Sell side Archive

Apr 11, 2019
Slowest quarter for London IPOs in eight years
In terms of IPOs, it has been the slowest quarter in eight years on London’s capital markets in the three months to March 31, according to accountancy firm EY. Only four London Stock Exchange main market IPOs took place between January and March, raising a combined £460 mn ($601 mn), along with just one admission to Aim, raising £21 mn, EY highlights in its latest IPO Eye ...
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Mar 22, 2019
Global IPO activity down in Q1 2019, says EY
Ongoing geopolitical tensions, trade issues between the US, China and Europe, and the uncertainty created by Brexit have slowed down IPO activity globally in the first three months of 2019, according to EY. The professional services firm’s ‘Global IPO trends: Q1 2019’ report highlights that the positive performance of main stock indices and a decrease in volatility in many markets did little to halt the slump suffered by IPOs. Instead, the number of IPO...
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Mar 01, 2019
Investors looking to increase hedge fund exposure
The vast majority (79 percent) of investors plan to maintain or increase their exposure to hedge funds in the next 12 months, according to the 2019 Preqin Global Hedge Funds Report. Despite a turbulent 2018, which culminated in negative returns at the end of the year, assets under management in the hedge fund industry are forecast to increase over the coming year and beyond as investors continue to look to the asset class for downside protection. The report n...
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Feb 28, 2019
GCC equity capital markets end 2018 on strong note
Last year ended on a strong note for Gulf Cooperation Council (GCC) equity capital markets, with the fourth quarter being the best of the year as a total of five IPOs generated $1.03 bn, or 42 percent of the GCC’s annual IPO proceeds, according to a PwC report. Although a positive end to the year, the final quarter of 2018 was still some way behind the eight IPOs and $2.46 bn posted in the same quarter of 2017. Steve Drake, PwC Middle East capital markets l...
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Feb 21, 2019
European asset management research budgets fall one year on from Mifid II
Research budgets at European asset management firms have fallen since the introduction of Mifid II and independent research providers have not benefitted from the regulation, according to a report by CFA Institute, the global association of investment professionals.  In the year following the introduction of Mifid II, the scaling back of research budgets has seen the largest firms make the bi...
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Feb 19, 2019
Nasdaq moves to clarify direct listings process
This article has been updated with corrections Nasdaq has filed a proposal with the SEC clarifying it's process for direct listings without an IPO.  The move comes amid rumors that collaboration platform Slack is planning to go public via a direct listing. Last year music-streaming giant Spotify took advantage of newly changed NYSE rules to forgo u...
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Feb 05, 2019
Malaysian exchange expects better outlook on IPOs in 2019
Bursa Malaysia’s outgoing CEO is expecting the IPO market to improve in 2019 compared with the difficulties the market faced at the end of last year. ‘The IPO pipeline for this year, both in terms of numbers and size, will be much better than last year, and this includes main market listings,’ says Datuk Seri Tajuddin Atan in a statement unveiling the Kuala Lumpur stock market’s financial results for 2018. ‘The power of the market is mostly due to t...
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Feb 01, 2019
Consensus and Mifid II: One year on
Last week IR Magazine looked at how Mifid II – the mammoth European regulation that came into force at the start of 2018 – had impacted research.  In brief, European institutional investors cut budgets for external European equity research by almost a fifth in 2018, according to Greenwich Associates, which predicts a further 5 percent to 6 percent cut in 2...
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Jan 30, 2019
UAE amends law to boost capital markets
The UAE has adopted an amendment to the country’s Commercial Agencies Law that will allow trading agencies to convert into public shareholding companies, potentially creating greater opportunities for the region’s capital markets. Trading agencies are created when a UAE entity, typically a family-owned business, enters into an agreement with international agents or distributors. The law change will allow trading agencies to raise funds from local stock markets a...
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