Aldermore in US search for funds October 9, 2014 CHALLENGER bank Aldermore, which is trying to raise around £75m in a stock market flotation, is in New York making a last-ditch attempt to raise the funds. Advisers to the bank had hoped to have covered their books in London earlier this week but failed to get enough solid support. The bank has come to [...]
London Stock Exchange in China to drum up new listings interest October 9, 2014 The London Stock Exchange yesterday fronted a new issues conference in Beijing to try to encourage Chinese firms to list in London. The Lord Mayor of the City of London, Fiona Woolf, is leading a City delegation across China this weekend and spoke at the event, which was co-hosted by the China-Britain Business Council. The [...]
Martin Wheatley undermined China effort – Editor’s Letter October 8, 2014 As the advisers to the Jimmy Choo flotation announce they have enough support to proceed, there is much to be delighted with in the way the new issues market has gone this year. Up to the August break and then pausing until the uncertainty over the Scottish referendum lifted, there has been a constant stream [...]
Aldermore calls for more time October 8, 2014 ADVISERS to Aldermore, the challenger bank that is hoping to raise around £300m in a stock market flotation, yesterday extended its bookbuilding process by 48 hours in order to complete its deal successfully. The group has been hit by shifting sentiment in the new issues market in Europe. After a bumper first half of the year, [...]
When the job isn’t worth the candle – Editor’s Letter October 7, 2014 Who would want to be a bank director in London these days? Not Alan Thomson, a member of the audit and risk committee at HSBC Bank who, according to fellow columnist Mark Kleinman, has tendered his resignation. Maybe not John Trueman, who is said to be considering his position as deputy chair of the legal [...]
Business leaders want more from Ed Miliband – Editor’s Letter October 6, 2014 When I put it to one left-leaning businessman yesterday the notion that the former postman Alan Johnson might stand against Ed Miliband as Labour leader, he responded: “That would be lovely.” Some of Labour’s business supporters are running out of patience with Miliband. They feel the party’s pro-European stance is pretty popular with business, but [...]
Aldermore meets with low-key demand for its £800m flotation October 6, 2014 ADVISERS to the challenger bank Aldermore have found it tough going in the first two days of bookbuilding for its upcoming London flotation, sources said yesterday. Equity capital markets experts said the issue had not yet been covered, suggesting the group was unlikely to make the top of its price range of between 217p and [...]
Retail investors are worth courting – Editor’s Letter October 5, 2014 London’s been having a pretty good time of things as far as raising money for newly listed companies is concerned. So far this year 99 floats on the London Stock Exchange and the junior Alternative Investment Market have raised a total of £10.4bn, up from £8.7bn last year and only £2.5bn in 2012 when the [...]
Changing, growing …exciting times at City A.M. October 2, 2014 City A.M. will be 10 years old next year and until now it has had just two editors. Yesterday it got its third with my elevation to that role, with Marc Sidwell working alongside me as executive editor across all the company’s platforms. Having both worked for this group for some time, Marc and [...]
Virgin Money advisers reject retail element in £2bn IPO October 1, 2014 Virgin Money, which is planning a London float that will value the challenger bank at between £1.5-2bn, has decided against offering the shares to the public despite some institutions and advisers pushing hard for this. Retail offers have been a rarity in the London market this year, despite the massive interest generated last year by [...]
