Wednesday, January 31, 2007
The First Stock Exchange for small companies opens in Russia
Tokyo joins NYSE in strategy for a global market
Nasdaq cosies up to Turquoise banks | Business | Money | Telegraph
Senate discuss stock market development in Kazakhstan
Tuesday, January 30, 2007
Polymetal Seeks $3Bln Valuation
The Russians are coming and they are heading for the Aim market
U.S. start-ups make debut on the London exchange AIM
Tokyo and New York stock exchanges complete negotiations for alliance
Monday, January 29, 2007
Russian GDRs
Overseas bourses eye holding in OTCEI – report
Overseas bourses eye holding in OTCEI – report Story A few overseas bourses are eyeing a holding in the currently non-functioning Over the Counter Exchange of India (OTCEI), reported the Business Standard. The newspaper did not cite any source for the specific piece of information, but said that China Shanghai Stock Exchange could be eyeing a 5% OTCEI holding, and added that AIM (Alternative Investment Market) of London and South Korean stock exchange could also be eyeing unspecified holdings in OTCEI. The paper said that a sub-committee has been set up by the Securities and Exchange Board of India for OTCEI’s revival. According to information on the OTCEI Web site, it registered a turnover of INR 3.99111bn (USD 88.7m) for the first eight months of 2001.
Source Business Standard, Company Web site
Source Business Standard, Company Web site
Telegraph | Business | Aim chief condemns attack on market as 'complete garbage'
Sunday, January 28, 2007
NYSE chief says Aim must raise standards
International public offering
Saturday, January 27, 2007
DAVOS-NYSE CEO sees Tokyo exchange link-up next week
Wednesday, January 24, 2007
BLOOMBERG/SCHUMER REPORT: NY IN DANGER OF LOSING STATUS AS WORLD FINANCIAL CENTER WITHIN 10 YEARS WITHOUT MAJOR SHIFT IN REGULATION AND POLICY
London Stock Exchange tells Nasdaq to 'shut up or put up' as bid deadline nears
DAVOS INTERVIEW Warsaw stock market chief planning link-ups; sees 2007 IPO boost
London's embrace of globalisation has enabled it to edge ahead of even New York
Nasdaq 'surprised' at LSE failure to engage
LSE, Nasdaq trade barbs again
Tokyo Stock Exchange discloses alliance with NYSE may be announced soon
Tuesday, January 23, 2007
Borsa 'holding out' for LSE alliance
Euronext chief sees markets dominated by 2-3 global exchange groups within yrs
Sunday, January 21, 2007
Brokers want BSE to take offer-for-sale route
LSE plots aggressive response
Saturday, January 20, 2007
LSE shares soar on talk of higher bid from Nasdaq
LSE may seek shelter with Euronext and New York
Richard Wachman, city editorSunday January 21, 2007 The Observer
The London Stock Exchange could link with Paris-based Euronext and the New York Stock Exchange if it escapes the clutches of Nasdaq, according to City analysts. Nasdaq has made a hostile £2.7bn bid.
The London Stock Exchange could link with Paris-based Euronext and the New York Stock Exchange if it escapes the clutches of Nasdaq, according to City analysts. Nasdaq has made a hostile £2.7bn bid.
Friday, January 19, 2007
Pakistan plans more GDRs
New form of Indian deals may usurp GDRs
Netherlands Regulator Allows Brokers To Directly Access DIFX
Euroclear and Clearing Corp. of India Formalize Cooperation
ADP to name spun off brokerage unit Broadridge
Ex-ASX man will head NZ's bid to beat monopoly
Deutsche Börse eyes new structure as Furse pledges tie-up
Deutsche Börse, the German exchange group whose shares hit a record high this month, is considering splitting its management structure in a move that could help it pursue a merger or acquisition.
