Global Capital Markets

RESO Sells a Stake to EBRD As It Prepares for Share Float

Western Stock Exchange Comes to Russia - Kommersant Moscow

BBC NEWS Business China trebles share tax amid boom

BBC NEWS Business RBS outlines offer for ABN Amro

FT.com / Home UK / UK - Standard Chartered set to buy Indian brokerage network

150 Russian Companies to Hold IPO Over Two Years — Stock Market Specialist - INVESTOR'S CORNER - MOSNEWS.COM

Kudrin Sees 70 Russian Firms Holding IPOs Within 2 Years

Dubai aims to thwart Nasdaq bid-Business-Industry Sectors-Banking & Finance-TimesOnline

BBC NEWS Business Eurotunnel 'saved' by investors

The boards of directors of The NASDAQ Stock Market, Inc. (“NASDAQ”) and OMX AB (publ) (“OMX”) jointly announce that they have entered into an agreement (the “Transaction Agreement”) to combine the two companies (the “Combination” or the “Transaction”), creating the world’s premier exchange and technology company. The Combination will create the largest global network of exchanges and exchange customers linked by technology. The Combination will provide significant benefits for customers, shareholders and other stakeholders in both companies. The new group, to be called The NASDAQ OMX Group (the “Combined Group”), brings together two companies with a common culture and vision of innovation, competitiveness and pioneering technological expertise. NASDAQ OMX Group combines two highly complementary businesses, uniting NASDAQ’s leading global brand, highly efficient electronic trading platform and track record of customer focused innovation with OMX’s global technology services platform and customer base, efficient Nordic Exchange, derivatives capabilities and track record of successful cross-border exchange integrations. The Combination will be effected through a cash and stock tender offer (the “Offer”) by NASDAQ for all outstanding shares in OMX. The consideration offered is equivalent to 0.502 new NASDAQ shares plus SEK 94.3 in cash for each OMX share. Based on NASDAQ’s closing price on 23 May, 2007, the Offer values OMX at SEK 208.1 per share , equivalent to SEK 25.1 billion (USD 3.7 billion) and represents a premium of 19 percent to the closing price of SEK 174.5 per OMX share on 23 May, 2007, the last full trading day prior to the announcement of the Offer and a premium of 25 percent to the volume weighted average price of SEK165.9 per OMX share over the 20 trading days up to and including 23 May, 2007. The Combined Group will have 2,349 employees in 22 countries with pro forma revenues for the financial year 2006 of more than $1.2 billion (SEK8.3 billion). The relative values of the companies under the terms of the Offer and based on NASDAQ’s closing share price as of 23 May, 2007 are 58 percent NASDAQ and 42 percent OMX. The pro forma market capitalization of The NASDAQ OMX Group will be approximately $7.1 billion (SEK48.6 billion) , of which NASDAQ shareholders will own approximately 72 percent and OMX shareholders will hold approximately 28 percent as a result of the cash component of the Offer. The Combined Group will be governed by representatives from both NASDAQ and OMX under the leadership of Robert Greifeld, who will serve as Chief Executive Officer and Magnus Böcker, who will serve as President. The board of directors of the Combined Group will consist of 15 members, including nine representatives from NASDAQ, five representatives from OMX and the Chief Executive Officer of the Combined Group. The NASDAQ OMX share will be listed on NASDAQ and on OMX Nordic Exchange. The Combination is unanimously recommended by the boards of directors of each of OMX and NASDAQ. Investor AB, Nordea Bank AB and Magnus Böcker, together representing approximately 16.6 percent of OMX’s current issued ordinary share capital, have entered into irrevocable undertakings to accept the Offer and, if a mix and match facility is included in the Offer, depending on the structure and the terms of the facility, they will elect to receive all shares, subject to proration. Olof Stenhammar & Company, representing approximately 1.6 percent of OMX’s current issued ordinary share capital, has expressed its support for the Combination and its intention to become a long term shareholder in the Combined Group. In addition, Hellman & Friedman, Silver Lake Partners, and Robert Greifeld have each agreed to vote their shares in favor of certain matters related to the Offer at the related NASDAQ shareholders’ meeting, subject to the terms of NASDAQ’s certificate of incorporation. The Combination is expected to create substantial value for shareholders and to be accretive to earnings per share in 2009.
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Stock Exchange Announcement(s)

SEC Announces Agendas And Panelists For Final Roundtables On The Proxy Process

Crestco Changes Name To ‘Euroclear UK & Ireland’

Aim market: 'Nomads' quit after Exchange tightens rules on advisers Market Report Markets Business Money Telegraph

BBC NEWS Business BA linked to Iberia takeover bid

FT.com / Companies / Asia-Pacific - Surge in emerging-market IPOs

Russia Blog: Russian IPOs – Review of the 20th Week of 2007 IPOs More Popular in U.S. than U.K. in 1st Quarter

