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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A private selldown in over-50s travel and insurance group Saga unlocked enough dormant demand last Thursday to warrant a second transaction of the day, this time to institutional investors.
The Financial Conduct Authority will reveal in March whether new issuance of debt and equity will come under its competition review, a prospect that has set bankers’ nerves on edge.
A shift in behaviour by both issuers and investors has significantly accelerated the pace at which “overnight” trades have been executed in Europe. So far this year, 25 of 28 accelerated bookbuilds launched after the market close have wrapped up on the same evening – very different to the previous norm when deals would finish shortly ahead of the market open the next day.