LSE £250m handout to fight Nasdaq bid
Wednesday, January 17, 2007
MONEYWEB:Tracey Pierce: Head of Global Business Development, London Stock Exchange
Financial services - Clearing platforms face shake-up
Monday, January 15, 2007
Triumphal step of Rouble
Beijing drafts rules for foreign bourse offices
Russian Ruble (RUB) Eligible For Settlement In Clearstream
Hong Kong, China stock markets integration proposed by HK advisory group -UPDATE
London's AIM and Shanghai, Korea bourses eyeing stakes in India's OTCEI - report
Sunday, January 14, 2007
Time to check your property portfolio?
Dubai: So what's this coming our way?
They may not be so familiar, but real estate investment trusts (REITs) are one of the most popular investment vehicles in the US, laws of which were enacted in 1960. They have also become popular in the Far East.
They may not be so familiar, but real estate investment trusts (REITs) are one of the most popular investment vehicles in the US, laws of which were enacted in 1960. They have also become popular in the Far East.
Hong Kong to amend listing rules to attract more foreign companies - Tsang
Hong Kong leaves ASX in its wake
Raider plots to force LSE into merger | | Guardian Unlimited Business
Saturday, January 13, 2007
Taking AIM: Canuck firms looking for cash in London
Friday, January 12, 2007
Baltimor mulling IPO in 2008 or 2009
Baltimor mulling IPO in 2008 or 2009
mergermarket
Story Baltimor Holding, a privately-held Russian ketchup and canned products producer, is considering launching an initial public offering in 2008 or 2009, said a company spokesperson.
However, it has not been decided yet if the company would list on either the London and Russian stock exchanges. Also, the company has not decided on the size of the IPO.
The proceeds from IPO would be spent on building new plants to increase the company's presence in the Russian regions. The spokesperson did not rule out the possibility of entering other markets within the Commonwealth of Independent States.
The spokesperson denied that the company would be interested in selling the stake to a strategic partner, as had been previously reported by the Russian press.
Baltimor's turnover in 2006 amounted to USD 137m, a 20% increase compared with 2005, Its market share within the Russian ketchup market stands at 48%, said the spokesperson.
Baltimor is involved in producing ketchups, canned products, fruit and vegetable juices, mayonnaise and other sauces, as well as frozen vegetables.
Baltimor Holding is headquartered in Saint Petersburg and employs 2,100 people. The company’s plants are located in the cities of Saint Petersburg, Moscow, Khabarovsk and Krasnodar.
The spokesperson disclosed that Baltimor belonged to three major private shareholders. Aleksey Antipov owns 70% stake, with the remaining 30% owned by Marek Getka and Mila Gutkova in equal
mergermarket
Story Baltimor Holding, a privately-held Russian ketchup and canned products producer, is considering launching an initial public offering in 2008 or 2009, said a company spokesperson.
However, it has not been decided yet if the company would list on either the London and Russian stock exchanges. Also, the company has not decided on the size of the IPO.
The proceeds from IPO would be spent on building new plants to increase the company's presence in the Russian regions. The spokesperson did not rule out the possibility of entering other markets within the Commonwealth of Independent States.
The spokesperson denied that the company would be interested in selling the stake to a strategic partner, as had been previously reported by the Russian press.
Baltimor's turnover in 2006 amounted to USD 137m, a 20% increase compared with 2005, Its market share within the Russian ketchup market stands at 48%, said the spokesperson.
Baltimor is involved in producing ketchups, canned products, fruit and vegetable juices, mayonnaise and other sauces, as well as frozen vegetables.
Baltimor Holding is headquartered in Saint Petersburg and employs 2,100 people. The company’s plants are located in the cities of Saint Petersburg, Moscow, Khabarovsk and Krasnodar.
The spokesperson disclosed that Baltimor belonged to three major private shareholders. Aleksey Antipov owns 70% stake, with the remaining 30% owned by Marek Getka and Mila Gutkova in equal
Renaissance Capital not in talks over possible sale
Renaissance Capital not in talks over possible sale
Story Russian investment bank Renaissance Capital has not been in talks over a potential sale, The Moscow Times reported. This remark was made by Renaissance Capital founder Stephen Jennings, in a lengthy interview published yesterday in Vedomosti, MT reported.
Renaissance Capital‘s asset management division has USD 2.5bn worth assets under management, the paper noted.
