Robert Venes is assistant editor of equities and structured equity at IFR. Robert joined IFR in late 2009 from sister title Acquisitions Monthly, where he focused on private equity transactions and fundraisings. He was previously associate editor at Private Equity International and, before that, editor of Venturedome.
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UK used car group BCA Marketplace postponed its £400m London IPO at the end of pre-marketing last Tuesday, with bankers declaring the chances of securing a satisfactory valuation far greater in the new year.
Richard Branson’s UK challenger bank Virgin Money and German triple-play operator Tele Columbus both put their IPOs on hold last week following the end of pre-marketing. Tele Columbus said on Monday that it was still considering its IPO options, while Virgin Money said completion would now not take place in October.
Europe is still getting to grips with the concept of cornerstone investors, as the up to €2.9bn IPO of Spanish airports operators Aena Aeropuertos illustrates. Corporacion Financiera Alba, Ferrovial and The Children’s Investment Fund Management are lined up to take 21% of the 49% to be offered by the Spanish go