Brit Insurance profits dive after IPO costs eat into earnings August 13, 2014 Brit Insurance group reported an 18 per cent slump in the first-half profits yesterday, led lower by costs related to its initial public offering (IPO) this year. The Lloyd’s of London insurer which specialises in casualty, property and energy insurance, said profits for the first half of 2014 were down to £62m, compared to £75m [...]
Dan Wagner gets his post Daffy-gate ducks in a row with ATTRAQT IPO August 13, 2014 Dan Wagner must really hate Daffy Duck. His decision to wear a waistcoat decorated with the cartoon character, to a media call before his last IPO 20 years ago, has haunted him ever since. But hopefully, when he takes tech firm ATTRAQT public on Aim on 19 August (his first IPO since Daffy-gate) he’ll be [...]
Allianz manager reveals true cost of IPO paper bulge – 37 pine trees so far this year August 11, 2014 The flurry of IPOs this year has caused many to marvel at the resurgence of the listings market, but one Allianz fund manager has been bamboozled by something more obscure – the sheer amount of paper wasted by IPO research reports. “My colleague Matt Hall has kept copies of all the IPO research reports [...]
SSP share price rises as travel giant delivers jump in sales following IPO August 8, 2014 Food concessions giant SSP posted a 3.5 per cent rise in quarterly sales yesterday in its first set of results since floating last month. The group, which owns Upper Crust and also runs travel outlets for retailers such as Marks & Spencer and Starbucks, said like-for-like sales rose by 3.3 per cent in the three [...]
Center Parcs IPO: Owner Blackstone gears up for potential float with loan plan July 31, 2014 Center Parcs has paved the way for a stock market listing after its owner moved to re-jig the firm’s debt pile. The resort’s owner, US private equity giant Blackstone, is understood to be mulling plans to refinance Center Parcs’ complex debt mountain, which includes £1bn of secured financing. The deal would allow Blackstone to take [...]
Applus share price hammered as the year of IPO upsets goes on July 29, 2014 The troubled performance of private equity-backed flotations continued yesterday after the Barcelona-based Applus saw its share price fall to its lowest level since its float only two months ago. Applus shares took a hammering, falling around 13 per cent on the day to finish on €12.20, below its Initial Public Offering (IPO) price of €14.50, [...]
Virgin America launches stock market flotation July 28, 2014 RICHARD Branson’s US airline Virgin America is going public, seven years after the tycoon and his iconic brand launched the firm. The flotation comes almost immediately after the airline made it into the black – it posted a $10.5m (£6.18m) profit for 2013, its first profitable year. The profit was made off revenues of $1.42bn. [...]
B&M Retail hails strong maiden results after IPO delivers windfall payout July 28, 2014 B&M Retail, the discount shopping chain, yesterday reported a strong start to the year in its first trading update since its stock market debut in May. The fast-growing chain, which sells everything from bedding to barbecues, said group sales jumped by 31.9 per cent to £367m in the first quarter to 28 June. UK sales [...]
Virgin America IPO takes off July 28, 2014 The US airline part-owned by Sir Richard Branson is preparing to go public after posting its first annual profit in March. Branson owns a 22 per cent stake in the airline through Virgin Group with VAI Partners, controlled by hedge fund Cyrus Capital Partners, its biggest shareholder with a 71.6 per cent stake. Barclays and [...]
Luton Airport IPO: Owner Aena Aeropuertos gears up for jumbo market debut July 27, 2014 Europe’s biggest stock market listing this year is on the cards after the huge owner of London Luton Airport appointed a host of banks to get the firm ready for a £4bn-plus issue in November. Spanish firm Aena Aeropuertos is gearing up to become a fully-listed public company after the Spanish government announced plans to [...]
