Foreign buyers push up price of TSB shares June 17, 2014 ENTHUSIASTIC American investors are helping to push TSB’s shares towards the top end of the price range, City A.M. understands. Such a strong result for the bank would represent a surprise success, as markets have suddenly turned cautious on initial public offerings in recent weeks. Lloyds is selling a 25 per cent stake in the [...]
Irish government takes first step towards re-listing Allied Irish Banks January 12, 2015 Ireland's government has taken its first step towards re-listing Allied Irish Bank with a little help from banking titan Goldman Sachs. The Irish government announced it had appointed Goldman Sachs to advise on the bank's relisting, the completion of which would return some €21bn (£16.4bn) to the taxpayer following a bailout in 2010. Finance minister [...]
Apple Pay: How does it work and is it any quicker? A guide for the new contactless payment system July 15, 2015 Apple Pay has finally arrived in the UK. Well, sort of. If you have the right iPhone and the right bank and you shop in the right place and if the sun is shining at just the right angle – then you can use Apple Pay (okay, we made the bit about the sun up). [...]
George Osborne should prioritise taxpayer value over a rapid RBS privatisation June 9, 2015 Almost seven years on from the £46bn taxpayer bailout of RBS, it may seem perverse to ask “why the rush?” when it comes to selling our 79 per cent stake in the still-ailing bank. But this is precisely the question that must be posed if, as anticipated, George Osborne sets out at the Mansion House [...]
Investors flood into TSB shares after low pricing June 9, 2014 Investors had placed orders for all of the TSB shares up for sale by yesterday evening, City A.M. understands. Yesterday morning the shares, amounting to 25 per cent of the new high street bank, were priced at between 220p and 290p each. The price would value the bank at between £1.1bn and £1.45bn, below the [...]
TSB flotation: Be careful picking up shares on the rebound June 9, 2014 LET’S face it – break-ups are never fair. One side always gets the best part of the deal, spiriting away the record collection while their former spouse gets lumbered with a half-broken Ikea coffee table. At first glance, TSB appears to have done rather well out of its divorce from Lloyds. For a start, it [...]
German tech firm Aixtron is Europe’s most shorted stock pre-results February 23, 2015 German tech firm Aixtron came top of the pile as Markit, the financial information firm, yesterday released its review of the most short-sold European companies due to announce results in the coming week. Aixtron, a perennial target for short sellers, saw its shares out on loan rise by 19 per cent in the last month [...]
Lloyds prices TSB IPO below book value June 9, 2014 Lloyds Banking Group has announced that it’s pricing shares for TSB at between 220p to 290p. That’ll see the bank valued at £1.275bn, at the mid-point, when it floats on the stock market at the end of this month. The initial public offering will see 125m ordinary shares sold – 25 per cent of TSB’s [...]
Lloyds chief Antonio Horta Osorio warns breaking up banks will hurt small businesses February 10, 2015 Splitting off new high street banks from Lloyds and RBS has not helped boost competition for small businesses, Lloyds’ chief claimed yesterday. In a carefully worded warning to Ed Miliband – who wants to break up the big banks – Antonio Horta Osorio said other solutions are needed to help SMEs shop around. “Many things [...]
TSB promises rapid growth to new investors May 27, 2014 NEW HIGH street bank TSB yesterday set out plans to grow by 50 per cent over the coming years, hoping to attract investors with an ambitious expansion plan. Lloyds is selling the 631-branch bank and published its intention to float the lender on the stock market yesterday. The sale comes at a tricky moment as [...]