Fears for London IPO market as Misys and O2 pull 2016 float plans October 27, 2016 London’s stuttering initial public offering (IPO) market suffered more blows today as Misys pulled plans for a float and Telefonica said late on Wednesday it would not be listing O2 this year. City sources fear that, with investors spooked by Brexit uncertainty, it appears likely that other large deals will be abandoned or pushed back. Tech [...]
Bellevue Asset Management plans £200m investment trust IPO on London Stock Exchange October 27, 2016 Bellevue Asset Management has announced plans to launch a new investment trust through an initial public offering (IPO) aiming to raise £200m. The BB Healthcare Trust will be managed by Bellevue, which has around $4bn (£3.3bn) under management in the healthcare industry across numerous areas. The company is aiming to float the trust in early [...]
Henderson share price falls and blames Brexit vote for July’s retail exodus October 27, 2016 Henderson said that its retail investors scampered for covered following this summer's Brexit vote, with large numbers of withdrawals from its funds during July. Reporting on its third quarter performance, the asset manager said that retail outflows totalled £1bn, of which 70 per cent of them occurred in the immediate aftermath of the Brexit vote. Shares in [...]
IPOh dear: Another blow for London’s flotation market as Misys pulls listing plans October 27, 2016 Misys has become the latest company to abandon plans for an initial public offering (IPO), in another blow for London’s flotation market. The tech giant, which was expected to launch one of the biggest floats of the year in the coming weeks, said in a statement that it had received “encouraging institutional support”, but “decided [...]
The Big Bang 30 years on: How Canada has changed since 1986 October 26, 2016 Nothing stands still in the City. The world's financial services powerhouse has seen it all, from boom and bust to bouncebacks and Brexit. Its skyline has changed almost beyond recognition over the last three decades, as have the markets it serves. As we mark the 30th anniversary of the so-called Big Bang, we cannot help [...]
Travel money exchange disruptor WeSwap launches crowdfunding campaign October 26, 2016 P2P travel money exchange disruptor WeSwap today launched a crowdfunding campaign on Seedrs. WeSwap has reported growth of 204 per cent in the last year, welcoming more than 200,000 users. It has a fundraising target of £1m to accelerate development on the platform and expand into new markets. Read more: Who's responsible for greater transparency in equity [...]
New Aim floater Van Elle holds Elite status for London Stock Exchange Group October 26, 2016 The London Stock Exchange no doubt treasures all of its newly floating companies. But the successful listing of Van Elle on the junior market today held particular significance. The Nottingham-based geotechnical, piling and foundation company is the first UK member of the London Stock Exchange Group’s international business support programme, Elite, to have gone public. Read [...]
Convaterrifying: £4.4bn-valued medical products firm expected to float on Halloween October 26, 2016 Medical products firm Convatec has today priced its initial public offering (IPO) at 225p per share and expects to float on Halloween. The deal, which will see 33.8 per cent of the company’s shares list on the London Stock Exchange, raising £1.5bn, values the company at £4.4bn. Conditional dealings in the shares commenced today at [...]
Thirty years since Big Bang: The deregulation of the London Stock Exchange democratised investing October 26, 2016 Thirty years have passed since Canada was radically recast by a package of Thatcherite reforms, known as Big Bang. These saw the privatisation of the London Stock Exchange (LSE), allowed outside companies – not just individuals – to become members, and ushered in the automatic quotation of share prices. The product of [...]
Here we go again: Sterling falls as markets show their nerves ahead of Carney meeting October 25, 2016 It seems markets' nerves have become too much to bear ahead of an appearance by Mark Carney before a committee in the House of Lords later today – while the chancellor didn't give them much cause for confidence. The pound fell 1.1 per cent against the dollar, to $1.2009, in mid-afternoon trading – its lowest since the so-called flash crash [...]
