Securities

UPDATE 1-Scottish Resources Delays IPO

Fri, 30 Jul 2010 14:00:04 EDT

Britain's largest surface coal mining company Scottish Resources has delayed its plan to float, joining other potential IPOs that have been postponed or foundered in a market that remains challenging...

M&A Terms: Reverse Takeovers Drive Forward

Fri, 30 Jul 2010 02:00:00 EDT

Reverse takeovers are on the uptick, as is the legal complexity that rides alongside them, sometimes stopping them in their tracks. Fueling this is an increase in UK cash shells, and both LSE and AIM companies benefit…

IPO Watch: Surf’s Up at Lisboa Leisure

Fri, 30 Jul 2010 02:00:00 EDT

In a too-good-not-to-be-true story, Lisboa Leisure, Inc. will conduct an initial public offering in hopes of realizing $32,000 in proceeds…

Executive Compensation Watch: Neiman Marcus’s Luxury Pay Packages

Fri, 30 Jul 2010 01:30:00 EDT

As luxury retail sputters, high end retailer Neiman Marcus seems to be attempting to inject new life into its existing employees by way of new compensation incentives…

Corporate Finance Watch: Compton Petroleum Nears the Medal Podium

Fri, 30 Jul 2010 00:15:00 EDT

For Calgary-based Compton Petroleum, the climb back to stability following the global economic crunch of the past few years has been...

Russia to Open $29 Billion Asset Sales to Foreigners

Thu, 29 Jul 2010 07:45:00 EDT

Russia will open its most ambitious privatization programme since the 1990s to foreign investors, its economy minister said, while the government gave its initial approval to the...

Hot Topic: SEC Thaws Market Frozen by Dodd-Frank

Thu, 29 Jul 2010 03:00:00 EDT

The legal side effects of financial reform legislation are already creeping into the market. While many of the changes envisioned under Dodd-Frank will take place years into the future, one of its immediate effects is…

Food Price Speculators Feasting on Financial Innovation

Thu, 29 Jul 2010 02:00:00 EDT

The controversial practice of food price speculation is hotting up in the UK, undeterred by allegations of distorting markets and unscrupulous speculation. With a public campaign against Goldman Sachs for “gambling on hunger”…

Malaysian Billionaire to Privatise Tanjong

Wed, 28 Jul 2010 22:20:28 EDT

Malaysian billionaire Ananda Krishnan is set to buyout utilities and gaming company Tanjong Plc, the second of his listed firms in three days in a deal worth 4.4 billion ringgit ($1.38 billion)...

HealthGrades to Go Private in $294 Million Deal

Wed, 28 Jul 2010 12:30:00 EDT

HealthGrades Inc, which provides ratings and profiles on hospitals, nursing homes and physicians, agreed to be acquired by Vestar Capital Partners, a private equity firm...

BP Tees Up Asset Sales to Pay for Spill

Wed, 28 Jul 2010 10:59:38 EDT

A day after BP said it would sell $30 billion in assets to pay for its Gulf of Mexico oil spill, the focus shifted to what is for sale, while lawyers prepared to tackle a mountain of claims for damages...

ArcelorMittal Plans Stainless Spin-off, Eyes Ties

Wed, 28 Jul 2010 10:56:19 EDT

After years of seeking a cost-cutting merger in stainless steel, ArcelorMittal is giving up the fight and says it wants to spin off its activities instead...

ICBC to Raise Up to $6.6 Billion in Rights Issue

Wed, 28 Jul 2010 10:40:00 EDT

Industrial & Commercial Bank of China, the world's most valuable bank, plans to raise up to 45 billion yuan ($6.64 billion) through a rights offer, the latest in a...

Telefonica in Revived Deal to Buy Vivo

Wed, 28 Jul 2010 10:00:00 EDT

Spain's Telefonica has won its battle for a bigger share of the burgeoning Brazilian market, raising its offer for Portugal Telecom's stake in mobile operator Vivo to...

Portugal Telecom to Pay $4.8 Billion for Oi Stake

Wed, 28 Jul 2010 09:53:38 EDT

Brazilian phone giant Oi said that Portugal Telecom would pay 8.44 billion reais ($4.77 billion) for stakes in the company and two operating units, as part of a broader plan to expand in Latin America and Africa...

Virgin Media Launches Buyback as Beats Forecast

Wed, 28 Jul 2010 06:49:55 EDT

Cable operator Virgin Media has launched a share buyback to reflect its growing confidence, after adding a better-than-expected 9,100 new customers in its traditionally tough second quarter...

RealPage Files for $189 Million IPO

Wed, 28 Jul 2010 06:45:00 EDT

RealPage Inc filed with U.S. regulators to raise up to $189 million in an initial public offering of its shares...

