Monday, 19 February 2018

Robert Venes' s stories

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  • A man uses a mobile phone

    IPOs remain on course despite first failure

    Top News | 16 February 2018

    It was another week of mixed results for European IPOs, with a successful completion of German homebuilder Instone Real Estate’s €437.5m IPO - though it then traded down - and cancellation of France’s Novares on its second attempt to float.

  • Creval targets €700m capital increase

    Equities | 16 February 2018

    Mid-tier Italian bank Credito Valtellinese set terms late on Wednesday night for its €700m capital increase, which is intended to shore up the balance sheet. Given the bank’s current €112.6m market cap, the terms are, as one banker involved described them, a matter of mathematics - hence the small discount to the theoretical ex-rights price.

  • Microphones remain at the ready

    Audioboom funds for Triton tie-up

    Ticker | 13 February 2018

    UK podcasting platform Audioboom is raising £155m in a placing to fund a reverse merger with Triton Digital of Canada for US$185m, or approximately £134m.

  • Taking advantage of the January reset

    Structured Equity | 09 February 2018

    The beginning of the year is an opportunity for equity-linked issuers and bankers, with investors in effect pressing the reset button on their portfolio aspirations and risk approach. That dynamic provides one of the best opportunities in the calendar to push harder on both pricing and more structured, complex trades.

  • Novares IPO returns

    Equities | 09 February 2018

    Plastics maker Novares put out guidance last Monday for its revived Paris IPO, with the deal size expected to be around €260m. Novares postponed an original attempt, scuppered on a technical issue, last November that was targeting €130m-€150m in primary proceeds plus secondary selling.

  • Logo of Spanish property company Metrovacesa

    IPO valuations shrink to fit investor demands

    Top News | 02 February 2018

    Confidence in the EMEA IPO pipeline took a knock on Friday, with two of the three floats due to complete this week in intensive care and requiring deep cuts in valuation to stay alive. One of those was Spanish homebuilder Metrovacesa, which had been talked up as a macro play on the country and yet failed as investor feedback was ignored.

  • Just Retirement logo

    Just another sponsor sale

    Top News | 26 January 2018

    Private equity house Cinven sold a 5.5% stake in Just Group last Monday night, exiting its investment in the UK annuity provider just two weeks after a 5.3% selldown by fellow private equity investor Permira at a higher price.

  • Hospitals operator leads Turkish pipeline

    Equities | 12 January 2018

    Emerging markets continue to provide a hot lunch for ECM, with Turkey in focus last week. Hospitals operator MLP Saglik Hizmetler launched an up to US$900m Istanbul listing on Monday, Enerjisa Enerji launched its float the same day and on Monday night, private equity group Turkven was selling down its stake in jeans brand Mavi

  • A Saudi Aramco oil tank

    Saudi Aramco shortlists banks for IPO

    Ticker | 09 January 2018

    Mandates are getting closer for the potential IPO of state oil company Saudi Aramco this year, with a view to joining HSBC, JP Morgan and Morgan Stanley on the top-line global coordinator level.

  • Reverse enquiry drives Bankia sell-down

    Equities | 15 December 2017

    Getting a block away successfully at this time of year requires the deal to be well flagged, sizeable and preferably in a name that’s in demand. Bankia met at least two of those criteria.

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