Global Capital Markets: February 2007

Tuesday, February 27, 2007

Share sale knocks Chinese market

BBC NEWS Business Share sale knocks Chinese market

# posted by Jeff : 6:15 AM

Inprom Opting for Moscow Float

# posted by Jeff : 1:55 AM

Africa Israel Plans IPO in London

# posted by Jeff : 1:55 AM

Eurasia Gold Planning IPO on London Stock Exchange

# posted by Jeff : 1:54 AM

Sunday, February 25, 2007

Rule book aims to leave nomads with no excuses

FT.com / Companies / UK - Rule book aims to leave nomads with no excuses

# posted by Jeff : 2:44 AM

SEC looks abroad on shareholder voting rights

FT.com / Companies / US & Canada - SEC looks abroad on shareholder voting rights

# posted by Jeff : 2:42 AM

Friday, February 23, 2007

London and Tokyo combine

FT.com / Companies / UK - London and Tokyo combine

Also announcement details:

London Stock Exchange and Tokyo Stock Exchange Sign Co-operation Agreement
Story
The London Stock Exchange and Tokyo Stock Exchange, today announced details of an agreement aimed at enhancing their international presence through co-operation on access arrangements and the development of new products. This is the first time that the two exchanges have agreed to work together, and it is expected that the co-operation will bring benefits for investors, issuers and member firms. A Task Force composed of senior staff from both exchanges, will shortly begin a series of regular meetings to consider development opportunities in several key areas and identify the areas in which the London Stock Exchange and Tokyo Stock Exchange will work together over the long term. Areas for immediate consideration include: The operation and regulation of markets for growth companies. The creation and promotion of new jointly traded products. Co-operative schemes to encourage access by member firms to each other’s markets with the eventual aim of providing a round-the-clock trading environment. In addition, the exchanges will share information on technology, as they both deliver next generation systems to their markets.
Source
Stock Exchange Announcement(s)

# posted by Jeff : 2:32 AM

Thursday, February 22, 2007

Barclays in Russia

LONDON (AFX) - Barclays PLC is planning to become the first British high street bank to set up a retail branch in Russia, The Times has reported. The newspaper said the company is planning its return to the country after its banking division, now renamed Barclays Capital, pulled out of the country when it lost 250 mln stg in the Russian currency default. Banking rival HSBC revealed this month it is applying for a consumer banking licence in Russia, where it already has corporate and investment banking interests.

# posted by Jeff : 4:06 AM

Wednesday, February 21, 2007

Tel Aviv Stock Exchange And Embassy Of Israel In London Announce Successful Opening Of The Israel Opportunity 2007 Investor Conference

# posted by Jeff : 6:46 PM

London Stock Exchange And Tel Aviv Stock Exchange Sign MOU

# posted by Jeff : 2:38 AM

London Stock Exchange Issues New AIM Rulebook For Nominated Advisers

# posted by Jeff : 2:32 AM

The Number Of Russian Individual Investors On The MICEX Stock Exchange Has Exceeded 250 000 People

# posted by Jeff : 2:31 AM

PLUS Markets Group Statement Re Today’s Ministerial Statement On Trading In Financial Instruments

# posted by Jeff : 2:29 AM

Tuesday, February 20, 2007

ICSA publishes guidance on electronic communications with shareholders - Institute of Chartered Secretaries and Administrators (ICSA)

# posted by Jeff : 2:26 AM

Monday, February 19, 2007

Russians covet Anglo Gold

RUSSIA’S Polyus Gold, which is preparing for a London listing, has approached Anglo American to buy its £2.25 billion stake in another mining company Anglo Gold Ashanti.

# posted by P : 1:56 PM

LSE draws up new tough guideline for AIM nomads

The London Stock Exchange is expected to publish strict guide-lines this week for advisers bringing companies to AIM, the junior London market.

# posted by P : 1:53 PM

Citigroup to list on Tokyo Stock Exchange: Nikkei

TOKYO (Reuters) - Citigroup, the largest U.S. bank, plans to list on the Tokyo Stock Exchange later this year, a move that could make it easier to buy Japanese firms through stock swaps, the Nihon Keizai (Nikkei) business daily reported on Sunday.