Ghosts of CDOs Past: Subprime Litigation Spooking Hedge Funds

Wed, 28 Jul 2010 03:00:00 EDT

Subprime chickens are still coming home to roost for hedge funds like Highland Capital Management and one-time fund operator Carlyle Group, which have been the targets of recent lawsuits…

Offering Watch: For Israel’s Radvision, Cash is King

Wed, 28 Jul 2010 01:00:00 EDT

Contrary to other industries’ credit woes, Israel’s cash-laden Radvision has announced an offer to repurchase nearly a million of its shares representing 5% of the company’s voting power…

Some Lenders Question Dubai's Shortfall Guarantees

Wed, 28 Jul 2010 00:31:23 EDT

Dubai's pledge to cover gaps in Dubai World's debt repayment plan has become a sticking point for lenders, some of whom want state guarantees to fall under British -- not local -- law...

Substantial Issuer Bids: The Boom in Canadian Buybacks

Wed, 28 Jul 2010 00:15:00 EDT

Canadian issuers, including MDS, Genworth MI and ACE Canadian Holdings, are together spending billions buying back their own shares, a sign some view as evidence that…

NYSE Busts Trades After Botched Bancorp Share Swap

Tue, 27 Jul 2010 22:00:00 EDT

A botched share swap last month in which 10 times more US Bancorp shares were issued than planned, angering and confusing investors, led the NYSE to cancel three days of trades in the stock...

MGM Resorts to Sell Atlantic City Land for $73 Million

Tue, 27 Jul 2010 19:00:00 EDT

Casino operator MGM Resorts International plans to sell the land under its joint-venture Borgata resort in Atlantic City, New Jersey, for about $73 million...

Brasoil Exploration Eyes C$150 Million IPO

Tue, 27 Jul 2010 18:30:00 EDT

Brasoil Exploration, which is exploring for oil and gas resources in Brazil, aims to raise about C$150 million ($144 million) in an initial public offering to...

UCI International Files for $200 Million IPO

Tue, 27 Jul 2010 17:30:00 EDT

UCI International Inc filed with U.S. regulators to raise up to $200 million in an initial public offering of common stock...

Forward Calendar - U.S. Corporate Bond New Issues

Tue, 27 Jul 2010 17:10:00 EDT

The following are lists of upcoming high-grade and high-yield corporate bond offerings in the United States...

BP Says DOJ, SEC Probe Trading Around Oil Spill

Tue, 27 Jul 2010 12:58:45 EDT

BP Plc said the U.S. markets regulator Securities and Exchange Commission and the Justice Department had launched a probe into market trading connected to the oil giant's Gulf of Mexico oil spill...

Goldman Offers Service to Aid Derivatives Clearing

Tue, 27 Jul 2010 12:16:10 EDT

Goldman Sachs said it is launching a service to facilitate central clearing for clients in all listed and privately traded derivatives asset classes...

Goldman Sachs, CS Buy Stakes in Bank of Moscow

Tue, 27 Jul 2010 12:00:00 EDT

Major international banks Goldman Sachs and Credit Suisse have bought small stakes in state-run Bank of Moscow, an encouraging sign for Russia as it...

Barclay Brothers Sell InterContinental Stake

Tue, 27 Jul 2010 10:00:00 EDT

The billionaire Barclay brothers sold their 10.4 percent stake in InterContinental Hotel Group Plc for 335 million pounds ($520 million), sending shares in the...

JFE Invests $1 Billion for India's JSW Steel Stake

Tue, 27 Jul 2010 09:30:00 EDT

JFE Holdings Inc, the world's No.5 steelmaker, will spend about $1 billion for a 14.9 percent stake in India's JSW Steel Ltd, in an attempt to...

Tomkins Agrees to 2.9 Billion Pound Bid

Tue, 27 Jul 2010 09:00:00 EDT

Tomkins Plc, the British maker of car parts, industrial hoses and bath tubs, backed a 2.9 billion pounds ($4.50 billion) takeover offer from Canadian investors that...

Europe Banks Say Stress Tests Positive

Tue, 27 Jul 2010 07:00:00 EDT

Over one-third of investors expect Europe's banks to raise significant capital in the next six months following a health check that forced little fundraising but...

Angel in Talks for $64 Million PE Investment

Tue, 27 Jul 2010 05:44:07 EDT

Angel Broking, a stock broking and wealth management firm, is in talks with private equity firms to raise as much as 3 billion rupees ($64 million), said three sources with direct knowledge of the matter...

