IPO's

Facebook Inc’s float comes under more scrutiny

24 May 2012 |

PRINT: 24 May 2012 | PAGE 21 | Facebook Inc’s float comes under more scrutiny

Facebook Inc’s initial public offering is getting less friendly with each passing day. Investors and regulators raised new concerns about the $US16 billion ($16.4 billion) IPO as Facebook shares fell a second straight day, extending losses to 18 per cent below the $US38 offer price.

Macquarie, Merrill lead $1bn Mongolia IPO

23 May 2012 | Angela Macdonald-Smith

Macquarie Group and Merrill Lynch have reportedly snared lead roles in the planned float of Mongolia’s Altain Khuder, one of the country’s largest producers of iron ore.

CVC Capital said to reduce Formula One stake

23 May 2012 |

The private equity firm CVC Capital, which owns a controlling stake in the company Formula One, is not taking any chances before the racing company’s proposed $US3 billion initial public offering.

Facebook wash out puts Morgan Stanley in spotlight

23 May 2012 | Ben Woodhead

Investors who stumped up $US38 a share to take part in Facebook’s landmark IPO have found themselves deeper under water as underwriter Morgan Stanley faces questions over its handling of the float.

Hong Kong regulator defends tough IPO proposal

PRINT: Capital | 23 May 2012

Hong Kong’s top securities regulator has defended new proposals that could subject bankers to civil or criminal prosecution over misleading statements in documents of companies they bring public.

Facebook shares slide as prospects questioned

23 May 2012 |

Facebook’s shares fell again on Tuesday, leaving them down more than a quarter from Friday’s highs as questions mounted over the company’s financial prospects.

TRUenergy trims IPO list to five

23 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 23 May 2012 | PAGE 18 | TRUenergy trims IPO list to five

Five banks remain in the race for TRUenergy’s planned initial public offering – Bank of America Merrill Lynch, Deutsche Bank, JPMorgan, Morgan Stanley and UBS.

Formula One chases $US3bn Singapore IPO

PRINT: Capital | 22 May 2012

The Formula One Group is aiming to raise as much as $US3 billion through a Singapore stock market listing, and the company is set to present the deal today to fund managers and other big institutional investors.

Investors un-friend Facebook as reality sets in

22 May 2012 | Chuck Mikolajczak

PRINT: 22 May 2012 | PAGE 1 | WRAPUP 4-Facebook shares sink 11 pct as reality overtakes hype

Facebook shares sank 11 per cent in the first day of trading without the full support of the company's underwriters, leaving some investors to switch back to more established stocks such as Apple.

World briefs

22 May 2012 |

PRINT: 22 May 2012 | PAGE 19 |

British bank Barclays plans to sell its entire 19.6 per cent stake in BlackRock for $US6.1 billion. BlackRock will buy back as much as $US1 billion of the shares.

Zuckerberg weds on day after IPO

21 May 2012 |

For Facebook founder and CEO Mark Zuckerberg, it was quite a week – from birthday, to IPO, to ‘I do’.

Facebook must prove itself after flat debut

PRINT: Capital | 21 May 2012

Facebook now has some proving to do. On the first day of trading as a public company Facebook shares did not deliver the pop that many investors have come to expect from Internet companies.

GraysOnline calls in UBS for review

21 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 21 May 2012 | PAGE 18 | GraysOnline calls in UBS for review

Online auction house and retailer GraysOnline is considering a partnership with a traditional retailer, including the possible sale of an equity stake, as part of a strategic review aimed at making the most of its online capabilities.

Ventus struggle may be portent for bigger IPOs ahead

21 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 21 May 2012 | PAGE 18 | Ventus struggle may be portent for bigger IPOs ahead

ASX hopeful Ventus Medical has been forced to extend its initial public offer after failing to raise $40 million by last week’s closing date.

From its first ‘sell’ rating to short bets

19 May 2012 |

PRINT: 19 May 2012 | PAGE 1 |

The debut of Facebook shares on the Nasdaq brought an intense focus to the company, including its first brokerage sell rating and the prospect of some investors shorting the social network giant.

Facebook IPO marred by trading glitches

19 May 2012 |

PRINT: 19 May 2012 | PAGE 1 | UPDATE 3-Facebook fizzles in debut, shares skirt IPO price

Updated | For a company that is dramatically upending business strategies and social relationships around the world, shares in Facebook made a surprisingly modest debut on Friday.

Facebook faces its moment of truth

19 May 2012 | Ruth Liew

PRINT: 19 May 2012 | PAGE 1 | Facebook faces its moment of truth

Facebook’s $100 billion initial public offering has its critics but former senior Microsoft executive Daniel Petre believes those who cashed in early would probably see their investments pay off.

Long odds on a big Facebook payday

18 May 2012 | NATHANIEL POPPER

Facebook shares will be tempting to buy when they start trading. The company is well known, has hefty profit margins and may become the world’s primary gateway to the Internet.

