Small cap Archive

Feb 14, 2020
The art of turning a profit: Investor relations at a listed art dealer
Over the last 30 years, financial regulators have slowly but steadily clamped down on the ability of insiders – those with material information about a company – to profit at the expense of the rest of us. But there is another market where practices such as insider trading and front-running continue to run free: the art world. ‘It makes it a lot easier to be a winner when you can do all this legally without violating any law,’ says Ruediger Weng, chairman an...
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Feb 12, 2020
Fears for UK small and mid-cap liquidity
A growing number of issuers and investors in the UK have reported a decline in the amount of research produced on small and mid-caps as Mifid II has gradually fed into the financial markets since January 2018. More than 80 percent of investors saw a decrease in the availability of research for small and mid-cap companies in 2019, blaming the European regulatory regime for the reduction in coverage, according to a study published by broker Peel Hunt and the Quoted Co...
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Feb 12, 2020
AMF pushes for new charter on issuer-sponsored research
The French financial regulator has said it will support the use of issuer-sponsored research in Europe as part of its response to changes to the research industry brought about by Mifid II.  Under a new action plan, the AMF says it will encourage all market participants to work on a charter – based on existing regulations – that supports good practice for research paid for by companies. In particular, the regulator wants research to make clear when there are fi...
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Jan 30, 2020
How Coeur Mining won best proxy statement (small cap)
As a small-cap company, Coeur Mining doesn’t have the same resources that many past winners and nominees of the best proxy statement award have had. But this year, for the first time, the Corporate Governance Awards recognize the best proxy statement among small caps, rather than grouping their entries with mid-cap ones. While the legal team at Coeur Mining may have a small budget and fewer resources than some companies, it has looked at the trends adopted by the ...
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Jan 24, 2020
NIRI proposes guidance on company-sponsored research
Attitudes to company-sponsored research are softening, according to experts, as NIRI releases provisional guidance to its members about what they should consider when commissioning third-party research. NIRI unveiled its proposed guidelines to members last week, and is accepting comments on the guidelines until mid-February. Speaking to IR Magazine, NIRI president and CEO Gary LaBranche explains that the institute’s leadership has considered offering guid...
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Jan 07, 2020
How Asia Aviation won the best IR website category at the IR Magazine Awards
Looking for inspiration for your IR website? A good place to start is Asia Aviation, which won the best IR website category at the IR Magazine Awards – South East Asia 2019.  The award was decided by a panel of judges, featuring experts from the buy side and sell side. Commenting on Asia Aviation’s website, one judge said: ‘It features good use of animation and charts to simplify and better communicate the numbers to investors. It is clean, easy ...
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Dec 20, 2019
End-to-end investor relations: The IR journey of rising star Giovanna Vera
I joined Century Pacific Food in 2014, while it was in the middle of executing an IPO. At that time, I had minimal work experience having just graduated from university two years prior. Out of necessity, however, I was quickly thrust into a leadership role – overseeing the deal process that was previously being handled by the CEO and CFO. Several sleepless nights later, Century Pacific successfully listed on the Philippine Stock Exchange, putting the onus o...
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Dec 13, 2019
The week in investor relations: Strategists back small caps, London reviews trading hours, and a ‘perfect storm’ for research boutiques
- US small caps are expected to outperform larger companies during 2020, according to strategists surveyed by Bloomberg. Four out of five strategists polled by the news service say they expect above-average performance over the next 12 months. Steven Desanctis at Jefferies told Bloomberg his firm expects the Russell 2000 to rise 7 percent next yea...
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Dec 12, 2019
Small caps lag in adding women to boards
US small-cap companies are lagging their larger peers in adding female directors to boards, according to research by the National Association of Corporate Directors (NACD).  Between 2017 and 2019, companies with a market cap between $300 mn and $2 bn saw the percentage of women on their board rise from 13 percent to 17 percent, finds the research, which was carried out in partnership with Main Data Group. Over the same time period, the Russell 3000 index –...
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Dec 02, 2019
IR Magazine Winter 2019
A light in the dark I recently spoke to Jim Toes, CEO of the Security Traders Association, about how the unprecedented number of issuer letters sent to the SEC about the access-fee pilot last year could be a sign that IR teams are getting more up to speed on market structure issues. He cited the increase in trading activity on dark pools as another issue IR teams need to be aware of. ‘Understanding where your stock is traded, why and b...
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