Cross Border - Breaking news - AGMs open up to emailed questions

Cross Border - Breaking news - AGMs to continue in Australia

BBC NEWS Business Italian deal creates bank giant

FT.com / Home UK / UK - Naspers pulls out of Nasdaq to list on LSE

WPP wins $650m bid battle for 24/7 as it builds online presence Markets Business Money Telegraph

AFP.com Agence France-Presse, a global news agency

Furse: Stamp duty won't last Markets Business Money Telegraph

RusAl Declares Plans for IPO This Year

Dubai City Guide: News - Boulder Steel Of Australia Lists Shares On Dubai International Financial Exchange (DIFX) To Reach Regional Investors

Xstrata trumps Russian rival with new bid for LionOre Markets Business Money Telegraph

Vyugin Resigns With a Promise

TORONTO, May 8 /CNW/ - The number of Canadian Initial Public Offerings
(IPOs) slowed on AIM, a market operated by the London Stock Exchange, in the
first quarter of 2007, according to the Canadian AIM IPO survey released today
from PricewaterhouseCoopers (PwC).

'Dark pools' and other new-age exchanges rewrite the rules, under the radar

LONDON (Thomson Financial) - Russia's biggest domestic drugmaker Pharmstandard begins conditional trading in London this morning, following a share offering worth 880 mln usd.

Magnitogorsk Iron and Steel Works (MMK), Russia's third-largest steelmaker, yesterday raised about $1bn in London and Moscow after pricing its global offering at the bottom end of the initial guidance.

The number of Chinese companies listing in New York and London is set for a big jump this year..

London has extended its lead over New York in the race to attract multibillion-dollar stock market flotations as the cost of fending off US securities lawsuits soars.

Companies from Brazil, Russia, India and China were the most active issuers last year

BEIJING (XFN-ASIA) - HSBC Bank (China) Co Ltd president Richard Yorke said the bank's London and Hong Kong-listed parent HSBC Holdings will seek a mainland listing when the regulatory framework for foreign listings in China is in place, the official Shanghai Securities News reported.

HONG KONG - With the Shanghai Composite Index hitting record highs every day, the Chinese government may be planning to open up a pressure valve, allowing money to go to Hong Kong.

RIA Novosti - Russia - Russian PM appoints new chief of financial markets watchdog

FT.com / World - Chinese bourses eclipse all of Asia

Samsonite coffers to swell £250m from float Business Money Telegraph

BBC NEWS Business Rio Tinto shares jump to record

BBC NEWS Business Thomson tables Reuters takeover

The London Stock Exchange (LSE) will seek to connect with Vietnam’s stock market to create opportunities for more Vietnamese companies to list on LSE and get equity finance, said the Lord Mayor of the City of London.

Interpipe wheel and pipe company stockholders approved a decision to start a preliminary stage of the company’s IPO at the London stock exchange

A global mergers and acquisitions boom is under way that is expected to smash previous records, with deals so far this year valued at nearly £1 trillion, almost double the figure recorded during the same period last year.

Latest News News Hemscott

Mid-cap cos AIM at LSE for quicker gains

HSBC Holdings is interested in a mainland listing in the medium term, Michael Smith, president and chief executive of Hongkong and Shanghai Banking Corp, HSBC's Asia-Pacific unit, said. Peter Wong Tung-shun, an executive director of HSBC, expects a listing on the Shanghai stock exchange in 5-10 years. Commenting on a newspaper report that HSBC is in talks to buy a majority stake in Taiwan-based En Tie Commercial Bank, Smith said now is not the right time to invest in Taiwan as there are too many uncertainties arising from the island's potential bankruptcy legislation. Smith also said recent purchases of HSBC shares by investors from the Middle East are driven by growing trade flows between the Middle East and Asia as well as liquidity generated by high oil prices. Dubai International Capital (DIC), a private equity firm owned by United Arab Emirates' Sheikh Mohammed bin Rashid al-Maktoum, said earlier this week its units have made substantial investments in HSBC. Separately, Raymond Or, vice chairman of Hang Seng Bank, a unit of HSBC, said the bank may acquire a Chinese or Hong Kong insurance company to meet the assets requirement for setting up a unit in the mainland this year.

London Stock Exchange: New Research Shows That Ordinary Savers And Pensioners Bear Brunt Of £3bn Share Tax - Research Finds That Abolition Of Stamp Duty Would Benefit Economy

For London’s brokers and bankers, it now seems a given that they inhabit the financial capital of the world. New York is regarded almost with condescension. It is still big and powerful, but parochial. It is no longer where the action is.

Investors following AIM believe that the quality of companies coming to the market has been compromised by the influx of overseas listings.

Bunzl PLC has said it intends to delist its American Depositary Shares from the New York Stock Exchange.

The Shanghai stock exchange is courting HSBC and other high-profile foreign companies to list their shares in mainland China, as part of its strategy to revive the recently moribund bourse.

...the Shanghai Stock Exchange (SSE) issued today the much-anticipated "Market Quality Report (2007)", which probes into last year's market quality on the Shanghai securities market.

Quality not quantity: one way for the junior market to grow up Guardian Unlimited Business