Goldman to cash in $1bn of Facebook shares

18 May 2012 | Christine Harper New York

PRINT: 18 May 2012 | PAGE 3 | Goldman to cash in $1bn of Facebook shares

Goldman Sachs Group and funds managed by the firm will sell about $1 billion of stock in Facebook’s initial public offering, cashing out almost half their stake after the social network doubled in value.

Facing up to the facts

18 May 2012 | John Sinclair

PRINT: 18 May 2012 | PAGE 2 | Facing up to the facts

There’s a reason for Facebook’s elevated $100bn valuation before its float.

Former Facebook man has no regrets

18 May 2012 | Brian Corrigan

PRINT: 18 May 2012 | PAGE 1 | Ex-Facebook man: no regrets

Brisbane family man Chris Adams is about to be even better friends with 30 of his mates from Facebook as they prepare to become multimillionaires, even billionaires.

Brokers stop taking Facebook IPO orders

17 May 2012 |

PRINT: 17 May 2012 | PAGE 1 |

Investors who want Facebook shares when the No. 1 online social network goes public later this week may have lost the opportunity.

Facebook's IPO: who gets rich?

17 May 2012 |

The rich are going to get richer when Silicon Valley's biggest IPO starts trading on Friday.

Facebook insiders, early investors selling more shares

17 May 2012 |

Insiders and early Facebook investors will be unloading more of their shares in the initial public offering, the company said on Wednesday, as they take advantage of investor demand.

‘Bigger’ Facebook IPO to raise $US15bn

16 May 2012 |

PRINT: 16 May 2012 | PAGE 1 |

Interest in the social networking stock has not been dimmed by debate over its long-term ability to make money.

Facebook ads not worth it: GM

16 May 2012 | Ben Woodhead

Automotive giant General Motors is threatening to rain on Facebook’s IPO party with a decision to withdraw advertising from the wildly popular social networking site over concerns the ads have limited impact.

Facebook IPO could now raise $US12.8bn

16 May 2012 |

Already expected to be the largest-ever initial public offering for an internet company, Facebook is making its IPO even bigger.

Facebook lifts IPO range to $US34-38 a share

16 May 2012 |

Facebook has increased the price range on its IPO an average of 14 per cent to raise more than $US12 billion, giving the world’s No. 1 social network a valuation potentially exceeding $US100 billion.

Facebook raises IPO price range

15 May 2012 | Brian Corrigan

Facebook has raised the price range for its initial public offering ahead of what has arguably become the most eagerly anticipated technology listing in history.

OMG, Facebook raises price range for IPO

15 May 2012 | Peter Wells

Facebook has raised the price range for its much-anticipated initial public offering to $US34 to $US38 a share, the Wall Street Journal is reporting as breaking news

Facebook to close books early on IPO

15 May 2012 |

Updated | Facebook will close the books on its mammoth $US10.6 billion initial public offering Tuesday, two days ahead of schedule, according to a source familiar with the deal.

Wozniak to Zuckerberg - watch your back

15 May 2012 | Paul Smith

PRINT: 15 May 2012 | PAGE 1 | No friends in business: Wozniak

Apple co-founder Steve Wozniak has told Facebook’s Mark Zuckerberg to watch out for possible backlash from shareholders after he takes his social media company public.

Facebook premium slips to 18pc

15 May 2012 | Ruth Liew

PRINT: 15 May 2012 | PAGE 1 | Facebook premium slips to 18pc

Mum and dad investors are speculating Facebook’s market cap will reach $112.5 billion at the end of its first day of trading, as the countdown begins to one of the most highly anticipated initial public listings in years.

Ascendas set to list hotel trust

14 May 2012 | Ben Wilmot

PRINT: 14 May 2012 | PAGE 50 | Ascendas

Singaporean investment giant Ascendas is to launch the float of a new hotel trust on the Singapore Stock Exchange that includes Australian properties.

Cometh the hour, cometh the nerd

14 May 2012 | Evelyn Rusli

PRINT: 14 May 2012 | PAGE 2 | Cometh the hour, cometh the nerd

Mark Zuckerberg may be a genius but is he grown up enough to run a listed leviathan? On the eve of Facebook’s IPO, those who know him best say he’s ready.

Och-Ziff to take stake in Lamboo

14 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 14 May 2012 | PAGE 18 | Och-Ziff to take stake in Lamboo

It’s a tiddler but emerging graphite explorer Lamboo Resources is expected to have Och-Ziff Capital Management Group take up a significant amount of Monday’s raising.

Mobile application is top priority: Zuckerberg

12 May 2012 |

Updated | Facebook CEO Mark Zuckerberg on Friday laid out his 2012 goals to investors in Silicon Valley, saying his first priority was improving the social network’s mobile application.

Is Facebook’s IPO a fizzer?