PRC Regulatory Watch: Spills in the East Draw Scrutiny

Tue, 27 Jul 2010 02:00:00 EDT

In a strange wave of oil and smoke déjà vu to the Gulf of Mexico, China grapples with two man-made environmental disasters in less than two weeks: an oil spill in Dalian and a chemical leak near Zijinshan…

After the Canadian IPO: Share Sale Restrictions

Tue, 27 Jul 2010 00:30:00 EDT

After a sluggish 2009, the forecast for Canadian IPOs was supposed to have improved. Indeed, 2010 started out well. But when…

Shimao Property Says Plans to Sell Dollar Bonds

Mon, 26 Jul 2010 23:15:00 EDT

Chinese developer Shimao Property Holdings said it hired banks to help arrange a series of meetings with investors ahead of a planned dollar bond issue…

JGBs Little Changed, Data Eyed Afer Stress Tests

Mon, 26 Jul 2010 22:15:00 EDT

Japanese government bonds were little changed in a market struggling to find short-term cues after the results of European bank stress tests and ahead of economic data at...

MakeMyTrip Files for $100 Million IPO

Mon, 26 Jul 2010 17:27:26 EDT

Online travel company MakeMyTrip Ltd filed with U.S. regulators to raise up to $100 million in an initial public offering of common stock...

Dubai World Document Reveals Price of Failure

Mon, 26 Jul 2010 12:33:51 EDT

Dubai World warned that lenders, aside from the government's own support fund, would face a "significantly" worse deal if its debt plan fails and it is forced to seek liquidation...

Delta to Sell Non-Core Assets to Wapiti for $130 Million

Mon, 26 Jul 2010 10:45:00 EDT

Shares of the company rose 25 percent to 99 cents before paring gains to trade 14 percent up at 91 cents on Nasdaq...

AbitibiBowater Repays $166 Million of DIP Loan

Mon, 26 Jul 2010 10:30:00 EDT

Bankrupt Canadian newsprint producer AbitibiBowater Inc said it repaid $166 million of its debtor-in-possession loan following an improvement in market conditions and...

Khazanah Wins Battle for Parkway; Fortis Bows Out

Mon, 26 Jul 2010 10:21:23 EDT

Malaysian state investor Khazanah trumped India's Fortis Healthcare in a takeover battle for Singapore's Parkway with an offer that values Asia's biggest listed hospital operator at $3.3 billion...

China Everbright Bank Gets Nod for Shanghai IPO

Mon, 26 Jul 2010 05:15:08 EDT

China Everbright Bank's plan to raise up to $2.9 billion in a Shanghai IPO has been approved by the securities regulator, two sources said, in what will be the latest Chinese bank to try and...

IPO Watch: Ocado's Frustrated Flotation

Mon, 26 Jul 2010 02:00:00 EDT

In one of the most controversial UK IPOs this year, Ocado has plowed ahead with its initial public offering, despite criticism over its market valuation and its last minute revisions to…

UK Stocks -- Factors to Watch on Monday July 26

Mon, 26 Jul 2010 02:00:00 EDT

Britain's FTSE 100 .FTSE index is seen opening up 30-44 points, or as much as 0.8 percent higher on Monday, according to financial bookmakers, bouncing back after a...

PRC Outbound Investment Tide in Tough Regulatory Seas

Mon, 26 Jul 2010 01:30:00 EDT

Much of the US$55 billion in outbound investment, invested in the first half of 2010 by Chinese entities, can be credited to agile corporate counsel. Navigating through the maze of China’s outbound investment laws, these lawyers…

The Crucible of Islamic Finance: Dissolving IIG’s $200 Million Sukuk

Sun, 25 Jul 2010 18:00:00 EDT

The maturity of the Islamic finance industry will soon face another critical test, as defaults on $200 million sukuk don’t escape the notice of financial markets…

Indian PM Maintains Optimistic Inflation Forecast

Sat, 24 Jul 2010 02:30:00 EDT

Indian Prime Minister Manmohan Singh reiterated his prediction headline inflation would ease to 6 percent by December, a forecast more optimistic than that...

Seven Banks Fail Europe's Stress Test

Fri, 23 Jul 2010 13:14:33 EDT

Seven European banks would not be strong enough to withstand another recession and would face a capital shortfall of 3.5 billion euros ($4.5 billion), tests run in an attempt to revive investor confidence...

Kinross Sells Interests in Diavik, Harry Winston

Fri, 23 Jul 2010 12:30:00 EDT

Gold miner Kinross is set to rake in a windfall from the sale of its stake in diamond miner and retailer Harry Winston and its interest in the Diavik diamond mine in Canada's far north...

Capitalisation Estimates for European Banks

Fri, 23 Jul 2010 04:39:20 EDT

With the results of stress tests on 91 European banks looming, financial institutions have been coming up with their own scenarios of what to expect...

Corporate Finance Watch: BP Sells Global Assets to Apache in $7 Billion Deal

Fri, 23 Jul 2010 03:00:00 EDT

BP is building up its war chest to confront the massive cash outlays it faces through a blockbuster deal to sell oil & gas properties in Egypt, Canada and the Permian Basin of Texas, to Apache Corp. for $ 7 billion...

