This little stock seems to be one of the most unknown around however the upturn in the market will certainly benefit CFP as they assist with RTO's,placings and floatations. It used to be called Abinger and has a pretty substantial client list.

Recently it has been moving up. Looking at the TA the MACD and RSI have both turned bullish ! At less than 0.5p to buy it looks a multi bagger.

tnuc

Thanks for this, got your quote confused with the first poster, apologies, when are the results out?

Tony

Tony, I'm not sure, I think that it's early March.

Annual report should be 30 May,prelim report should be 31 May.

IPOs show some signs of revival
James Quinn surveys the health of the IPO market and asks what it can tell us for 2004, while Polly Fergusson focuses on some of the most notable floats of last year

If new issues are an integral indicator of any markets health, then the picture that emanates from 2003 can be described as being a lesser known oil on canvas at a high-class auction.

Last year slowly built a picture of little interest and few bidders. Brokers watched nervously. Company directors were even more circumspect, placing their reservations on the maiden voyage of the Queen Mary 2 on hold as uncertainty hit the IPO market. But then, the Iraq war was over almost as fast as it had begun and in the IPO auction room, sentiment began to build as more and more bidders raised their numbers to the auctioneers.

Insurance house Benfield showed interest, so did Kesa and Yell; maybe the auctioneers hammer would not need to signal an end to the 2003 IPO market as quickly as some had first expected.

Looking back on 2003, more than 3 billion was raised through IPOs in London across the main market of the London Stock Exchange and the Alternative Investment Market (AIM).

In analysing the split, it is interesting to note that in spite of the fact that the number of Official List IPOs can be counted on two hands and one foot, the money raised was almost double that raised on AIM.

Sizeable floats continue to carry large costs and are more appealing to brokers. The fact that there were around four times more floats on AIM than on the main board was perhaps a sign that investment banks were dipping their toes in the water to get a feel of investor sentiment. It is also less strenuous to convince a fund manager to invest 500,000 of his assets under management than to hand over 50 million, and brokers and corporate financiers have had to work hard to counter this.

Investment houses have also had to ensure that the quality of offerings was up to scratch, and that they carried the right sort of valuation. No one takes pleasure from a company diving post-float, particularly not the investors. Shares in media minnow Milestone (AIM:MSG) plummeted after listing in early July, while Sinclair Pharma (AIM:SPH) rose significantly on listing.

There is now a tendency to slightly undervalue companies at float to ensure that the price will rise in the days and weeks after listing. Although this discount is not always significant perhaps 2% or so it ensures that investors will feel they are getting value for money. It can, however, be slightly annoying to company directors who feel that their share of the business is worth slightly less than they thought it was.

As the market improves, it is likely that such incentives will disappear as corporate financiers begin to gain a feel again for what fair value actually is after three years of a tumultuous market.

A different technique is to place a firm ceiling on the amount of money to be raised in order to ensure that fund managers are falling over themselves for the stock. This usually leads to a sharp rise in the share price on the day of listing as those who got an allocation sell for a quick buck to those who did not.

This strategy tends to be used when the companys directors own a fair amount of the equity and are keen not to devalue their own holdings by shaving a few percentage points off the valuation.

Such techniques were regularly applied to IPOs in 2003, but there were also a significant number of companies with little substance other than well-known directors who have done it all before and want to do it again Two of the most high profile of such cases were Melrose (AIM:MRO) and Clapham House Group (AIM:CPH).

But as the sector-by-sector table shows, the bulk of the floats last year came in the mining & exploration sector which covers a number of ills as well as the financial sector, with a lot of these being self-styled investment companies.

In a year when valuation was closely under scrutiny, it almost seemed easier to raise money from a blank sheet of paper than it did for an existing business. That said, it is interesting to note that the majority of the best and worst-performing IPOs are actual businesses rather than mere cash shells with high hopes.