# posted by P : 1:51 PM

Russian bank poised for record issue

FT.com / Home UK / UK - Russian bank poised for record issue

# posted by Jeff : 2:22 AM

Sunday, February 18, 2007

Source says Polyus not seeking Anglo Gold stake

Scotsman.com Business - Latest News - Source says Polyus not seeking Anglo Gold stake

# posted by Jeff : 12:13 PM

LSE ready for another Chinese listings record | Business | The Observer

LSE ready for another Chinese listings record Business The Observer

# posted by Jeff : 5:00 AM

Saturday, February 17, 2007

European Commissioner Charlie McCreevy Welcomes European Parliament Vote On Shareholder Voting Rights In First Reading

# posted by Jeff : 3:54 AM

Thursday, February 15, 2007

Vedanta Resources shares up on speculation of an offer from either Rio Tinto or BHP Billiton – market report

Vedanta Resources saw its shares surge to 1280p on talks that it could receive an offer either from Rio Tinto or BHP Billiton, The Daily Mail market report said. Vedanta, the India-based UK-listed mining company, has a market capitalisation of GBP 3.67bn (EUR 5.5bn).
Source
Daily Mail

# posted by Jeff : 3:06 AM

Wednesday, February 14, 2007

Adele Ferguson: BHP set to ditch dual listing

AS the BHP Billiton board moves a step closer to picking a replacement for chief executive Chip Goodyear, the market is bracing for an announcement that it will ditch its dual listed structure and make a bid for an oil, aluminium or diversified mining company.

# posted by P : 8:07 PM

Nymex to Pay About $70 Million for Montreal Stake

Feb. 14 (Bloomberg) -- The New York Mercantile Exchange, the world's largest energy market, will acquire a 10 percent equity stake in Canada's Montreal Exchange Inc. for about $70 million.

# posted by P : 8:03 PM

‘Empty voting’ ploy used by hedge funds is on SEC’s radar

PHILADELPHIA — The practice of borrowing company stock to manipulate the outcome of company votes has piqued the interest of the Securities and Exchange Commission and has rekindled a debate over stock lending.

# posted by P : 8:00 PM

HKEx Announces Senior Executive Appointments And Revised Corporate Structure

Hong Kong Exchanges and Clearing Limited (HKEx) announced today (Wednesday) senior executive appointments and a revised organisation structure. In line with its Strategic Plan 2007 - 2009, these organisational changes are being implemented to help HKEx to better serve its customers in the primary and secondary markets and further improve its operational efficiency.

# posted by P : 7:57 PM

Euroclear Extends Accounting Currency List

Major European clearing-and-settlement company Euroclear introduced Russian ruble as accounting currency from today on. Experts see this decision as a sign that international markets acknowledged that currency law became more liberal. Meanwhile, Russian issuers of ruble Eurobonds will become able to considerably expand the circle of potential clients.

# posted by P : 7:56 PM

LSE believes it can work in harmony with Nasdaq

The London Stock Exchange believes it can work in harmony with Nasdaq, the US exchange which launched an unsuccessful £2.7bn bid for the market and still owns 28.75% of its shares.

# posted by P : 7:52 PM

SEC approves NYSE Group-Euronext deal

WASHINGTON, Feb 14 (Reuters) - The U.S. Securities and Exchange Commission approved on Wednesday the proposed $14 billion merger between NYSE Group Inc. and Euronext, clearing the path to creating the first transatlantic bourse.

# posted by P : 7:50 PM

Sebi okay with bourse for SMEs

The Securities and Exchange Board of India ( SEBI) is understood to have taken an in-principle view to promote an exchange for small and medium enterprises (SME exchange) as part of the existing stock exchanges.

# posted by P : 7:47 PM

Tokyo Stock Exchange in talks to take stake in LSE

Looking to London: the Tokyo stock exchange is considering a stake in the LSE

# posted by P : 7:46 PM

BBC NEWS | Business | Deutsche Boerse 'in Indian deal'

BBC NEWS Business Deutsche Boerse 'in Indian deal'

# posted by Jeff : 3:20 AM

London Stock Exchange had held talks with Borsa Italiana twice; Bolsas y Mercados Españoles could be of interest - report

London Stock Exchange, the UK stock exchange operator that saw shareholders reject Nasdaq's overtures, has held talks with Borsa Italiana, reported the Wall Street Journal. The report, citing people familiar with the matter, reported that LSE and Borsa Italiana have had initial talks twice but both times talks were interrupted by bids for LSE. According to the report, which was part of a story looking at LSE's prospects, analyst said there are not many targets for LSE to strike a deal with. The report, citing a person familiar with the matter, noted that Bolsas y Mercados Españoles, the Spanish exchange, could be of interest to LSE but that a deal could face political problems. LSE rejected a USD 3.7bn offer from Nasdaq.
Source
Wall Street Journal