CITIC Group Eyes $12 Billion HK IPO Next Year

Thu, 22 Jul 2010 21:30:00 EDT

CITIC Group is considering a $12 billion listing in Hong Kong, a move that can help the state-owned conglomerate raise its profile and reduce debt...

Bursa Malaysia to Enhance Transparency Through Proposed Changes to Listing Requirements

Thu, 22 Jul 2010 17:00:00 EDT

Efforts to enhance disclosure and governance have continued unabated in Malaysia as regulators aimed to promote transparency, quality and efficiency in the capital market...

State Bank of India Sells $1 Billion 5-Year Notes

Thu, 22 Jul 2010 15:39:47 EDT

The State Bank of India sold $1 billion of five-year notes, said IFR, a Thomson Reuters service...

Madoff Trustee Files Wider $3.6 Billion Fairfield Suit

Thu, 22 Jul 2010 12:24:52 EDT

The trustee overseeing liquidation of Bernard Madoff's investment firm demanded more than $3.6 billion in damages in an expanded lawsuit against a hedge fund firm and individuals whom he said...

Euramax Holdings Files for IPO

Thu, 22 Jul 2010 12:15:00 EDT

Euramax Holdings Inc filed with U.S. regulators to raise up to $175 million in an initial public offering of common stock...

Swift Holdings Files for IPO to Raise $700 Million

Thu, 22 Jul 2010 07:00:00 EDT

In a filing with the U.S. Securities and Exchange Commission, the transportation services company said that Morgan Stanley, BofA Merrill Lynch and Wells Fargo Securities are...

NXP Semiconductors Files for $663 Million IPO

Thu, 22 Jul 2010 07:00:00 EDT

Dutch company NXP Semiconductors N.V. filed with U.S. regulators for a $663 million initial public offering of its shares...

Syngenta Cuts Profit Forecast After H1 Drop

Thu, 22 Jul 2010 03:00:00 EDT

Syngenta, the world's biggest agrochemicals company, expects its net profit to be down this year as a late start to the farming season following a harsh winter and higher taxes weigh...

Minority Report: Buying Shares to Build Business

Thu, 22 Jul 2010 01:30:00 EDT

Global companies, take note of the Agricultural Bank of China’s neat ruse to improve the prospects of its recent Hong Kong IPO…

TPG Invests $300 Million in Copano Energy

Wed, 21 Jul 2010 17:15:00 EDT

Private equity firm TPG Capital is investing $300 million in natural gas company Copano Energy, which it will use to fund shale gas production developments...

Online Game Technology-Maker Amaya in C$5 Million IPO

Wed, 21 Jul 2010 11:46:26 EDT

Amaya Gaming Group, a Montreal-based developer of technologies for online gambling, said it raised C$5 million ($4.81 million) in an initial public offering it made to finance growth...

Australia a Problem Child for Investors Due to Tax

Wed, 21 Jul 2010 02:15:19 EDT

The conditions look ripe -- debt markets are up, companies' valuations soft -- but foreign private equity firms eyeing deals in Australia may now have to put their plans on...

Hong Kong to Follow International Trend on Regulation of Credit Rating Agencies

Wed, 21 Jul 2010 00:05:00 EDT

Hong Kong's Securities and Futures Commission has announced plans to regulate credit rating agencies based in the city, in an effort to keep up with...

AIA Seeks to Cut Ties With AIG in Hong Kong Listing

Tue, 20 Jul 2010 23:15:00 EDT

AIA, the Asian life insurance unit of American International Group, is seeking backing from potential investors to cut ties with its U.S. parent by listing more than half its equity in the Hong Kong market….

Ambow Education Files for $117.4 Million U.S. IPO

Tue, 20 Jul 2010 18:00:00 EDT

The educational and career enhancement services provider said it hopes to sell 10.7 million American Depositary Shares for between $10 and $12 each...

BP to Sell $7 Billion in Assets to Apache

Tue, 20 Jul 2010 16:30:00 EDT

BP Plc said it had reached a deal to sell $7 billion in assets to Apache Corp as it tries to raise money to deal with the Gulf of Mexico oil spill...

Ocado Cuts IPO Price Range to Win Over Investors

Tue, 20 Jul 2010 12:05:32 EDT

British online grocer Ocado has cut the price of its initial public offering to win over investors who balked at the company's valuation, which is still higher than where sceptics think it should be...

Carl Icahn Renews Hostile Bid for Lions Gate Studio

Tue, 20 Jul 2010 11:52:41 EDT

Billionaire investor Carl Icahn renewed a hostile takeover bid for Lions Gate Entertainment Corp but at a lower price, ending a 10-day truce in a drawn-out battle for the Hollywood studio...