Source The Moscow Times, Vedomosti
Story Russian investment bank Renaissance Capital has not been in talks over a potential sale, The Moscow Times reported. This remark was made by Renaissance Capital founder Stephen Jennings, in a lengthy interview published yesterday in Vedomosti, MT reported.
Renaissance Capital‘s asset management division has USD 2.5bn worth assets under management, the paper noted.
Source The Moscow Times, Vedomosti
Lloyds TSB shares climb on rehashed speculation of bid from Spanish rival – market reports
Lloyds TSB shares climb on rehashed speculation of bid from Spanish rival – market reports
Story Lloyds TSB was said to have attracted bid interest from a Spanish rival, according to a market report in the Financial Times. The report did not attribute rumours that either Santander Central Hispano or BBVA were interested in bidding for the UK-listed bank.
A Daily Express market report, also unattributed, mentioned possible interest in Lloyds from the US as well as from Spain.
Lloyds TSB shares closed 0.9% up at 583p, valuing the company at GBP 33.33bn (EUR 50.28bn).
Source Financial Times, Daily Express
Story Lloyds TSB was said to have attracted bid interest from a Spanish rival, according to a market report in the Financial Times. The report did not attribute rumours that either Santander Central Hispano or BBVA were interested in bidding for the UK-listed bank.
A Daily Express market report, also unattributed, mentioned possible interest in Lloyds from the US as well as from Spain.
Lloyds TSB shares closed 0.9% up at 583p, valuing the company at GBP 33.33bn (EUR 50.28bn).
Source Financial Times, Daily Express
Cox, Campos think out loud on key corporate issues
IR magazine- a Cross Border publication: "Cox, Campos think out loud on key corporate issues "
Nasdaq struggles for LSE shares
Helter-smelter as Zinifex, Umicore seek to rule the zinc world | Bryan Frith | The Australian
Thursday, January 11, 2007
Even the ASX may be target
Foreign bid for Aussie bourse
ASX hoses down NYSE takeover speculation
NYSE Is Close to Forming Alliance With Tokyo Exchange
Northwest steps into Delta fight
NYSE buys into Indian bourse
UK hedge fund listing to raise £1bn
GV Gold Plans IPO to Fund Output Rise
Wednesday, January 10, 2007
Central Asian Investment Conference to be held in Almaty
LSE: Heyman increases stake to more than 10% - reports
Samuel Heyman, the private investor, has increased his shareholding in the London Stock Exchange (LSE) to more than 10%, a Daily Telegraph report said.
The 10% figure is important in that it gives Heyman the ability to call an extraordinary meeting to force LSE’s board into talks with Nasdaq, the US-listed stock exchange operator, should he wish. The report did not directly attribute the claim regarding Heyman's stake-building.
Heyman has on several occasions used such a strategy to engineer higher returns for investors, the report noted. He recently was believed to be one of several parties involved in a letter from several hedge funds to the directors of Arcelor, demanding a vote on its merger with Mittal Steel, the report explained.
Heyman’s plans for his stake in LSE are not known, the item continued. However, it is anticipated that Heyman’s involvement goes beyond a mere quick return. His recent transactions would indicate that Heyman would be reluctant to take Nasdaq’s 1243p per share takeover bid for LSE, even though it is believed that Heyman has built his LSE stake at below the bid price, the report added.
Heyman’s latest share buy, via a contract-for-difference, is 3% higher than the Nasdaq bid price, the report continued. Heyman’s stake now stands at 10.03% via his Heyman Investment and Vesper Holdings vehicles.
Separately, the Financial Times reported that LSE yesterday published third quarter results detailing an upswing in trading for December. Pre-tax profits increased by 10% to GBP 44.2m (EUR 65.9m) during the third quarter ending 31 December, 2006, LSE said. The Financial Times report also noted Heyman’s stake-building. LSE shares closed 2p down at 1280p, giving the company a market capitalisation of GBP 2.72bn (EUR 4.06bn).