11 May 2012 | Ben Woodhead

PRINT: 11 May 2012 | PAGE 1 |

Facebook’s $US10.6bn float is the talk of Wall Street - but not all of that talk is going the way the social media giant and its hoodie-wearing chief would want.

Listing could trigger IPO surge: Nasdaq

11 May 2012 |

Nasdaq OMX Group is looking forward to a spike in the number of companies going public in the near term as they look to take advantage of the market buzz created by Facebook’s listing next week.

Kumai takes high-risk road to Mongolia

10 May 2012 | Tony Featherstone

PRINT: 11 May 2012 | PAGE 5 | Kumai takes high-risk road to Mongolia

Kumai Energy is the latest float raising funds to develop Mongolian projects and lift the presence of Australian junior explorers in the emerging mining hot spot.

How Facebook’s giant IPO was won

10 May 2012 | Evelyn Rusli

PRINT: 10 May 2012 | PAGE 35 | How Facebook’s giant IPO was won

Silicon Valley doesn’t have much love for Wall Street, perceiving buttoned-up financiers as fee-obsessed number crunchers who don’t really understand technology.

CLP yet to commit to TRU IPO

09 May 2012 | Angela Macdonald-Smith

PRINT: 09 May 2012 | PAGE 3 | CLP yet to commit to TRU IPO

CLP Group chief executive Andrew Brandler has insisted that no decision has been made on whether to proceed with an IPO of TRUenergy in Australia even as preparations for a float pick up pace in the local market.

Facebook kicks off investor roadshow

08 May 2012 | Nadia Damouni

Facebook CEO Mark Zuckerberg fielded questions about the No. 1 social network's slowing revenue growth and its $US1 billion purchase of Instagram as he began spruiking the company’s $US10 billion IPO.

Genworth gets set for IPO relaunch

08 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 08 May 2012 | PAGE 16 | Genworth gets set for IPO relaunch

Genworth Financial has told staff internally that it will relaunch its initial public offering as early as possible next year following the embarrassing delay of its mooted float this June quarter.

Facebook starts IPO roadshow

07 May 2012 | Evelyn Rusli

PRINT: 07 May 2012 | PAGE 24 | Facebook starts IPO roadshow

Starting today, Facebook executives will travel around the US to field questions from prospective investors and  convince them that the social network is worth $US86 billion and perhaps a lot more.

JPMorgan flies the Facebook flag

05 May 2012 |

JPMorgan Chase, one of the underwriters for the social network’s initial public offering, rolled out the welcome mat for Facebook executives on Friday - or rather, the welcome flag.

Facebook rated ‘outperform’ by Wedbush

05 May 2012 |

As Facebook prepares to sell shares, Wedbush Securities set a $US44-per-share price target that implies a potential capital gain of about 40 per cent for IPO investors.

Australian funds urged to like Facebook

05 May 2012 | Bianca Hartge-Hazelman

PRINT: 05 May 2012 | PAGE 2 | Facebook float whets the appetite

Australian fund managers are being asked to “like” Facebook in what’s shaping up to be the most anticipated initial public offering in recent memory.

IPO heaven too far for most

05 May 2012 | Ed Pilkington

PRINT: 05 May 2012 | PAGE 1 | IPO heaven too far for most

Facebook will price itself at between $US28 and $US35 a share, paving the way for a giddying valuation of almost $US100 billion when launches its IPO.

Facebook sets price for $US10.6bn float

04 May 2012 |

PRINT: 04 May 2012 | PAGE 1 |

Facebook has set the estimated price for its IPO at $US28 to $US35 a share, putting the social networking company on track to raise $US10.6 billion in a debut that could value the company at $US86 billion.

Genworth stays cool on Australian listing

04 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 04 May 2012 | PAGE 18 | Genworth stays cool on local listing

Three stars must align before Genworth Financial will list its Australian operation, but one suspects the company’s bottom line is the biggest factor.

Facebook almost set for IPO roadshow

03 May 2012 |

Despite whispers of delays, Facebook is wrapping up its prospectus with regulators and may begin its roadshow as soon as early next week, insiders say.

TRUenergy float no joke for HR departments

03 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 03 May 2012 | PAGE 26 | TRUenergy float no HR joke

There’s a running joke doing the rounds that it’s not just investment bankers taking an interest in TRUenegy mandates.

Carlyle Group said to price IPO at $22/share

03 May 2012 |

Carlyle Group plans to price its IPO between $US22 and $US23 per unit, lower than its initial $US23 to $US25 range, an insider said.

Coalminers fear a black budget

03 May 2012 | Tony Boyd

PRINT: 03 May 2012 | PAGE 72 | Coalminers fear a black budget

Coalminers have a sense of foreboding about next week’s federal budget amid expectations they‘ll be soft targets to help turn a $40 billion deficit into a small surplus.