Dubai Aims to Set Up AIM-Type Stock Market

Tue, 20 Jul 2010 08:30:00 EDT

Dubai aims to set up an alternative stock market for small-to-medium sized firms in a bid to create more exit options for the region's private equity sector...

Goldman Executive Denies Fraud

Tue, 20 Jul 2010 07:29:17 EDT

Goldman Sachs executive Fabrice Tourre denied fraud and other accusations by U.S. regulators for his role in marketing a subprime mortgage product and asked a court to dismiss the case...

SEC May Add 800 New Positions as Part of Reform

Mon, 19 Jul 2010 13:24:57 EDT

The top U.S. securities regulator will need to add about 800 new positions to carry out its part of the massive financial reform legislation, the head of the agency said in testimony to be delivered...

Unilever Sells Findus Italy for $1.1 Billion

Mon, 19 Jul 2010 08:15:39 EDT

Unilever has sold its slow growth Italian frozen foods unit Findus to Birds Eye Iglo for 805 million euros ($1.1 billion), reuniting it with the business it sold four years ago to private equity group Permira...

Moody's Downgrades Ireland

Mon, 19 Jul 2010 04:02:04 EDT

Moody's downgraded Ireland's sovereign bond rating by one notch to Aa2, citing weaker growth prospects and the high costs of rebuilding the country's crisis-hit banking system...

India: Western Capital Meets Eastern Promise

Mon, 19 Jul 2010 02:00:00 EDT

India is gaining new corporate renown as, via acquisitions and exchanges, its companies migrate worldwide…

WPP Digital Takes Stake in Firm in China

Mon, 19 Jul 2010 02:00:00 EDT

WPP Digital takes stake in digital advertising measurement firm in China...

CSA Disclosure Report Card: Issuers Receive Below Average Grades

Mon, 19 Jul 2010 01:00:00 EDT

The 2010 report card for Canadian public issuers is in, and while some have shown improvement, the class average is still pretty low...

Khazanah May up Parkway Offer to Stare Down Fortis

Sun, 18 Jul 2010 23:08:42 EDT

Malaysian state investor Khazanah may have to pay more than S$4.00 a share for Singapore's Parkway, or at least 3.1 percent above its share price to ward off rival bidder Fortis Healthcare...

Dubai’s Regulatory Reform: DIFC Rules Embrace Flexibility

Sun, 18 Jul 2010 00:30:00 EDT

In a move which signals Dubai’s recognition of fund management as a core business, the emirate has amended its regulatory regime to ease burdens on…

SEC Creates Units for Financial Firms, ABS

Fri, 16 Jul 2010 14:40:00 EDT

The Securities and Exchange Commission said it created three expert units to focus on big financial companies, complex securities and securities offerings...

TPG/Carlyle Lodges Final Healthscope Bid

Fri, 16 Jul 2010 06:45:00 EDT

Private equity firms TPG and Carlyle submitted a final joint bid for Australian hospital group Healthscope, a spokeswoman the consortium...

With AIA IPO Back On, Underwriter Guessing Game Begins

Fri, 16 Jul 2010 06:15:00 EDT

Even before bankers can finish celebrating the completion of Agricultural Bank of China's roughly $20 billion offer, they're preparing for an invite to another major IPO party…

AgBank Closes $19.3 Billion IPO With Tepid HK Debut

Fri, 16 Jul 2010 06:00:00 EDT

Agricultural Bank of China's $19.3 billion IPO limped across the finish line after a three-month sprint, its modest Hong Kong debut reflecting concerns over...

Inflows Lift Polar Capital Assets to $2.6 Billion

Fri, 16 Jul 2010 05:30:00 EDT

Hedge fund firm Polar Capital said client assets under management rose 2.5 percent in the three months to June, with client inflows more than offsetting fund losses from...

AgBank's Easter Surprise Showed China IPO Lure

Fri, 16 Jul 2010 04:00:00 EDT

Hong Kong investment bankers were just wrapping up work ahead of the long Easter weekend in early April when they were hit with a proposition that would upend their holiday plans...

Offering Watch: Defining “Public” in Malaysian IPOs

Fri, 16 Jul 2010 02:15:00 EDT

A newly hatched Malaysian IPO demonstrates the lure of iconic American brands, yet in a decidedly un-American style offering...

Emerging Markets: The British are Coming

Fri, 16 Jul 2010 00:15:00 EDT

Buy shares in a leading British company and you might be buying more than you bargained for, as emerging market deals come into play…

Egypt's Naguib Sawiris Eyes Poland, Serbia

Thu, 15 Jul 2010 12:48:08 EDT

Weather Investments, the holding company of Egyptian businessman Naguib Sawiris, is considering a move into Poland and Serbia after the success of its mobile operations in Italy...

