Sunday, 18 March 2018

Stephen Lacey' s stories

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  • Canada Goose two-for-one stock sale not cheap

    Equities | 30 June 2017

    Canada Goose touted its continued expansion with the opening of a new production centre, its fifth, and a distribution centre, noting that it has increased the number of Canadian workers employed by 200% and that it now employs 10% of the country’s cut-and-sew labour force.

  • Canada Goose set loose for first follow-on

    Equities | 16 June 2017

    Canada Goose, the premium parka maker, filed documents on Wednesday to facilitate a secondary sell-down by private equity firm Bain Capital, senior management and other insiders. The proposed stock sale comes just three months after the IPO, well within the 180-day lock-up agreed with the underwriters.

  • Banco Macro seeks to capitalise on consolidation

    Equities | 16 June 2017

    Argentine commercial banks are rushing to the equity markets to secure the firepower needed to participate in ongoing consolidation.

  • BanBajio takes international deposits on US$420m IPO

    Equities | 09 June 2017

    Mexican commercial bank Banco del Bajio saw surprisingly strong support for its IPO. At four times oversubscription, the offering was not a blowout, but getting it done at all was notable in the light of renewed global banking turmoil.

  • Carlyle Group seeks premium valuation on TCG BDC IPO

    Equities | 09 June 2017

    Carlyle Group is seeking the permanency of a public vehicle with the forthcoming IPO of TCG BDC. With myriad similar vehicles – business development companies (BDCs) backed by Ares, Apollo, TPG and Goldman Sachs – the question for investors will be to discern between subtle differences in the businesses.

  • Kinder Morgan sign

    Politics drives Kinder Morgan down

    Top News | 02 June 2017

    Concerns that Kinder Morgan Canada might struggle to deliver its C$7.4bn (US$5bn) Trans Mountain pipeline - which led to a large cut in valuation on its C$1.75bn IPO - look to have been well-judged, with the project imperilled before trading even began.

  • Banco Macro fuels M&A speculation with follow-on

    Equities | 02 June 2017

    Banco Macro’s all-primary stock sale, raising around US$650m, could herald consolidation moves among Argentine banks.

  • Canadian cobalt player gets physical on IPO

    Equities | 02 June 2017

    Tesla is the obvious investment choice for those looking at electric vehicles with few alternatives. Cobalt, used in rechargeable batteries for autos, computers and cell phones, is another possibility.

  • Kinder Morgan sign

    Kinder Morgan lowers sights on Canadian pipeline IPO

    Top News | 26 May 2017

    Controversy surrounding the Trans Mountain oil pipeline expansion - and the potential impact on delivering the C$7.4bn (US$5.5bn) project - meant Kinder Morgan had to acquiesce to a deeply discounted valuation in order for the C$1.75bn (US$1.3bn) spin-off IPO of Kinder Morgan Canada to go ahead.

  • Turkish F1 Grand Prix at the Istanbul Park circuit in Istanbul

    Formula One accelerates under new owners

    Top News | 19 May 2017

    CVC has led a group of shareholders selling down their exposure to Formula One, just as new owner Liberty Media overhauls the business of the race series to maximise returns. The US$1.24bn follow-on of Liberty Media shares also included a primary portion that will repay some of the debt incurred in the US$4.4bn acquisition completed in January.