Facebook on track for IPO roadshow

02 May 2012 | NYTimes Dealbook

PRINT: 03 May 2012 | PAGE 1 |

Despite whispers of delays, insiders say Facebook is still on track for a mid-May IPO according to insiders and may begin its roadshow as soon as early next week.

Bradley on board at TRUenergy

02 May 2012 | Kevin Chinnery

PRINT: 02 May 2012 | PAGE 2 | Bradley on board at TRUenergy

Power generator and retailer TRUenergy now looks more likely to start life as a listed company with an independent Australian director at the helm as chairman.

Kum pulls hotel float

01 May 2012 |

PRINT: 01 May 2012 | PAGE 3 | Kum pulls hotel float

Singapore entrepreneur Michael Kum has pulled back from plans to float the M&L Hospitality Trust on the Singapore Stock Exchange.

World briefs

01 May 2012 |

PRINT: 01 May 2012 | PAGE 2 | world briefs

CIA drone missiles have hit militant targets in Pakistan for the first time in a month, as the United States ignored Islamabad’s insistence that such attacks end as a condition for normalised relations.

Arctic graphite find has golden future

28 April 2012 | Luke Forrestal

PRINT: 27 April 2012 | PAGE 22 | Arctic graphite find has golden future

Talga Gold managing director Mark Thompson heads off on an east coast roadshow next week with a compelling story to tell, but it’s nothing along the lines of a multi-million ounce gold discovery.

Directors in coalfire

28 April 2012 | Katie Walsh

PRINT: 28 April 2012 | PAGE 3 | Directors in coalfire

The directors of a company that holds 21 per cent of unlisted coal developer Coal of Queensland have sworn they acted in the interests of owners, despite holding a view that could see shareholders miss out on a $150 million boost to their stake.

Focus shifts to emerging trade partners

27 April 2012 | Lucy Gao

Reacting to slower world economic growth and rising domestic costs, China has set itself a lower goal for increasing its trade balance and says it expects a larger share of its trade to occur with emerging economies.

Securities unit will recover: Moore

PRINT: Capital | 27 April 2012

Updated | Macquarie’s Nicholas Moore has shied away from predicting improved financial market activity over the next 12 months, but reckons the beleaguered securities unit may swing back into the black.

TRUenergy IPO’s moment of truth

27 April 2012 | Sarah Thompson

PRINT: 27 April 2012 | PAGE 1 | TRUenergy IPO’s moment of truth

A shortlist of advisers for TRUenergy’s initial public offering will be drawn up in the next few days, with capital markets bankers eager to find out who is still in the running for the three or four joint lead manager roles up for grabs.

ASX critics miss the mark

27 April 2012 | Tony Boyd

PRINT: 27 April 2012 | PAGE 52 | ASX critics miss the mark

Elmer Funke Kupper’s latest effort to ensure the ASE can maintain its competitive position is not a wholesale attack on shareholders’ rights.

Ready-to-go goldminer is a rare find

26 April 2012 | Tony Featherstone

PRINT: 27 April 2012 | PAGE 5 | Ready-to-go goldminer is a rare find

Gold floats have been notably absent so far this year, with the under-performance of gold stocks and a weak float market meaning fewer offers.

Who’s next on the mutual consolidation wave

PRINT: Capital | 24 April 2012

A capital review at IMB has raised the possibility of yet more consolidation in the mutual financial services sector, as a fragmented industry looks at ways to sustain credit growth. But not all bankers are convinced the deals will continue.

Asciano backs out of data room for BIS

24 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 24 April 2012 | PAGE 5 | Asciano backs out of data room for BIS Industries

Asciano is believed to have walked away from the BIS Industries data room after deciding the mining services operation was not a good fit.

Biota’s US deal not without side effects

PRINT: Capital | 23 April 2012

By merging with US-based Nabi, Biota gains backdoor access to the Nasdaq and US investors. But despite the longer-term strategic benefits, Biota shares plunged on Monday following the news.

Kagara explores cash options

23 April 2012 | Luke Forrestal

PRINT: 23 April 2012 | PAGE 18 | Kagara explores cash options

Updated | Struggling base metals miner Kagara entered a trading halt on Monday and is likely to look at liquidating its 62.1 per cent holding in gold junior Mungana Goldmines as it seeks much needed capital.

Development causes a sinking feeling

20 April 2012 | Lucy Gao

A survey has revealed that a diminishing water table, combined with a growing number of skyscrapers, is causing large areas of China to sink.

People’s Daily Online makes headlines by tripling IPO

20 April 2012 | Zijing Wu

PRINT: 20 April 2012 | PAGE 2 | People’s Daily triples IPO for web operations

The online business of the Chinese Communist Party’s official newspaper has tripled the size of its proposed initial public offering as it seeks to sell shares at a valuation that is 18 per cent more than its peers.