KKR Makes Long-Awaited Debut on NYSE

Thu, 15 Jul 2010 10:01:07 EDT

Storied buyout firm Kohlberg Kravis Roberts & Co made its long-awaited debut on the New York Stock Exchange, and its shares moved slightly higher in the first few minutes of trading...

Glaxo Takes $2.4 Billion Charge, Avandia Mostly Settled

Thu, 15 Jul 2010 08:11:02 EDT

GlaxoSmithKline expects to record a legal charge of 1.57 billion pounds ($2.4 billion) for the second quarter after settling the "substantial majority" of claims relating to its controversial diabetes pill Avandia...

Spain Sells 2025 Bond at Top of Range, Yields Rise

Thu, 15 Jul 2010 05:19:17 EDT

Spain sold 3 billion euros ($3.8 billion) of a 15-year benchmark bond, at the top end of the Treasury's target range, following previous successful auctions in euro zone periphery countries this week...

Fairfield Postpones IPO, Cites Market Conditions

Thu, 15 Jul 2010 02:20:08 EDT

British oil and gas company Fairfield Energy shelved plans for a $500 million stock market listing, the company said, citing hostile markets...

Governance Watch: Boardroom Dogfight at Israel’s Magal

Thu, 15 Jul 2010 02:00:00 EDT

A group of former Israeli Air Force fighter pilots has taken a dogfight to the boardroom as Israel’s Magal Security Systems braces for a potentially bruising proxy battle…

“Accredited Investor” Reform: Wet Blanket on REIT Fund-Raising?

Thu, 15 Jul 2010 01:30:00 EDT

REITs may reel from re-regulation of financial services, even while reform rings out across the land. Not all REITs are affected equally, however, exposing players like...

AMC Entertainment Files for $450 Million IPO

Wed, 14 Jul 2010 19:00:00 EDT

Theater operator AMC Entertainment Inc filed with U.S. regulators to raise up to $450 million in an initial public offering of common stock...

CFTC Eyes its Role in High-Frequency Trade Era

Wed, 14 Jul 2010 13:00:00 EDT

The U.S. futures regulator must look carefully at new "risk controls" to protect markets in an era when trades are done 150 times faster than the blink of an eye, the head of a new technology panel for...

Iran Sells 18 Percent Stake in Carmaker

Wed, 14 Jul 2010 12:55:20 EDT

Iran's government has sold an 18 percent stake in Iran Khodro, the Middle East's biggest carmaker, for the equivalent of about $430 million...

U.S. Venture Capital Market Expected to Shrink While Emerging Markets Grow

Wed, 14 Jul 2010 08:00:00 EDT

Venture capitalists in the United States widely expect their industry to contract while those in emerging markets, including China, India and Brazil, expect to see...

Tata Steel Denies $2 Billion Fund Raising Report

Wed, 14 Jul 2010 02:46:24 EDT

Tata Steel denied a media report the company was planning to raise about $2 billion through fresh equity over the next quarter to help fund expansion. "Nothing at this point"...

Healthcare and Generics: Deals and Drugs on Fast Track

Wed, 14 Jul 2010 02:30:00 EDT

Major pharmaceutical deals, like those involving Teva and Pfizer, are unfolding under the twin pressures of healthcare reform in the U.S. and downward price pressure on...

PRC Hot Topic: Travel Industry Changes Kick Start M&A Holiday

Wed, 14 Jul 2010 01:30:00 EDT

Summer is turning up the heat in the northern hemisphere. As travelers are packing their bags, legal counsel of PRC hospitality and travel companies have been…

Israel's BioLineRx Readies NASDAQ Share Offer

Wed, 14 Jul 2010 01:08:08 EDT

Israeli drug development company BioLineRx is planning a share offering on U.S. exchange NASDAQ...

Guest Analysis: Chinese Developments in Anti-Monopoly Filings Part II

Tue, 13 Jul 2010 17:30:00 EDT

Under China’s Anti-Monopoly Law and the Filing Thresholds Regulations, the State Council has delegated to MOFCOM the right to investigate…

Ocado Faces Calls to Cut IPO Price Tag

Tue, 13 Jul 2010 13:58:38 EDT

British online grocer Ocado faced calls to cut the price of its planned initial public offering on Tuesday as analysts and investors said its hopes of a 1 billion pound...

European IPOs: Gambling on Business Risk

Tue, 13 Jul 2010 01:00:00 EDT

Whilst stock market wobbles continue to disrupt the IPO plans of many, a few surprisingly risky companies have managed to get their equity issues off the ground recently…

Playboy Bidding War Looms; Shares Rise

Mon, 12 Jul 2010 13:00:00 EDT

A bidding war for the bunny may be about to break out...