# posted by Jeff : 3:03 AM

Smurfit Kappa to announce £3.6bn flotation | Business | Money | Telegraph

Smurfit Kappa to announce £3.6bn flotation Business Money Telegraph

# posted by Jeff : 1:37 AM

Tuesday, February 13, 2007

London Stock Exchange Welcomes First Major International Company Of 2007

# posted by Jeff : 6:28 PM

Moscow to Become Europe's Second-Largest Financial Centre

Moscow to Become Europe’s Second-Largest Financial Centre
Stephen Jennings, CEO of the Renaissance Capital Group, said Russia is the best developing market in the world. He believes that despite current problems, Moscow will eventually become Europe’s second-largest financial centre.London is the financial capital of Europe, Jennings said, but Moscow will surge ahead of Frankfurt, Paris and Milan in all segments of the financial market. “We cannot now imagine the scale of change,” he said, “as the process will last not five or even 10 years, but 15-20 years.”

# posted by Jeff : 10:45 AM

Exchange Transactions Should Be Tax-Free – Head of FFMS

If Russia wants Moscow to become a financial centre of the world, exchange transactions should be made tax-free, said Oleg Vyugin, head of the Federal Financial Markets Service. Both strategic investors and speculators work on the exchanges, but it is speculators who ensure turnover and who will not survive if a tax is levied on each transaction. Concurrently, strategic investors who do not sell or buy every day will interpret tax-free transactions as an invitation to cooperation.Mr Vyugin said investors are working in offshore zones where they do not have to pay taxes: “A tax on capital increment will not produce the desired effect,” he said. “If we cancel this tax, we may urge players to leave offshore zones.”

# posted by Jeff : 10:44 AM

Citic Resources sells shares amid hopes for Kazakhstan deal - General News - FinanceAsia.com - The network for financial decision makers

# posted by Jeff : 7:56 AM

The challenges of a global economy

BBC NEWS Business The challenges of a global economy

# posted by Jeff : 4:23 AM

New York Stock Exchange could pursue London Stock Exchange - report

New York Stock Exchange, the New York listed trading exchange operator, could be a suitor for the London Stock Exchange, reported the New York Times. The unsourced report, part of a story looking at Nasdaq'a failed USD 3.7bn bid for LSE, reported that while Nasdaq's stake in LSE would make it difficult for other suitors to mount a bid for LSE, New York Stock Exchange is seen as a suitor. According to the report, New York Stock Exchange Chief Executive John Thain said last month the LSE is the second biggest brand in the stock market industry behind New York Stock Exchange. The report noted Thain said then he wasn't keen on mergers until it integrates Euronext, which could take a year.
Source
New York Times

# posted by Jeff : 3:02 AM

Business | Mining firms 'eye Alcoa takeover'

BBC NEWS Business Mining firms 'eye Alcoa takeover'

# posted by Jeff : 2:24 AM

Revelling LSE launches £250m buy-back

FT.com / Companies / UK - Revelling LSE launches £250m buy-back

# posted by Jeff : 2:15 AM

Integra Seeks High IPO Value

# posted by Jeff : 2:13 AM

JSE readies for electronic voting with iProxy

Business Day - News Worth Knowing

# posted by Jeff : 2:09 AM

Monday, February 12, 2007

G7 takes aim at overlapping regulatory burdens

Finance chiefs of the world's seven richest nations agreed over the weekend to look at ways to cut back on overlapping regulations for companies doing business internationally while at the same time recognizing each nation's unique rules and standards.

# posted by P : 9:08 PM

BBC NEWS | Business | Uranium mining groups plan merger

BBC NEWS Business Uranium mining groups plan merger

# posted by Jeff : 4:04 PM

New York will lose ground: Get used to it-Business-Columnists-TimesOnline

# posted by Jeff : 6:19 AM

Sunday, February 11, 2007

Virgin Co's

Virgin Media considering secondary listing in London - report

Virgin Mobile USA set for 2 bln usd float - report

# posted by P : 5:45 PM

Al Jaber plans secondary listing of GPS in UAE

Dubai: Abu Dhabi-based diversified conglomerate Al Jaber Group is likely to offer a secondary listing of its newly acquired subsidiary GPS Group, which is preparing for a $55 million initial public offering (IPO) on London's Alternative Investment Market (AIM) in February.