Facebook may be worth $US104bn

20 April 2012 | Evelyn Rusli

PRINT: 20 April 2012 | PAGE 25 | Facebook’s real value may be $US104bn

As part of Facebook’s negotiations with Instagram, the companies discussed a potential value of about $US104 billion for Facebook, according to sources.

Something rotten in state of Qld

19 April 2012 | Tony Boyd

PRINT: 19 April 2012 | PAGE 1 | Something rotten in state of Qld

Any doubts about the economic basket case that is south-east Queensland were wiped out yesterday by Genworth and Bank of Queensland.

IPO flow doubts as Genworth pulls out

19 April 2012 | Jane Searle

PRINT: 19 April 2012 | PAGE 28 | IPO flow doubts as Genworth pulls out

Australia’s largest mortgage insurer has delayed the planned float of up to 40 per cent of its business, blaming worse than expected losses from the local housing market.

Genworth IPO on ice: market jitters resurface

PRINT: Capital | 18 April 2012

The shelving of Genworth’s IPO has ECM bankers hoping the pipeline for floats doesn’t unravel in the same way it did last year.

Listing delayed as Genworth’s profit falls

18 April 2012 | Sarah Thompson and Anthony Macdonald

Genworth Australia’s initial public offering has been pulled after the business reported worse than expected performance for the first quarter of 2012.

Carlyle execs make their pitch for IPO

17 April 2012 |

Why invest in the Carlyle Groups stock as the private equity giants initial public offering nears? Let the firm’s top executives explain.

Carlyle sets price range at $US23-$US25/share

17 April 2012 |

The Carlyle Group said it expected to price its initial public offering at $US23 to $US25 a share, valuing the private equity firm at up to $US7.6 billion.

BTG Pactual boss fined €350,000 for insider trading

17 April 2012 |

The Italy market regulator fines André Esteves, the billionaire boss of Brazil's BTG Pactual, €350,000 for insider trading, just 10 days before his investment bank's planned IPO.

KKR preps market for BIS

17 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 17 April 2012 | PAGE 4 | KKR preps market for BIS

Private equity firm Kohlberg Kravis Roberts & Co looks like it is preparing the market for its mining services business, Bis Industries.

Listing decision looms for Genworth

17 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 17 April 2012 | PAGE 20 | Listing decision looms for Genworth

There has been no official decision to delay Genworth Australia’s $800 million initial public offering but the process needs to get cracking if it is to list inside the June 30 timetable.

Investment banks’ culture of conflict

PRINT: Capital | 16 April 2012

Goldman Sachs’s Greg Smith and JPMorgan’s Ian Hannam are the latest to cast investment banking in a bad light. Capital delves into the culture that creates the conflicts.

First spark in TRUenergy IPO

16 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 16 April 2012 | PAGE 16 | First spark in TRUenergy IPO

The float of TRUenergy, expected to raise up to $3 billion, has kicked off in earnest.

Shareholders fight over coal float

16 April 2012 | Dan Hall

PRINT: 16 April 2012 | PAGE 3 | Shareholders fight over coal float

Influential shareholders in Coal of Queensland will take court action on Monday as part of a dispute over whether they should be allowed to buy a large part of the company at a big discount to its estimated value.

Poor day for IPOs as Oaktree tumbles

13 April 2012 |

Improvements in the landscape for initial public offerings appeared to have stalled a bit on Thursday, as newly public shares of the Oaktree Capital Group tumbled.

Oaktree IPO falls short at $380m

13 April 2012 | Devin Bannerjee

PRINT: 13 April 2012 | PAGE 24 | Oaktree’s IPO falls short at $380m

Oaktree Capital, the world’s largest distressed-debt investor, raised $US380.2 million in an initial public offering in the US after bringing in about 27 per cent less than the firm originally sought.

Italian debt costs rise sharply

12 April 2012 |

Italian three-year borrowing costs rose more than a full percentage point at an auction on Thursday, boosted by fresh concerns about weaker euro zone states, and Italy slightly missed its maximum planned amount of 3 billion euros for this bond.

Ex-CEO seeks up to $188m from Aston

12 April 2012 | Dan Hall

PRINT: 13 April 2012 | PAGE 7 | Ex-CEO sues Aston Resources

Hamish Collins, the former chief executive of Nathan Tinkler-backed coal group Aston Resources, has filed a claim against the NSW coalminer valued at between $125 million and $188 million.

IPO shines brightest among Rio's diamond options

12 April 2012 |

A stock market flotation is likely to top the list of options when Rio Tinto reviews the future of its diamond business, as a shortage of heavyweight buyers prompts the miner to turn to funds betting on Asia's appetite for luxury.

Oaktree prices IPO at bottom of range

12 April 2012 |

The Oaktree Capital Group priced its initial public offering at $US43 a share, at the bottom of the expected range for the investment giant, insiders say.

