Uralchem and Acision to IPO February 22, 2010 THE collapse of a string of high-profile flotations has not deterred two Russian-backed companies, Uralchem and Acision, from drawing up plans to list in London. Uralchem, Russia’s largest fertiliser manufacturer, has appointed three investment banks to advise on an initial public offering that will raise around $400m (£259m). UBS, Morgan Stanley and Renaissance Capital have [...]
Optimism returns as flood of firms set for London flotations February 18, 2010 GOLD mining giant Barrick Gold yesterday led a spirited charge by companies back into the London initial public offering (IPO) markets, after quavering demand from investors sank prospects for three new flotations in the space of just over a week. Barrick announced plans to spin off its African assets into a new company, African Barrick [...]
Turquoise expands bank share roster March 8, 2010 THE London Stock Exchange (LSE) yesterday sealed a deal with three leading banks to sell a nine per cent stake in Turquoise, the trading platform it bought at the end of last year. Barclays, JP Morgan Cazenove and Nomura have each snapped up three per cent of the venture, which was merged with the LSE’s [...]
CITY BOSS JOINS BEAR GRYLLS ON ARCTIC TRIP April 11, 2010 IT ISN’T every day that a financier gets to ditch his day job for a few weeks and sail off into the sunset for the adventure of a lifetime with a self-confessed adrenaline junkie. Then again, how many City financiers can count Bear Grylls – the skydiving, creepy crawly-munching, elephant piss-drinking star of Channel 4’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 19, 2010 FINANCIAL TIMES HCL FUELS DEBATE The head of one of India’s biggest IT outsourcing companies has waded into the debate on UK public sector efficiency savings, complaining of an “old boys’ network” in government procurement. Vineet Nayar, chief executive of HCL Technologies, hit out at the “stranglehold of a few companies” in Britain’s £17bn market [...]
Cost of listing on Aim soars February 24, 2010 LISTING costs on the Alternative Investment Market (Aim) continued to climb last year despite a slump in the number of initial public offerings (IPOs) on the market, pushed up by concerns over a tightening in the regulatory environment. The cost of listing on Aim reached an average of 7.24 per cent of funds raised in [...]
Ailing share price could cost Lloyds’ Eric Daniels millions February 15, 2010 LLOYDS chief executive Eric Daniels is line to forego a long-term incentive bonus worth millions of pounds as the bank’s share price continues to linger in the doldrums, City A.M. can reveal. Daniels, whose pay is under scrutiny this week ahead of Lloyds’ annual results on 26 February, is now likely to see his combined [...]
William Hill names new chair July 28, 2010 WILLIAM Hill has appointed Gareth Davis as its new chairman. Davis, who recently retired as chief executive of Imperial Tobacco Group after 14 years in the role, will take up his new job from 1 September. He joined Imperial Tobacco in 1972 as a management trainee and undertook various roles in the business, including managing [...]
William Hill names new chair July 28, 2010 WILLIAM Hill has appointed Gareth Davis as its new chairman. Davis, who recently retired as chief executive of Imperial Tobacco Group after 14 years in the role, will take up his new job from 1 September. He joined Imperial Tobacco in 1972 as a management trainee and undertook various roles in the business, including managing [...]
Giving investment clubs the personal touch March 18, 2010 IN these difficult economic times wealthy individuals have become intensely focused on wealth preservation, circling the wagons to protect what they have while continuing to look for opportunities to create new riches through canny investments. It was somewhat surprising then to find David Giampaolo in ebullient form this week as he prepares for the latest [...]