The 10% figure is important in that it gives Heyman the ability to call an extraordinary meeting to force LSE’s board into talks with Nasdaq, the US-listed stock exchange operator, should he wish. The report did not directly attribute the claim regarding Heyman's stake-building.
Heyman has on several occasions used such a strategy to engineer higher returns for investors, the report noted. He recently was believed to be one of several parties involved in a letter from several hedge funds to the directors of Arcelor, demanding a vote on its merger with Mittal Steel, the report explained.
Heyman’s plans for his stake in LSE are not known, the item continued. However, it is anticipated that Heyman’s involvement goes beyond a mere quick return. His recent transactions would indicate that Heyman would be reluctant to take Nasdaq’s 1243p per share takeover bid for LSE, even though it is believed that Heyman has built his LSE stake at below the bid price, the report added.
Heyman’s latest share buy, via a contract-for-difference, is 3% higher than the Nasdaq bid price, the report continued. Heyman’s stake now stands at 10.03% via his Heyman Investment and Vesper Holdings vehicles.
Separately, the Financial Times reported that LSE yesterday published third quarter results detailing an upswing in trading for December. Pre-tax profits increased by 10% to GBP 44.2m (EUR 65.9m) during the third quarter ending 31 December, 2006, LSE said. The Financial Times report also noted Heyman’s stake-building. LSE shares closed 2p down at 1280p, giving the company a market capitalisation of GBP 2.72bn (EUR 4.06bn).
Lukoil: ConocoPhillips increases stake to 20%
Lukoil, the listed Russian oil firm, has seen US-listed energy giant ConocoPhillips increase its stake in Lukoil to 20%, at the end of 2006. This was reported in Vedomosti, which referred to ConocoPhillips’ preliminary reports for Q4 2006.
A Rzeczpospolita report referred to Lukoil and wrote that ConocoPhillips increased stake from 18% to 20%, as it was anticipated in a strategic agreement between the parties. Vedomosti reported that in 2004, ConocoPhillips bought over 11% ordinary shares in Lukoil.
In 2005, Lukoil recorded sales of USD 55.7bn, according to company web site.
A Rzeczpospolita report referred to Lukoil and wrote that ConocoPhillips increased stake from 18% to 20%, as it was anticipated in a strategic agreement between the parties. Vedomosti reported that in 2004, ConocoPhillips bought over 11% ordinary shares in Lukoil.
In 2005, Lukoil recorded sales of USD 55.7bn, according to company web site.
Russian company set for £1.2bn float on LSE
Tuesday, January 09, 2007
LSE fights bid with rising profit
Nasdaq turns aggressive in bid for LSE
Polymetal to list in London and Moscow
Monday, January 08, 2007
Nasdaq still confident of LSE win
LSE rushes out figures to fight bid
Record number of IPOs bolsters LSE's defence against Nasdaq bid | | Guardian Unlimited Business
Sunday, January 07, 2007
Growth boosts LSE's Nasdaq battle
LSE: Panel slaps Nasdaq's wrist over raised bid report
BSE shortlists 5 foreign exchanges for stake: paper
Saturday, January 06, 2007
São Paulo Stock Exchange trading volume increased 49.3% in 2006
New Bermuda Stock Exchange Business Continues To Build Momentum From 2005 Recognitions
Condor Resources seeks financial advisor, selection likely in January
Condor Resources, a UK listed mining company with assets in Latin America, is seeking a second financial advisor, the company’s CEO said.
Nigel Ferguson, the Condor CEO, said that the company was seeking an additional financial advisor and broker to complement the work done by Nabarro Wells, who are currently both the company’s Nominated Advisor (Nomad) for the company’s AIM listing, as well as its financial advisor for corporate matters such as M&A activity. The CEO said that the company had its short-list down to two advisors for the new appointment, and that the company hoped to make a final decision by the end of January 2007.
He said that either of the short-listed companies would have no difficulties helping Condor raise up to GBP 30m for acquisitions, although Ferguson underlined that Condor had no need to go to the market for new funds prior to 2008. The company currently has a market cap of round GBP 10m.
