Jupiter gamble paying off for now August 24, 2010 FUND management group Jupiter defied the odds earlier this year when it pressed ahead with a stock market flotation despite concerns that it was an injudicious time to do so. First there were general worries about market volatility and by June more than 30 companies had already shelved plans to float, including London Eye owner [...]
LSE’s Indian adventure gives hope for future July 28, 2010 Stock exchanges continue to be a hot topic for debate both in the City and the wider global markets. Global equity issuance may be at its lowest point since 2005, with just $309bn (£198.2bn) raised in the first half of 2010 as sovereign debt fears weighed heavy, but interest in market developments and competition remains [...]
Ocado beefs up board for IPO March 21, 2010 Online retailer Ocado will boost its plans to float today when it announces it has reinforced its board with David Grigson, former finance director of Reuters and Ruth Anderson, the former vice-chairman of KPMG UK as non-executive directors. The 10-year-old internet firm will also say gross sales grew by a quarter to £427.3m in the [...]
Ocado sales jump 25pc in IPO warm-up March 22, 2010 OCADO, the online food retailer, has started a “beauty parade” of advisers for a stockmarket flotation after releasing a strong set of results which saw sales surge 25 per cent in a year. Investment banks queuing up to help guide Ocado through a summer initial public offering (IPO) include UBS, Credit Suisse, Goldman Sachs, Nomura [...]
Tories gain more support for jobs tax pledge April 6, 2010 THE TORIES were last night claiming another victory in the battle over National Insurance, after three business leaders added their names to a letter condemning Labour plans to hike the “tax on jobs” after the election. Tory sources said that Yell chairman and ex-Merrill Lynch banker Bob Wigley had decided to support the campaign, along with [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 28, 2010 THE SUNDAYS The Sunday Telegraph OCADO TO HIT PROFIT IN TWO YEARS Ocado’s imminent plans for a £1bn stock market flotation have been given a boost after a detailed research note from an expert retail analyst firm said that the online retailer would be making pre-tax profits within “a two-year time frame”. The note said [...]
Ocado denies problem with upcoming IPO February 15, 2010 ONLINE groceries firm Ocado hit back last night at reports its £1.2bn initial public offering (IPO) was under threat. The shadow of doubt was cast after reports emerged Waitrose is planning to launch a rival delivery service in central London. But Ocado chief financial officer Andrew Bracey told City A.M. the firms are not in [...]
Ocado bullish about spring public listing February 7, 2010 ONLINE grocer Ocado will launch an audacious IPO in May which could value the company at £1.2bn. The firm, which delivers Waitrose food to doorsteps, hopes to raise an initial £160m from the flotation. This will wipe out its £55m debts and provide it with £100m to build a new distribution centre. A source close [...]
New Look postpones IPO February 12, 2010 HIGH Street fashion retailer New Look has shelved its planned initial public offering (IPO) making it the third private equity-backed firm in as many days to abandon a flotation in turbulent financial markets. The decision to pull back from £1.6bn offering will cast a shadow over other IPO hopefuls, like travel firm Amadeus and online [...]
Supergroup will go ahead with float February 28, 2010 SUPERGROUP insists its flotation later this month will go ahead despite the torrid times experienced by other firms planning IPOs this year. The owner of Superdry and Cult Clothing brands will only achieve the lower end of its initial valuation, according to analysts, however. The company hopes to raise £125m through the offering, valuing the [...]