# posted by P : 5:39 PM

BHP set to ditch its dual listing

AS the BHP Billiton board moves closer to picking a replacement for chief executive Chip Goodyear, the market is bracing for an announcement that it will ditch its dual listed structure and make a bid for an oil, aluminium or diversified mining company.

# posted by P : 5:35 PM

Failure of LSE Bid Pressures on Nasdaq

The Nasdaq Stock Market Inc., having failed in its $5.3 billion hostile takeover bid for the London Stock Exchange, is now seen scrambling to lay out a European strategy that will appease its shareholders and ensure that it won't be left behind as other major exchanges consolidate.

# posted by P : 4:25 PM

Vodafone wins race for India's Hutch Essar-source | News | Mergers/Acquisitions | Reuters

Vodafone wins race for India's Hutch Essar-source News Mergers/Acquisitions Reuters

# posted by Jeff : 11:57 AM

LSE woos Tokyo after US bid fails

BBC NEWS Business LSE woos Tokyo after US bid fails

# posted by Jeff : 11:54 AM

D.Boerse eyes stake in Bombay bourse -sources

FRANKFURT, Feb 9 (Reuters) - Deutsche Boerse wants to acquire a stake in India's Bombay Stock Exchange (BSE), sources familiar with the matter told Reuters on Friday.

# posted by P : 11:05 AM

Tokyo bourse to tie up with London exchange -Kyodo

TOKYO, Feb 11 (Reuters) - The Tokyo Stock Exchange has decided to tie up with the London Stock Exchange, and is set for an official alliance accord when TSE President Taizo Nishimura visits the U.K. in late February, Kyodo News reported on Sunday, citing exchange officials.

# posted by P : 11:02 AM

Saturday, February 10, 2007

Another LSE bidder sent packing

FT.com / Columnists / Charles Pretzlik - Another LSE bidder sent packing

# posted by Jeff : 4:59 PM

Deal volume rises, but number of deals takes a dive

There's no sign of a slowdown in M&A deal volume. Five weeks into 2007, volume is on track to smash the $4 trillion record established last year, according to market researcher Dealogic.

# posted by P : 4:45 PM

Private equity slowdown

I was surprised to see that the early read on this year's M&A trends. Yes, I know. We're just five weeks into the year

# posted by P : 4:44 PM

Nasdaq London Stock Exchange Bid Fails

(AP) LONDON The Nasdaq Stock Market Inc. failed for the second time in a year to win control of the London Stock Exchange PLC, revealing Saturday that its $5.3 billion hostile bid had been spurned by the British bourse's shareholders.

# posted by P : 4:41 PM

United States: SEC Adopts New E-Proxy Rules

On January 22, 2007, the U.S. Securities and Exchange Commission (the "SEC") promulgated new proxy rules (the "New Rules") permitting, but not requiring, new methods for issuers to furnish proxy materials to shareholders.1

# posted by P : 12:10 AM

NYSE, TASE meet with eye to more dual listings

NEW YORK (MarketWatch) -- With buyers pushing the Tel Aviv Stock Exchange to record levels, the bourse is in serious marketing mode and seeking to persuade companies listed outside Israel of the benefits of dual listing their shares on the TASE.

# posted by P : 12:06 AM

CEOs plan cross-border M&As

Some 45 percent of Asia-Pacific business leaders are planning a cross-border merger or acquisition in the next 12 months to help fuel growth, according to PricewaterhouseCoopers' (PwC) 10th Annual Global CEO Survey, which questioned 1,100 top executives from 50 countries.

# posted by P : 12:01 AM

Friday, February 09, 2007

Hong Kong Exchanges & Clearing COO and stock exchange CEO Conroy resigns

HONG KONG (XFN-ASIA) - Hong Kong Exchanges and Clearing Ltd (HKEx) said Patrick Kevin Conroy has decided to step down as its chief operating officer and Stock Exchange of Hong Kong chief executive officer, effective today.

# posted by P : 11:59 PM

Battle between London Stock Exchange and Nasdaq reaches climax

LONDON: The immediate fate of the London Stock Exchange PLC will be decided Saturday, the deadline for shareholders to accept the Nasdaq Stock Market Inc.'s hostile 2.7 billion pound (US$5.3 billion; €4.1 billion) takeover bid.