Italian three-year yields set to jump

12 April 2012 |

Italian three-year borrowing costs are set to jump by a full percentage point from a month ago at a bond auction on Thursday, the latest sign investors' concerns about Spain are spreading.

IPO market in US slowly rebounds

12 April 2012 |

A lacklustre stock market last year cooled the market for IPOs. But after US stocks surged in the first quarter this year, many companies have filed or reinstated plans to go public.

IMB shapes as target after restructure

12 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 12 April 2012 | PAGE 24 | Banks on watch as mutual moves to restructure

Financial services M&A has been restricted to wealth managers and financial planners in recent times but there could be deals brewing among the often overlooked mutuals.

Tumi sets IPO price at $US15 - $US17

11 April 2012 |

Tumi expects to price its IPO at $US15 to $US17 a share, giving a nice exit for controlling shareholder, London-based private equity firm Doughty Hanson.

Weak IPOs move into value territory

11 April 2012 | Brendon Lau

PRINT: 11 April 2012 | PAGE 28 | Weak IPOs move into value territory

Australian investors may have regained their appetite for risk this year, but the optimism is masking their general distaste for newly listed stocks.

Rowsthorn rallies chums for IPO

11 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 11 April 2012 | PAGE 14 | Rowsthorn rallies chums for offer

CHAMP Private Equity has offloaded International Energy Services to Mackay-based McAleese Transport, headed by former Asciano chief Mark Rowsthorn for between $275 million and $300 million in a deal first revealed by this column on January 31.

Mid-tier miners to lead M&A activity

10 April 2012 | Joyce Moullakis

PRINT: 11 April 2012 | PAGE 17 | Miners to lead M&A activity

Rothschild’s Trevor Rowe says cutting the red tape for capital raisings would help increase activity.

Calibre seeks to pull off $400m IPO

10 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 10 April 2012 | PAGE 16 | Calibre seeks to pull off $400m IPO

Initial public offering candidate Calibre Global has appointed Goldman Sachs and UBS to prepare the company for listing.

Energy play gets set for M&A action

09 April 2012 | Sally Rose

Energy management services and consultancy company Energy Action has appointed Nathan Francis as its new chief financial officer and company secretary.

Facebook said to choose Nasdaq for IPO

06 April 2012 |

Facebook, which is preparing for its highly anticipated initial public offering, has decided to list its shares under the ticker symbol FB on Nasdaq, insiders say.

Cuesta Coal IPO meets strong demand

05 April 2012 | Sarah Thompson and Anthony Macdonald

Renamed stockbroker Octa Phillip closed the books Thursday on its Cuesta Coal initial public offering with demand exceeding the original offer of $24 million.

UK fund buys 29pc of Burger King

05 April 2012 |

Still in the midst of trying to turn around the struggling brand, Burger King's say they sold 29 per cent of the company to a UK investment fund for $US1.4 billion.

China to allow more foreign investment

04 April 2012 |

China said it would raise the total quota for its qualified foreign institutional investor scheme (QFII), a main channel for foreign investment in Chinese securities, by $US50 billion to $US80 billion.

BTG Pactual readies $2.1bn Brazil IPO

04 April 2012 |

Brazil's BTG Pactual and shareholders could raise as much as $2.1 billion in an IPO that may turn the investment bank into one of the world's most valuable.

Burger King to go public, again

04 April 2012 |

Just 18 months after being taken private, Burger King Worldwide Holdings, the world’s second-largest fast-food chain, plans to list its shares on the NYSE.

On the Cuffe of a biotech listing

03 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 03 April 2012 | PAGE 18 | On the Cuffe of a biotech listing

UniSuper chairman Chris Cuffe, the man credited with building Colonial First State into one of Australia’s largest wealth managers, is behind a push to relist biotech shell Probiomics as a drug development company this week.

CLP steams ahead to float

03 April 2012 | Kevin Chinnery

PRINT: 03 April 2012 | PAGE 17 | CLP steams ahead to float

Hong Kong-based CLP Group is targeting a November listing for its Australian TRUenergy operations, with plans to sell up to 49 per cent of the company for $4 billion.

Oaktree IPO may raise $US518m

02 April 2012 |

The Oaktree Capital Group said it expected to price its initial public offering at $US43 to $US46 per stock unit, potentially raising as much as $US517.5 million in its market debut.

Michaels Stores prepares IPO

02 April 2012 |

Michaels Stores, the arts and crafts retailer owned by the Blackstone Group and Bain Capital, plans to file to go public as soon as this week, insiders say.

Groupon shares hit by accounting error

02 April 2012 |

PRINT: 02 April 2012 | PAGE 22 | Groupon shares hit by accounting error

United States-listed website Groupon unexpectedly revised its financial results on Friday, revealing deeper losses, which once again raised questions about accounting practices at the newly public company.

