markets trump politics March 31, 2014 ON ITS first day as a listed company in February, shares in AO.com rose by 33 per cent. Three weeks later, Poundland followed suit; jumping 23 per cent on its debut and making millionaires of several of its senior managers. Other players in London’s recent initial public offering (IPO) boom haven’t fared so well; Just [...]
Bottom Line: London just needs to wait a bit for lift-off February 18, 2014 ON ONE level and after a superficial look at developments, it might seem as if London is in danger of missing out on the impending flood of new issues that are about to hit the financial markets. Yesterday’s flurry of statements revealed that ISS, the giant services group, is floating in Copenhagen; King.com has chosen [...]
Inside Track: In Barclays we trust: Retail investors rely on bank for new issues March 20, 2014 @hellierd There’s a page on the Barclays website that directs customers to the joys of investing in new issues and flotations. It is headlined: “Access investments before they become available on the market.” The trouble is that unless Barclays itself is working on one of the current crop of share issues, it is highly likely [...]
Inside Track: JP Morgan is outpacing rivals in UK equity transactions March 28, 2014 WHEN the venerable David Mayhew sold 50 per cent of Cazenove to JP Morgan 10 years ago, there were many who predicted the gradual demise of the influence of that august stockbroking house. After all the City memory bank is filled deep with the names of institutions, such as Warburg, Kleinwort Benson and Smith New [...]
Any Other Business – 19/02 February 19, 2014 IT WAS flotation madness yesterday as we saw games whizz King, bargain retailer Poundland, and Danish business services firm ISS file for their IPOs. But there was a backstory to King and ISS’s flotations that raised a few smiles in the City. As we reported back in October, financial PR group Powerscourt lost its client King [...]
City & Gild: How Tesco can make us fall back in love with its brand April 17, 2014 Tesco’s current strategy worries me enormously, especially off the back of a six per cent fall in profits. Chief executive Philip Clarke has confidently explained, “Tesco will be firmly established as a middle-market retailer, which offers low prices and good quality – all under one roof”. My translation of this is essentially, “we’re going to [...]
Fat Face moves closer to stock market debut January 20, 2014 Clothes shop Fat Face is ratcheting up its plans to seek a listing on the London Stock Exchange, and has brought in a slew of bankers to advise on a possible flotation. Bridgepoint, the private equity group that owns Fat Face, hired financial advisory group Lazard in December to assess options. And after strong Christmas [...]
Financal crisis art is totally derivative January 26, 2014 HISTORICALLY, some of the world’s finest artworks have been inspired by events at the time; Picasso’s Guernica, Hogarth’s Rake’s Progress, Banksy’s Jubilee-themed sweatshop boy on the wall of Poundland. So financial crisis-inspired artist Larry McGinity is in very good company. McGinity has created 14 paintings for his exhibition: The Financial Crisis Show: Art As A [...]