Ferguson said that Condor would be looking for acquisitions within Latin America, possibly including Mexico, although the group currently operates in Nicaragua and El Salvador. He said that production from the group’s El Salvador assets was likely between 18 and 36 months away, depending if it chose a joint venture option or to put its holdings into production itself.
The Condor CEO said that the group had in the past been approached about the purchase of some assets in Southeast Asia, and refused to rule out any global location for potential purchases.
Ferguson also said that the company would eventually consider listing on other stock exchanges, noting that the group had had a listing on the Australian Stock Exchange (ASX) pulled at the last minute due to market conditions. However, the Condor CEO questioned whether an Australian listing would be good value for the company, despite the group having a significant office and shareholder base in that country.
Source mergermarket
Nigel Ferguson, the Condor CEO, said that the company was seeking an additional financial advisor and broker to complement the work done by Nabarro Wells, who are currently both the company’s Nominated Advisor (Nomad) for the company’s AIM listing, as well as its financial advisor for corporate matters such as M&A activity. The CEO said that the company had its short-list down to two advisors for the new appointment, and that the company hoped to make a final decision by the end of January 2007.
He said that either of the short-listed companies would have no difficulties helping Condor raise up to GBP 30m for acquisitions, although Ferguson underlined that Condor had no need to go to the market for new funds prior to 2008. The company currently has a market cap of round GBP 10m.
Ferguson said that Condor would be looking for acquisitions within Latin America, possibly including Mexico, although the group currently operates in Nicaragua and El Salvador. He said that production from the group’s El Salvador assets was likely between 18 and 36 months away, depending if it chose a joint venture option or to put its holdings into production itself.
The Condor CEO said that the group had in the past been approached about the purchase of some assets in Southeast Asia, and refused to rule out any global location for potential purchases.
Ferguson also said that the company would eventually consider listing on other stock exchanges, noting that the group had had a listing on the Australian Stock Exchange (ASX) pulled at the last minute due to market conditions. However, the Condor CEO questioned whether an Australian listing would be good value for the company, despite the group having a significant office and shareholder base in that country.
Source mergermarket
Petmin to use UK listing to boost further acquisitions, COO says
Petmin, the South African mining company, sees its UK listing as a building block to more significant acquisitions, the company’s COO said.
Bradley Doig, the company’s chief operating officer, speaking in a telephone interview, said that Petmin viewed its initially modest London listing as a way to make contact with large European investors who could later help the company make significant acquisitions.
Petmin raised gross proceeds of GBP 3.6m from its listing, but has a market cap of GBP 43.2m. The company will retain its South African listing on the Johannesburg Stock Exchange. Doig said that the company intended to use some of the proceeds from the UK listing for the purchase of additional capacity at the Richards Bay coal export terminal in South Africa.
Doig emphasised that the company was already a producing group within South Africa, and that the firm was not an exploration company. The group currently produces silica and anthracite within South Africa of around 2.5 million y/yr. The anthracite is moved internationally for export through the Richards Bay terminal.
Doig said that the group’s profile as a coal producer meant that the company would only look at acquisition targets that were either already in production or had very mature reserves that were close to output and easy to develop. He said that Petmin was looking across South Africa for potential acquisitions, but added that the company was also looking globally at targets in South America and Asia.
Source mergermarket
Bradley Doig, the company’s chief operating officer, speaking in a telephone interview, said that Petmin viewed its initially modest London listing as a way to make contact with large European investors who could later help the company make significant acquisitions.
Petmin raised gross proceeds of GBP 3.6m from its listing, but has a market cap of GBP 43.2m. The company will retain its South African listing on the Johannesburg Stock Exchange. Doig said that the company intended to use some of the proceeds from the UK listing for the purchase of additional capacity at the Richards Bay coal export terminal in South Africa.
Doig emphasised that the company was already a producing group within South Africa, and that the firm was not an exploration company. The group currently produces silica and anthracite within South Africa of around 2.5 million y/yr. The anthracite is moved internationally for export through the Richards Bay terminal.
