dreamcatcher
- 18 Aug 2014 20:42
- 396 of 440
Challenger bank Aldermore gearing up for float
Telegraph
By Ashley Armstrong | Telegraph – 1 hour 37 minutes ag
Fast-growing retail lender set to break the summertime lull for listings with stock market flotation in coming weeks
Challenger (SES: E1:573.SI - news) bank Aldermore is gearing up for a stock exchange listing which is likely to make it one of the first major companies to debut on London’s markets after a summertime lull.
A stock market listing is expected within weeks, valuing the retail bank at between £800m and £900m. Aldermore, which focuses on “straightforward banking” to individuals and small businesses, is expected to raise between £400m and £500m.
The mortgage lender stunned industry experts in April when it reported an almost 15-fold increase in its pre-tax profits for 2013 while its lending and deposits business jumped by almost two-thirds. The company, which is only five-years-old, made pre-tax profits of £22.4m last year, compared to just £1.5m in 2012. The double digit growth in Aldermore’s return on equity was higher than every other listed UK bank.
Aldermore, which is owned by private equity group AnaCap and backed by Honeywell Capital Management and Ohio Public Employees Retirement System, raised a further £40m from hedge funds Toscafund and Lansdowne Partners at the start of the year. At the time, the hedge fund injection valued the business at more than £450m.
Sources said that work on an imminent stock market listing was nearing completion although a definite launch time had not been confirmed with the company’s management yet.
A main market listing typically takes four weeks from its formal announcement to the actual start of trading on London’s stock exchange.
AnaCap remains the majority shareholder and has already brought in Credit Suisse and Deutsche Bank (Xetra: 514000 - news) to advise on a potential flotation. It is expected that other banks will be added to the roster to manage the listing.
Aldermore will follow the London float of JC Flower’s One Savings Bank, which was valued at £413m in a June, the first UK bank to list for more than a decade after the now defunct lender Bradford & Bingley’s IPO in 2000. Lloyds Banking Group’s spin-off of TSB followed a month later in a carefully managed £1.4bn stock exchange float.
London’s listing market is expected to revive next month but investors have already fired warnings that they will not be prepared to support the same lofty valuations that were achieved at the start of the year.
HARRYCAT
- 03 Oct 2014 11:58
- 397 of 440
Miller Homes IPO:
"In light of the recent financial markets volatility, the Shareholders of Miller Group have elected not to proceed at this time with a public offering of Miller Homes. The Shareholders are excited to support Miller Homes in its next phase of growth as the Company builds upon the momentum evidenced in its recent operational and financial results."
Dil
- 16 Oct 2014 18:54
- 401 of 440
That one looks interesting skinny.
Cheers
HARRYCAT
- 17 Nov 2014 08:25
- 406 of 440
Camden Market may be set to float, according to The Sunday Times.
The British hotspot was bought up by Israeli billionaire Teddy Sagi, who has spent more than £500m to become the market’s first single owner.
Sagi last month acquired Camden lock from investment company Brockton Capital and spent £400m to purchase Camden Stables earlier in the year.
The Israeli businessman is also thought to have appointed former gaming chief executive Charles Butler to lead his Camden property operation.
skinny
- 17 Nov 2014 08:39
- 407 of 440
My son will be interested if it does - he loves the place.
HARRYCAT
- 17 Nov 2014 08:54
- 408 of 440
I think it's a terrific place to visit. I think there are quite a few ways to get ripped off, but that always adds to the buzz!
Martini
- 09 Jan 2015 07:04
- 410 of 440
More on Trainline. I am interested in this one.
More information
HARRYCAT
- 09 Jan 2015 10:09
- 412 of 440
It is often cheaper than going direct to the operator's website. Regardless of who gets what in the way of profit / commission, as long as we (the public) get a cheaper price, seems like a no brainer to me.
dreamcatcher
- 12 Jan 2015 15:12
- 413 of 440
Biotech business and tool hire firm join Trainline on the IPO track
By Andrew Neil
January 12 2015, 11:33am
Trainline, which sells tickets online and over the phone for the main train operating companies, has announced it is planning a £500mln float on the London Stock Exchange.
Trainline, which sells tickets online and over the phone for the main train operating companies, has announced it is planning a £500mln float on the London Stock Exchange.
Tool hirer HSS Hire Group and biotech business Redx Pharma are the latest firms to roll out their IPO plans.
Last week Trainline.com, the online train ticket retailer, started the 2015 IPO ball rolling when it unveiled its London flotation.
In a statement today, Liverpool-based drug developer Redx Pharma said it plans to raise £20mln when it floats on AIM in February.
Set up in 2010, the firm focuses on developing new treatments for cancer and infectious diseases by improving existing drugs to create best-in-class treatments.
Based at the former AstraZeneca site at Alderley Park, Cheshire, it already has a portfolio of 13 patent-protected drug programmes.
Already at the pre-clinical proof of concept stage are treatments for MRSA, bone tumours, skin, brain and blood cancers.
The biotech business has secured partnerships with AstraZeneca, the NHS and French laboratory Pierre Fabre in the past 18 months.
The money raised will help develop the pipeline of oncology and infectious disease assets and launch a third therapeutic subsidiary focused on immunology.
“We believe that Redx is now at the forefront of research into small molecule tumour immunology and cancer stem cells, as well as the critical threat of antimicrobial resistant infection,” said Neil Murray, chief executive.
The listing would value the firm in the region of £60-£80mln, reports today suggested. Dealing in the shares on the junior market is expected to start next month.
Meanwhile, UK tool and equipment renter HSS Hire hopes to raise more than £100mln through floating a quarter of its shares. In a statement today, the firm said it will use the proceeds to reduce its £200mln debt.
HSS, which claims to be the second-biggest supplier of hired tool and equipment in Britain, operates from 265 locations and has about 2,900 staff. The listing could give the firm a value close to £600mln.