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Monday, 20 November 2017

Stephen Lacey' s stories

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  • Reels of sewing thread

    Stitch Fix forced to discount wares on IPO

    Top News | 17 November 2017

    The fabric underlying the US IPO market is unravelling. Stitch Fix, a six-year-old online fashion store, became the latest victim of investor push-back, selling 8m shares at US$15 to raise US$120m, below the US$18–$20 targeted and less than the 10m shares launched.

  • Loma Negra

    Argentine's Loma Negra cements future

    Top News | 03 November 2017

    Cement production is not the sexiest business but at least it is straightforward. When tied to the budding Argentine economic recovery, the investment premise of Loma Negra is alluring and long-tailed.

  • CSL puts SPACs on watch with Sentinel Energy IPO

    Equities | 03 November 2017

    Equity funding across the oil patch has slowed to a crawl of late, though CSL-backed SPAC Sentinel Energy Services is looking to provide an alternative way for the sector to access ECM.

  • BP overcomes investor revolt with US$765m MLP IPO

    Equities | 27 October 2017

    BP got its prize on the spin-off of its US midstream assets, BP Midstream Partners, but not the price. The outcome reflected a brewing pushback from dedicated investors over structural and corporate governance on master limited partnerships.

  • BP logo

    BP uses MLP to deliver dividend

    Top News | 20 October 2017

    BP is this week wrapping up the long-awaited spin-off of its US midstream assets, BP Midstream Partners, as part of its “getting back to growth” initiative.

  • Votorantim likes sound of heavy metal

    Top News | 13 October 2017

    Brazilian conglomerate Votorantim is spinning off its zinc-mining unit, taking advantage of surging demand for the heavy metal with an up to US$650m IPO for subsidiary Nexa Resources.

  • Loma Negra cements ties to recovery

    Equities | 13 October 2017

    Planes (Azul), banks (many), and now cement - Latin American capital markets haven’t seen this type of activity in, well, ever.

  • Carlyle, CSL target energy with SPAC debuts

    Equities | 06 October 2017

    What do Carlyle Group and CSL Capital Management have in common? Both are alternative asset managers, the former with a global, broad mandate and the latter focused on energy. Another commonality is that neither firm has backed a special acquisition company.

  • Mexican national flag

    Alfa balks at investor bid for Sigma IPO

    Top News | 29 September 2017

    Mexican conglomerate Alfa pulled the plug on the up to US$1bn spin-off of its food division Sigma Alimentos on Wednesday rather than accept what it viewed as a cut-rate valuation.

  • Alfa cancels IPO of subsidiary Sigma

    Ticker | 27 September 2017

    Mexican conglomerate Alfa pulled the plug on the up to US$1bn spin-off of its food division, Sigma Alimentos, on Wednesday after the company and investors failed to see eye to eye on pricing.

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