Doig said that the group’s profile as a coal producer meant that the company would only look at acquisition targets that were either already in production or had very mature reserves that were close to output and easy to develop. He said that Petmin was looking across South Africa for potential acquisitions, but added that the company was also looking globally at targets in South America and Asia.
Source mergermarket
Friday, January 05, 2007
Why lacklustre Aim is still the best alternative
Thursday, January 04, 2007
Telegraph | Business | One in 10 missed Standard windfall
Why lacklustre Aim is still the best alternative
Forget Noah, Aim is keeping well afloat
At the end of a year in which the Alternative Investment Market (Aim) tracked sideways, another pulled float on London's junior bourse had the look of a straw in the wind. When the index was a one-way street, fund managers didn't bother to look too closely at the exotic companies tapping the City for money. Now they are increasingly picky as Noah, a Chinese electronics group, found to its cost yesterday.
With such juicy returns on offer from the market's bigger companies, it's only to be expected that some investors have become sniffy about Aim. Why take the risk of investing in an unproven young business when you can play spot the takeover further up the tree and book an annual return of around 30pc including the dividend.
But as our analysis of the Aim market on our centre pages shows, the alternative market is doing better than its headline performance might suggest. Look behind the average and there's a wealth of investment opportunity. Almost 200 shares rose by more than 50pc last year, so a stock-picker had plenty of chances to beat the index.
The record amount of money raised by Aim flotations last year shows that Noah is the exception that proves the rule. Although there were fewer listings than in 2005, they were quite a bit bigger on average. Who would have thought that Aim raises more money for flotations than either Frankfurt or Tokyo? The success of the market has invoked the ire of American politicians of late who have claimed that Aim is too lax. I'm sure this would have nothing to do with the fact that Nasdaq, America's "growth" market for aspiring companies, has been clearly losing out to Aim in attracting the flotations of international businesses and, of course, is locked in a bitter takeover battle for Aim's parent, the London Stock Exchange (LSE). The LSE bowed to pressure last year and took a look at its rule-book to see if the guidelines that made sense when the junior market was launched in 1995 with a handful of relatively tiny domestic companies still cut the mustard for today's much larger, international bourse.
It wisely took the view that, with a few tweaks, the light-touch regulation that has been Aim's biggest attraction should continue to guide this most successful of markets. There is also the best self-regulation of all for investors to rely on — caveat emptor.
With such juicy returns on offer from the market's bigger companies, it's only to be expected that some investors have become sniffy about Aim. Why take the risk of investing in an unproven young business when you can play spot the takeover further up the tree and book an annual return of around 30pc including the dividend.
But as our analysis of the Aim market on our centre pages shows, the alternative market is doing better than its headline performance might suggest. Look behind the average and there's a wealth of investment opportunity. Almost 200 shares rose by more than 50pc last year, so a stock-picker had plenty of chances to beat the index.
The record amount of money raised by Aim flotations last year shows that Noah is the exception that proves the rule. Although there were fewer listings than in 2005, they were quite a bit bigger on average. Who would have thought that Aim raises more money for flotations than either Frankfurt or Tokyo? The success of the market has invoked the ire of American politicians of late who have claimed that Aim is too lax. I'm sure this would have nothing to do with the fact that Nasdaq, America's "growth" market for aspiring companies, has been clearly losing out to Aim in attracting the flotations of international businesses and, of course, is locked in a bitter takeover battle for Aim's parent, the London Stock Exchange (LSE). The LSE bowed to pressure last year and took a look at its rule-book to see if the guidelines that made sense when the junior market was launched in 1995 with a handful of relatively tiny domestic companies still cut the mustard for today's much larger, international bourse.
It wisely took the view that, with a few tweaks, the light-touch regulation that has been Aim's biggest attraction should continue to guide this most successful of markets. There is also the best self-regulation of all for investors to rely on — caveat emptor.
Wednesday, January 03, 2007
MICEX and Deutsche Börse AG sign memorandum of understanding
Foreign Firm to be Listed on KRX
Exchange battles mask Europe's silence
Monday, January 01, 2007
Indian bourses beat LSE, NYSE in number of IPOs : HindustanTimes.com