# posted by P : 11:58 PM

Kazakh property firm eyes up to $105 mln from IPO | IPO News | Reuters.co.uk

Kazakh property firm eyes up to $105 mln from IPO IPO News Reuters.co.uk

# posted by Jeff : 7:20 AM

Confounding the critics - Accountancy Age

# posted by Jeff : 4:33 AM

Barclays shares gain on talks of 970p per share bid from Citigroup – report

Barclays, the UK-listed bank, saw its shares gain on talks of a 970p per share offer from Citigroup, The Independent’s market report said. The report did not attribute the claim. Citigroup is a US-listed bank. Barclays shares closed 3p higher at 766p, valuing the bank at GBP 50.06bn (EUR 75.19bn).
Source
Independent
Value
GBP 50,069m (Barclays market capitalisation

# posted by Jeff : 3:17 AM

Polyus Will Likely Go to Prokhorov

# posted by Jeff : 2:16 AM

Thursday, February 08, 2007

FT.com / Companies / Financial services - Shake-up for top Citigroup managers

# posted by Jeff : 1:50 AM

Wednesday, February 07, 2007

Polymetal's IPO Shares Priced at About $7.75

# posted by Jeff : 1:23 AM

Tuesday, February 06, 2007

Open Investment to Sell Shares at a Discount

# posted by Jeff : 1:15 AM

MICEX Joins The World Federation Of Exchanges As An Affiliated Member

# posted by Jeff : 1:12 AM

Nasdaq bid is 'the biggest blunder of the year' | Business | Money | Telegraph

Nasdaq bid is 'the biggest blunder of the year' Business Money Telegraph

# posted by Jeff : 1:06 AM

Monday, February 05, 2007

BBC NEWS | England | London | Woman hurt in 'letter bomb' blast

BBC NEWS England London Woman hurt in 'letter bomb' blast

# posted by Jeff : 7:50 AM

Lloyds TSB to sell share registration business - report | Banking and Financial News | Reuters.com

Lloyds TSB to sell share registration business - report Banking and Financial News Reuters.com

# posted by Jeff : 2:36 AM

Seymour Pierce leads in offering worst AIM performers-Business-Industry Sectors-Banking & Finance-TimesOnline

# posted by Jeff : 2:20 AM

Saturday, February 03, 2007

ADR Trading is Safe for Now

Trading in American depository receipts (ADRs) is unlikely to dry up anytime soon, despite the perceived threat to the ADR marketplace presented by cross-border mergers of stock exchanges.

# posted by P : 9:54 AM

Euroclear embarks on senior management reshuffle

Euroclear senior management changes will be implemented gradually during the second quarter of 2007 as a result of the retirement in June 2007 of Martine Dinne, Chief Executive Officer of Euroclear Bank and a member of the Management Committee of Euroclear.

# posted by P : 9:47 AM

AIM Listings Continue to Rise, Says Walkers

Indian Companies Expected to Embrace AIM Listings in 2007

# posted by P : 9:19 AM

Dutch Finance Ministry okays Euronext-NYSE merger

AMSTERDAM, Feb 2 (Reuters) - The Dutch government said on Friday it had no objections to Euronext's planned $14 billion merger with The New York Stock Exchange, clearing one of the final steps to formation of the first transatlantic bourse.

# posted by P : 9:16 AM

Sino Life Insurance planning to list by 2012, president says

Sino Life, a Shanghai-based, Chinese insurance company, is planning to list, the Shanghai Securities News reported, citing Li Gang, president. The paper cited Li as saying the IPO would take place around 2012 and no details were disclosed. Sino Life Insurance is to have total assets worth over CNY 10bn (USD 1.28bn) by the end of Q1, the paper added, again citing Li.
Source
Shanghai Securities News

# posted by Jeff : 3:02 AM

Friday, February 02, 2007

Plus Markets could be Nasdaq bid target if LSE bid fails - market report

Plus Markets could be Nasdaq bid target if LSE bid fails - market report
Story Plus Markets, the UK-listed exchange group, was tipped as a bid target for Nasdaq, a Daily Mail market report said. The US-listed stock exchange group might make a bid for Plus Markets (formerly Ofex) if it fails to secure the London Stock Exchange, according to the unattributed speculation.
Plus Markets shares gained 1p to close at 17.25p, valuing the group at GBP 54m (EUR 81m).

Source Daily Mail

# posted by Jeff : 5:33 AM

State May Take Over Norilsk Nickel

# posted by Jeff : 12:01 AM

Thursday, February 01, 2007

Prokhorov, Potanin to Split Assets

# posted by Jeff : 12:21 AM

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