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 [...]
Rocket IPO: Shares priced at €42.50 with €1.6bn valuataion October 1, 2014 Rocket Internet has priced shares for its initial public offering at the top of its range at €42.50. The German internet firm will debut on the Frankfurt Stock Exchange on the 2 October, joining fellow German tech startup Zalando which went public a day earlier. The float of just over 20 per cent of the [...]
Saga share price edges up as finance director announces plans to step down just months after its IPO September 30, 2014 Shares in Saga opened 0.2 per cent higher this morning, after its finance director announced plans to step down. Stuart Howard said he will leave the company by next year, to be replaced by current Bovis CFO Jonathan Hill. Andrew Goodsell, the company's chairman, said after more than 14 years in the role, Howard "feels [...]
Bostock to lead Santander into UK flotation September 29, 2014 FORMER RBS finance boss Nathan Bostock will lead Santander UK into its stock market flotation after he was yesterday appointed as chief executive on a permanent basis. He took the reins earlier this month when Ana Botin moved to become executive chairman of the global Santander group, taking the role after the death of her [...]
Royal Mail share price falls below 400p for first time since IPO September 25, 2014 Shares in Royal Mail have fallen below 400p for the first time since its IPO last October. The stock has hit a low of 397.9p per share today after rival UK Mail issued a revenue warning because of a decline in parcel volumes. That's a year-low for the stock, which has attracted much [...]
Sir Mike Rake will no longer take the wheel as RAC chairman after it abandoned IPO plans September 25, 2014 There is a major turnaround at the RAC as City heavyweight and CBI president Sir Mike Rake will no longer take up his position as chairman of the roadside recovery firm, following investment in RAC today from Singapore sovereign wealth fund GIC. RAC had announced at the start of September it would appoint Rake [...]
Citizens IPO: Share price recovers after low float price September 24, 2014 Shares in RBS’ American spin-off bank Citizens jumped sharply yesterday on their first day of trading. The New York-listed retail bank disappointed on its flotation, with shares sold in the initial public offering (IPO) pricing at $21.50 – below the $23 to $25 RBS had hoped for. But the price climbed rapidly once the shares [...]
GoPro share price is up 173 per cent on IPO price September 24, 2014 Go-Pro shares are up 173 per cent on their IPO value. The huge rise began when shares launched at $28.65 on 26 September: they were priced at $78.25 at the time of writing. It hasn't all been plain sailing, stocks took a pounding after the first quarterly report came out, falling around 12 per cent, despite [...]
Miller Homes IPO: Regional builder aims to raise £140m in listing September 23, 2014 The autumn stock market listing season is building up after Miller Homes yesterday announced plans to seek entry to the London Stock Exchange in the next few months. The housebuilder is seeking to raise up to £140m from the sale of at least 40 per cent of its shares, which would value Miller Homes at [...]
Private equity leaders feast on IPOs and deals September 23, 2014 PRIVATE EQUITY MANAGER of the year Private equity groups have feasted on fresh opportunities thrown up by ongoing financial trends this year, from the rise of China’s market economy to the dissipation of traditional bank lending. This year’s nominations include some of London’s most senior dealmakers and executives and reflect the capital’s pivotal importance at [...]
