Imagine you are bidding for an item on eBay, and the lowest bid wins while the highest bid loses. Impossible? That is what is happening in the world of Chinese initial public offerings. Continue reading »
China’s IPO season has officially reopened. Five companies said on Tuesday they had received approval from the China Securities Regulatory Commission to issue new shares, bringing China’s longest ever IPO drought to an end. Continue reading »
The end of a year-long freeze on stock market listings in China might sound look good news for investors but for several reasons Chinese stocks fell on Monday, the first day of trading since the weekend announcement, with the ChiNext Composite index – representing China’s answer to the Nasdaq exchange – plunging 8.26 per cent, its biggest single day decline in its four-year history. Continue reading »
It was the biggest initial public offering in Romania’s history, and the latest of several big IPOs in eastern Europe. But will Friday’s part-privatisation of natural-gas utility Romgaz reinvigorate Romania’s stalled liberalisation programme? Continue reading »
Carrying cargo may appear to be dull but worthy work, but there is also a lot of money in it, as investors in PKP Cargo, the Polish rail cargo carrier, found out during the company’s Tuesday IPO.
The share price closed up 19.4 per cent at 81.16 zlotys ($26.70), up from its initial offering price of 68 zlotys. Continue reading »
Russia: good footwear required
A Siberian retailer that began selling mid-priced shoes in Russian regions a decade ago is growing so fast that there is local talk of the company becoming “the Magnit of footwear”. Obuv Rossii now plans to go public offering investors a foot in the door to one of Russia’s most buoyant consumer sectors. Continue reading »
Riiight. As if Beijing was ever really going to let Alibaba – its homegrown answer to Amazon and eBay and a major source of national pride – list anywhere but Hong Kong.
Well, guess what? One month after Alibaba said it had abandoned plans for a $60bn-plus initial public offering in Hong Kong to pursue a US listing, the ecommerce giant appears to be having second thoughts. Continue reading »
Laying the groundwork for the largest initial public offering this year on the Warsaw Stock Exchange, PKP, the Polish state railways announced on Wednesday that it was setting a 68 zlotys ($22.30) share price for PKP Cargo, its freight subsidiary.
PKP is selling just under half of the shares in PKP Cargo in a transaction valued at 1.4bn zlotys. The money will go towards reducing PKP’s 4bn zlotys in debt, of which 1bn zlotys is coming due.
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Russian IPOs have slowed of late. In contrast to 2007, when 32 Russian businesses listed on stock exchanges around the world, just five companies have floated in 2013.
Tinkoff Credit Systems, a credit card company, is the latest. It is the first to choose the London Stock Exchange this year as its place of trading. (Alrosa, the state diamond miner, intends to float but on the Moscow Exchange.) Continue reading »
The great expectations that Mexico’s largest dairy company, Grupo Lala, generated when it said it would go public three weeks ago, were not exaggerated.
On its debut on the Mexican stock exchange on Wednesday, the company’s shares rose 7.6 per cent to close at 29.59 pesos, reflecting the great appetite the company had generated among investors because of its track record and growth prospects. Continue reading »
The Russians are coming: Alrosa, the state diamond miner, and Tinkoff Credit Systems both announced plans to go public this week and there is a long line of other Russian companies waiting to list. So as investors weigh up the all too familiar Russian risks, it’s worth tallying up how recent Russian IPOs have panned out.
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The door is not exactly being kicked wide open. But after two years of accounting scandals and critical reports from short-sellers, Chinese companies are slowly making their way back to Wall Street again – and it’s not just Alibaba eyeing up New York.
On Monday, Qunar, a popular travel website in China, filed paperwork with the US Securities and Exchange Commission to raise $125m in an initial public offering.
The move comes just three days after 58.com, China’s answer to Craigslist, filed to list on the New York Stock Exchange with an offer to sell $150m of ordinary shares in the form of American Depository Shares (ADSs). A day earlier, Montage Technology Group, a Shanghai-based computer chip maker, raised $71m in its public debut. Continue reading »
By Nicholas Watson of bne
Stock Spirits Group is preparing an IPO on the London Stock Exchange which it hopes will raise about £50m to help finance its goal of becoming central and eastern Europe’s leading spirits producer. Continue reading »
The Warsaw Stock Exchange has had a lacklustre year in terms of new issues. But it could end 2013 with a bang with the planned IPO of PKP Cargo SA, the country’s largest rail cargo operator and the second largest rail freight carrier in the EU. Continue reading »
Grupo Lala, Mexico largest milk producer, plans to sell shares in Mexico and abroad in the first initial public offering of a dairy company in the country.
The company didn’t disclose the size of its offering, but Bloomberg, citing two unnamed sources with direct knowledge of the transaction, said Grupo Lala would seek to raise at least US$700m Continue reading »