Disclosure Watch: China Unicom Discloses Telefonica Deal…Finally

Mon, 12 Jul 2010 02:00:00 EDT

In a sudden blast from the past, details of the US$1 billion deal between China Unicom and Spain’s Telefonica last year have finally been disclosed. The subscription agreement...

South African Markets - Factors to Watch on July 12

Mon, 12 Jul 2010 01:45:00 EDT

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets...

Dubai World to Meet Creditors July 22

Sun, 11 Jul 2010 08:29:56 EDT

Troubled state conglomerate Dubai World has invited creditors to a July 22 meeting to offer details on its multi-billion dollar debt restructuring, the first session to include all lenders since December 2009...

When A-Lists Delist: Abu Dhabi’s Aabar Investment Goes Private

Sun, 11 Jul 2010 01:00:00 EDT

Taking public companies private ascribes new meaning to the Latin maxim, e pluribus unum. Abu Dhabi’s publicly listed Aabar Investments PJSC has announced…

Vallar IPO Raises £707 Million

Fri, 9 Jul 2010 06:49:00 EDT

Vallar Plc, which is seeking to build up a mid-tier mining house from scratch, raised 707 million pounds in an initial public offering before formal trading begins on July 14, it said...

Wilbur Ross Buying 25 Pct Stake in Sun Bancorp

Thu, 8 Jul 2010 11:00:00 EDT

Billionaire investor Wilbur Ross is taking a 25 percent stake in Sun Bancorp, the New Jersey bank said on Thursday, sending its shares up as much as 47 percent...

Litigation Watch: SEC “Swaps” Insider Trading Loss for Regulatory Win

Thu, 8 Jul 2010 01:00:00 EDT

In a recent insider trading decision, a U.S. federal court in Manhattan ruled against the SEC in its first ever insider trading case involving credit default swaps or CDS…

Guest Analysis: Chinese Developments in Anti-Monopoly Filings Part I

Wed, 7 Jul 2010 19:00:00 EDT

In early November, 2009, the merger-control regulator of the People’s Republic of China, the Anti-Monopoly Bureau under the Ministry of Commerce, announced…

WaMu Trust Securities Holders Sue JPMorgan, WaMu

Wed, 7 Jul 2010 15:30:26 EDT

Holders of $1 billion of securities issued by a Washington Mutual Inc entity have sued to void an eve-of-bankruptcy exchange of their investment, according to a complaint filled with claims of fraud and secret agreements...

Media Executives See Small Deals as Key to Future

Wed, 7 Jul 2010 10:35:24 EDT

Small-sized acquisitions and strategic buys rather than blockbuster multibillion dollar deals will be on the minds of the media moguls and financiers who gather at this week's Sun Valley conference...

ICBC Could Raise $6.6 Billion in China Bank Funding Drive

Wed, 7 Jul 2010 02:46:30 EDT

ICBC, the world's most valuable lender, may raise up to $6.6 billion in new funding, sources said, joining Agricultural Bank of China, which priced its IPO to be the world's largest, in a rush to raise billions of dollars...

Bigger Role Seen for Emerging Financial Centers

Wed, 7 Jul 2010 02:45:00 EDT

London and New York are not about to lose their spots as the world's leading financial centers but they are being challenged by emerging market upstarts in a...

MEG Energy Plans C$1 Billion IPO

Tue, 6 Jul 2010 11:30:00 EDT

Oil sands producer MEG Energy Corp aims to raise about C$1 billion ($950 million) in an initial public offering late this month, selling about 23 million common shares as it...

Abertis Buyout Financing at 6-7 Billion Euros

Tue, 6 Jul 2010 10:37:59 EDT

Spanish motorway group Abertis' core owners and private equity firm CVC Capital Partners are set to secure 6-7 billion euros to fund their buyout of the firm next week, in spite of the ongoing global credit squeeze...

Gulf Needs Concrete Action for Emerging Market Leap

Tue, 6 Jul 2010 03:08:54 EDT

Gulf stock markets will miss out on getting on the global investment map unless regulators take concrete action to address concerns raised by MSCI, who denied the region emerging market status for the second year running...

IPO Watch: Green Dot Amends $150 Million IPO, Limiting Offering

Tue, 6 Jul 2010 00:30:00 EDT

Green Dot Corp, an issuer of general purpose reloadable prepaid debit cards, or GPR cards, has amended its $150 million initial public offering of…

Fairfield Opens Books on $500 Million IPO

Mon, 5 Jul 2010 06:23:32 EDT

British oil and gas company Fairfield Energy set a price range for its initial public offering (IPO), targeting proceeds of up to $500 million (330.4 million pound), two sources close to the deal said...