Rex book-build to burrow into Hillside

31 March 2012 | Luke Forrestal

PRINT: 30 March 2012 | PAGE 22 | Rex book-build to burrow further into Hillside

There are few better ways for an explorer to show confidence that a project will develop into a mine than raising money for the purchase of long lead-time items.

Avaya may delay IPO amid Facebook mania

30 March 2012 |

Telecom equipment maker Avaya may have to push out its initial public offering to 2013 amid fierce competition for investor attention from hot technology properties like Facebook.

Mobile advertiser stock doubles on market debut

30 March 2012 |

Shares of Millennial Media doubled in the mobile advertising company’s market debut as the IPO market heats up.

Rexnord opens above IPO price

30 March 2012 |

If trading in shares of the Rexnord Corporation are any indication, investors are warming up to initial public offerings again.

$631m deal topped the quarter

30 March 2012 | Stephen Shore

PRINT: 30 March 2012 | PAGE 36 | $631m deal topped the quarter

Confidence crept back into global markets in the first quarter of 2012 but it hasn’t translated into a lucrative period for investment bankers.

UBS tops league in quiet quarter for raisings

30 March 2012 | Stephen Shore

PRINT: 30 March 2012 | PAGE 22 | UBS tops raisings league

A three-way battle between Citigroup, JPMorgan and UBS late in the piece determined the top spot in the equity capital markets rankings in the weakest quarter in nine years.

Facebook halts trading in lead up to May IPO

29 March 2012 |

Social networking site Facebook is halting the sale of its shares on secondary markets as the company prepares to hold its initial public offering in May, according to a person familiar with the matter.

Energy juniors return as oil prices surge

29 March 2012 | Tony Featherstone

PRINT: 29 March 2012 | PAGE 26 | Energy juniors return as oil prices surge

Even a weak float market can proffer investment hot spots. After a long absence, junior energy floats are re-emerging as higher crude oil prices spark investor interest.

Pactual IPO seen overpriced, investors say

29 March 2012 |

Some investors believe Brazilian securities firm BTG Pactual is asking too much for its shares in an upcoming initial public offering, news reports say.

Bertelsmann considers an IPO

29 March 2012 |

Bertelsmann, the biggest media company in Europe, said it was considering a public share offering to raise money for expansion. The controlling Mohn family has previously resisted such efforts.

Facebook to ‘halt’ secondary trades next week

29 March 2012 |

Facebook is halting the trading of its shares on secondary markets by the beginning of April as it prepares for an initial public offering, two people with knowledge of the matter said.

Facebook halts trading on secondary markets

29 March 2012 |

Facebook is halting the sale of its shares on secondary markets effective next week, aiming to reduce churn in its valuation which could complicate matters as it sets an IPO price.

Genworth Australia won’t be rushed on float timetable

29 March 2012 | Sarah Thompson and Stephen Shore

PRINT: 29 March 2012 | PAGE 24 | Genworth Australia won’t be rushed on float timetable

Genworth Financial Australia’s partial initial public offering may not light up the league tables in the first half after all. Speculation is mounting that a float could be delayed until the second half.

Ignore the pre-IPO hype, please

29 March 2012 | Craig Semple, Evie Bruce and David Friedlander

Handling a pending public offer that everyone knows about but nobody can talk about can be torture, write King+Wood Mallesons partners Craig Semple, Evie Bruce and David Friedlander.

BATS chairman stripped of title: report

28 March 2012 | Will Willitts

BATS Global Markets has stripped chief executive Joe Ratterman of his title as chairman following the exchange operator’s botched IPO last week, the Financial Times reported.

Tin International gets HK attention

28 March 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 28 March 2012 | PAGE 18 | Tin listing hopeful gets HK attention

Tin International was centre stage at the Helmsec Mining Forum in Hong Kong last week, drumming up support for an initial public offering this year.

Royal Mail to file IPO next year, report says

27 March 2012 | Will Willitts

Britain’s coalition government aims to begin the privatisation of Royal Mail by selling or floating at least part of it in late 2013 if the post office’s finances further improve, the Financial Times reported.

Others in the IPO hall of shame

27 March 2012 |

After the horrible, ruinous Murphys Law-abiding fiasco that was the initial public stock offering of BATS Global Markets, many wonder if the company’s glitch-filled offering was the biggest IPO botch in history.

UK may sell part of RBS to Abu Dhabi

27 March 2012 |

Britain is in talks to sell up to a third of its holding in Royal Bank of Scotland to Abu Dhabi investors in a deal that could lose billions of pounds for taxpayers in the bailed-out lender, the BBC says.

Listing in the post for Royal Mail

27 March 2012 | Louise Armitstead

PRINT: 27 March 2012 | PAGE 49 | A float’s in the mail

Royal Mail could be packaged up for a £4 billion ($6.06 billion) stock­market float as early as next year under plans being considered by the British government.