Overall performance for the year was strong, with AIM IPOs performing more than twice as well as their Official List brethren, and far outperforming the FTSE index over the year. That goes to show there is money in backing new winners, although the problem for private investors is often getting involved in the first place.

But what does all this mean for the year ahead? Rumours abound of some big money floats. One of the most interesting is perhaps celebrity rehabilitation clinic The Priory, owned by private equity group Doughty Hanson. Doughty became involved in the Priory in 2002 after it backed the groups 288 million management buy-out. A float was attempted and aborted last January, but now Doughty is said to be preparing to float it the spring.

One of the largest if not the largest floats of the year will come in the shape of Google, the internet search engine. Rivals Morgan Stanley and Goldman Sachs are understood to have already been appointed as joint bookrunners, and up to $4 billion of new money could be raised, with private investors to be offered a significant stake.

The healthier IPO market also brings about a return to the investment cycle for the venture capital (VC) community. What have yet to make an appearance bar the Google float are the old faithfuls of the IPO world: open offers. IPO does after all stand for initial public offer, but how public is a float if the only people who are offered it are a club of fund managers who snap all the available shares up just before the company actually lists?

Only when an increasing number of larger companies and their advisers have such firm belief in the story they are selling that they allow private investors to get in on the new issue, will confidence truly have returned. And that can only be good news.


TOP IPO SECTORS BY %
Mining & exploration 21.5
Financial 17.7
Technology 7.5
Leisure 6.3
Oil & gas 6.3
Media 6.3
BEST PERFORMING IPOS OF THE YEAR (%)
Capricorn Resources +412
African Eagle Resources +308.33
Bioprogress +306.25
African Diamonds +192.86
Tellings Golden Miller +142.86
WORST PERFORMING IPOS OF THE YEAR (%)
QuikTrak Networks -49.28
Ocean Resources Capital -43.64
Faroe Petroleum -42.03
Ocean Power Technologies -30.08
TradingSports Exchange Syst -27.39

Certainly alot of interest today, something could be happening.

I am looking at adding to my position here. Something does seem to be in the offing and the MM buy indicates that they do not have alot of stock.

Taken from ADVFN

There was a rumour that City Financial (CFP) are to announce a major IPO deal with a very interesting player very shortly. This is the reason why there has been increased activity in this stock.

The deal, if finalised, will see a sharp increase in turnover and a strong balance sheet thus eliminating any further requrement for fundraising.

Strong buying today.Looks like the 6M held us back but if this coninues it could be a nice earner.

Wonder if they are involved in any of these ?

http://www.iii.co.uk/newissues/

Looks ready to move again. Trades delayed by an hour here so watch the online buying price.So far it has crept up from .44 yesterday to .46 today.

Nice gains today.

Looks like a chart breakout;

cfp clients Quintessentially English plc to start trading 18/3/4.The first of many floats ?

There is a list of about 16 recent clients on ADVFN

IPO maket boosted by 2003 activity
By David Harding [05-01-2004]


The IPO market continued to recover in the final quarter of last year, figures from PricewaterhouseCoopers reveal.
Link: Firms predict sector revival
A high volume of activity on London's smaller companies market, AIM, fuelled the recovery.

In the final three months of the year, there were 67 IPOs - a massive increase of 103% on the previous quarter when there were only 33.

However, the total offering value was down from 1.88bn to 1.78bn. Three of the largest four IPOs were in London with two overseas companies -Vedanta Resources, an Indian mining company and Bermudan insurance firm Alea Group - coming to the main market.

At the same time, Centerparcs went to AIM.

Tom Troubridge, head of PwC's London Capital Markets Group, said the IPO market was 'open for the right kind of business' during 2004.

Moving up nicely now

Nobody interested in a chart breakout then ?

Obviously not and look what you have missed !

Happy

Decided not to buy this last Friday, and Monday.......and today!!
Not a smart move!!! Doh! Any ideas on how far this might go?

PTH

with it`s current client list and other potentials my guess is another 100% increase is not unrealistic.
bestest. snakey