Backdating Backlash: Comverse Comes Full Circle With Settlement

Mon, 5 Jul 2010 02:00:00 EDT

Just when companies welcomed a sign that the SEC might be backing down on its backdating pursuit, the hammer of the plaintiffs’ bar has struck a blow for corporate transparency…

Saudi Airlines' Catering Unit Eyes IPO by March 2011

Sun, 4 Jul 2010 09:49:28 EDT

Saudi Arabian Catering Co, a unit of Saudi Airlines (Saudia), is eyeing a bourse listing by March 2011, while its ground handling unit will merge in July with two other firms...

Ridgebury Tankers Files for $250 Million IPO

Fri, 2 Jul 2010 18:30:00 EDT

Ridgebury Tankers Ltd filed with the U.S. Securities and Exchange Commission on Friday to raise up to $250 million in an initial public offering of common stock...

Capital Flows to BRIC Countries H1 2010

Fri, 2 Jul 2010 08:35:42 EDT

Investment flows to the world's four biggest emerging economies -- Brazil, Russia, India and China -- slowed slightly in the first half of 2010 but growth rates and the pace of dealmaking remain strong, data shows...

Bank of China Plans Rights Issue for $8.8 Billion

Fri, 2 Jul 2010 08:20:40 EDT

Bank of China Ltd, China's No.4 lender, plans to raise up to 60 billion yuan ($8.8 billion) through a rights offer, the company said in a statement...

Blockbuster Wins Debt Reprieve, Forced to Delist

Fri, 2 Jul 2010 07:30:00 EDT

Blockbuster Inc stayed a step ahead of bankruptcy after winning a crucial one-month reprieve on debt payments, but was forced to begin the process of delisting from...

Debt Watch: Virgin Courts Bondholders With Note Refinancing

Fri, 2 Jul 2010 02:30:00 EDT

Virgin Media has set the scene for possible share buy-backs, dividends or capital investments by putting itself in rude financial health with a…

Private Equity Watch: Blue Square’s Propco-Opco Spinoff

Fri, 2 Jul 2010 00:15:00 EDT

The private equity gambit of asset-shifting continues to find opportunistic participants…

Private Equity Takes Stake in BJ's

Thu, 1 Jul 2010 12:00:00 EDT

A private equity firm that has invested in several retailers has taken a 9.5 percent stake in BJ's Wholesale Club Inc and said it may propose taking the warehouse club operator private...

First Republic Completes Split From Bank of America

Thu, 1 Jul 2010 10:30:00 EDT

First Republic Bank, a lender to wealthy families that was prized by Merrill Lynch but deemed expendable by Bank of America Corp, celebrated its 25th birthday by...

Archer Daniels Invests $100 Million in China Bank

Thu, 1 Jul 2010 08:30:00 EDT

U.S. agricultural processor Archer Daniels Midland Co said it will invest $100 million in a Chinese bank and open an office in Beijing as part of its goal to boost sales in China...

AgBank HK Offer 10 Times Oversubscribed by Institutions

Thu, 1 Jul 2010 04:13:50 EDT

Agricultural Bank of China's Hong Kong share offering has been more than 10 times oversubscribed by institutional investors, signalling their healthy interest in the dual-market listing that could end up...

Barclays Sets Up Swiss Corp Bond Syndicate Team

Thu, 1 Jul 2010 03:44:34 EDT

Barclays Capital said it had set up a new syndicate bond, sales and trading team in Zurich to bolster its presence in the Swiss bond market...

Sumitomo Buys Stake in Usiminas Unit for $1.93 Billion

Thu, 1 Jul 2010 02:00:00 EDT

Usiminas, Brazil's largest maker of flat steel, said it is selling 30 percent of its mining unit to Japan's Sumitomo Corp for $1.93 billion, in a bid to raise cash to develop its...

IPO Watch: SMART Makes a Shrewd Move

Thu, 1 Jul 2010 00:30:00 EDT

SMART Technologies of Calgary is on the verge of one of the most highly anticipated Canadian tech IPOs in years…

Yahoo Board Approves $3 Billion Stock Buyback

Wed, 30 Jun 2010 20:30:00 EDT

Yahoo Inc approved a plan to repurchase up to $3 billion of its common stock over the next three years, the company said...

Egypt Islamic Finance Sector Faces Uphill Struggle

Wed, 30 Jun 2010 06:50:11 EDT

Egypt is likely to remain an Islamic finance laggard, hit by bad press from corruption scandals and a government keen to buttress its secular credentials and stymie Islamists ahead of elections next year...

Indosat Extends Debt Buyback Offer Period

Wed, 30 Jun 2010 03:47:58 EDT

Indonesian telecommunications company PT Indosat said that it has extended the deadline for holders of its debt due in 2010 and 2012 to accept its offer to buy back the bonds...