US exchange abandons IPO after launch

26 March 2012 |

The third-largest stock exchange operator in the US experienced a system meltdown the very day it launched its own initial public offering.

Finders considers IPO for project

26 March 2012 | Sarah Thompson and Anthony Macdonald

Finders Resources has appointed Octa Phillip to explore spinning off one of its projects.

Goldfields a creditable WA offering

22 March 2012 | Tony Featherstone

PRINT: 23 March 2012 | PAGE 31 | Goldfields a creditable offering

Goldfields Credit Union plans to raise $9 million and become the only listed authorised deposit-taking institution headquartered in West Australia.

Investors wake to snore cure

22 March 2012 | Stephen Shore and Anthony Macdonald

PRINT: 22 March 2012 | PAGE 26 | Investors wake to snore cure

Ventus Medical, a US company with a Band-Aid like product targeting snoring, has been meeting with Australian investors this week ahead of a planned ASX listing.

$568 fine sought in Inpex insider trading case

21 March 2012 |

Japan's securities watchdog sought a fine of just $568 against Chuo Mitsui Asset Trust and Banking for insider trading on a 2010 share offering by Inpex, its first penalty in an ongoing probe into dubious trading around financing deals.

Genworth appoints chairman

21 March 2012 | ANTHONY MACDONALD AND STEPHEN SHORE

Ahead of its initial public offering, Genworth has appointed Richard Grellman as non executive chairman.

Facebook set to pay low IPO fee

21 March 2012 | Douglas McMillan

PRINT: 21 March 2012 | PAGE 27 | Facebook set to pay low IPO fee

Facebook, which is seeking to raise $US5 billion ($4.7 billion) in an initial public offering, is set to pay underwriters a 1.1 per cent fee.

Facebook to pay underwriters 1.1pc fee: source

20 March 2012 |

Facebook will pay just a 1.1 per cent fee to underwriters of its initial public offering, according to a source with knowledge of the company’s plans, doling out a much slimmer than typical payout.

China to be top importer in a few years

19 March 2012 | Lucy Gao

Minister of Commerce Chen Deming said that China, now the world’s second largest importer, will become the biggest in a few years.

Start early to reap the real rewards

16 March 2012 | Tony Featherstone

PRINT: 17 March 2012 | PAGE 27 | start early to reap the real rewards

If you want to make serious money, you’ve got to invest long before the float crowd. But you need an appetite for risk.

Williams’ lofty expectations for Coal of Qld float

16 March 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 16 March 2012 | PAGE 16 | Williams’ lofty expectations for Coal of Qld float

Brisbane mining entrepreneur Paul Williams’ Coal of Queensland has officially appointed Goldman Sachs as its adviser as it gears up for a listing it hopes will value the company at up to $800 million.

Coal play on tune, but timing could be better

15 March 2012 | Tony Featherstone

PRINT: 16 March 2012 | PAGE 27 | Coal play on tune, but timing could be better

After starring in recent years, coal explorers have been absent in the float market in 2012. Cuesta Coal wants to change that with a $34 million offer to develop Queensland projects.

Kai Medical tests waters for IPO

15 March 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 15 March 2012 | PAGE 28 | Kai Medical tests waters for a public offering

Appetite for initial public offerings may not be particularly healthy, but that has not stopped JPMorgan testing investor interest in a float of medical device company Kai Medical.

Guvera on song for Nasdaq listing

15 March 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 15 March 2012 | PAGE 28 | Guvera on song for Nasdaq listing

Gold Coast music technology company Guvera is beavering away at a possible listing on the NASDAQ. It is seeking $50 million in Australia and in the US at $1.50 per share as a step to showtime in New York.

Cuesta’s McPherson tackles IPO at coalface

14 March 2012 | Sally Rose

Megan McPherson has worked with many resources start-ups on their initial public offerings. Late last year she jumped ship to take a full-time role with one of those clients.

Armour to list after IPO success

14 March 2012 | ANTHONY MACDONALD AND STEPHEN SHORE

Armour Energy is expected to list next month after closing its initial public offer.

Sharemarket listing is Priority One

14 March 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 14 March 2012 | PAGE 18 | Sharemarket listing is Priority One

Sino Securities is advising Melbourne-based loyalty rewards scheme Priority One Network Group on what is shaping up to be a $300 million listing, as first reported on Street Talk Online.

Citigroup may win right to boost dividend

13 March 2012 |

Citigroup may be a surprise winner when the Federal Reserve reveals the results of bank stress tests designed to gauge the health of the biggest US banks.

Dart Energy seeking more assets in Australia

13 March 2012 | Dan Hall

PRINT: 13 March 2012 | PAGE 22 | Dart Energy seeks more assets here

Gas explorer and developer Dart Energy is looking to acquire additional shale gas and unconventional gas assets within Australia in a bid to broaden its domestic portfolio of greenfield energy projects.