Tuesday, 20 March 2018

Graham Fahy' s stories

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  • BNPP

    Investors confused by BNPP sale

    Top News | 05 May 2017

    The Belgian government sold 2.5% of BNP Paribas on Wednesday evening though a somewhat convoluted structure that perhaps explains why lead banks were left with some of the shares.

  • AIB sale haunted by Royal Mail ghost

    Equities | 28 April 2017

    At the time of its IPO, Allied Irish Banks will issue warrants to the Irish government that provide political cover should the share price surge once the state has sold its stake.

  • Lone Star shuns bulge-brackets for Forterra clean-up

    Equities | 21 April 2017

    Bulge-bracket banks might not have much appetite for pesky mid-cap sell-downs, but even so, it must sting a bit when the little guys steal your lunch.

  • Popular to make bankers very unpopular

    Equities | 13 April 2017

    ECM bankers face the daunting prospect of having to call investors for yet another capital increase in Banco Popular, less than 10 months after the bank tapped shareholders for €2.5bn.

  • Spain

    Sun shines on Spanish ECM (again)

    Top News | 31 March 2017

    Spanish corporates have been quick to capitalise on tentative signs of an economic recovery by bringing IPOs, encouraging investors with bargain valuations.

  • Medica pops 38% on debut

    Equities | 24 March 2017

    Medica Group has made the kind of spectacular trading debut on the London Stock Exchange that is usually reserved for New York listings. Shares in the x-ray and medical scanning specialist closed at 186p last Tuesday for a first-day pop of almost 38% on an IPO pricing of 135p per share.

  • Poland

    Dino's off and running

    Top News | 24 March 2017

    A brace of IPOs means Poland is back on equity investors’ radars for the first time in years, and the quick coverage for supermarket group Dino Polska’s float shows institutions are keen to buy.

  • Ardagh's small package

    Equities | 17 March 2017

    In among the hot IPOs for a maker of premium-priced parkas and a software company - Canada Goose and MuleSoft, respectively - Irish packaging company Ardagh more than held its own. Years after first telling bond investors it was planning an IPO, the deal finally came and found broad demand despite high leverage.

  • Ardagh

    Ardagh up 18% on small float

    Ticker | 15 March 2017

    Shares in Irish packaging company Ardagh were up by more than 18% in early New York trading after the company priced its IPO in the upper end of its pricing range.

  • Spanish construction

    Neinor to test appetite for new homes

    Top News | 10 March 2017

    The listing of a Spanish homebuilder would be a remarkable achievement in a country where there are still over half a million unsold houses. Yet extensive marketing to investors in advance of launch means bankers are confident that the IPO of Neinor Homes will be successful.