SPAC frenzy holds valuable lessons for the UK May 6, 2021 | City Talk The explosive growth in Special Acquisition Purpose Company (SPAC) listings – shell companies listed on the stock exchange with the purpose of ‘reversing-in’ to another company and taking it public by the backdoor, has so far been a purely US phenomenon. However, other markets are now catching on. The value of listings by SPACs grew [...]
Digital ad firm Dianomi plots £70m London stock market float May 4, 2021 Digital advertising firm Dianomi today unveiled plans for a stock market float in London, marking another boost to the City’s booming initial public offering (IPO) scene. Dianomi, which specialises in paid content for financial services clients, is targeting a £70m valuation and aiming to raise £25m through listing on London’s Aim market this month. The [...]
London IPO: Darktrace shares surge 40 per cent on market debut April 30, 2021 Shares in UK tech darling Darktrace soared on their London debut, jumping as much as 42 per cent higher than their initial listing price, in an IPO that valued the company at £1.7bn. Darktrace this morning said shares were priced at 250p in its London IPO, the midpoint of the range. Upon the opening bell shares traded [...]
Darktrace races out of the blocks: A boost for London’s IPO market after Deliveroo’s flop April 30, 2021 In a welcome boost for the London IPO market after the Deliveroo flop, UK cybersecurity company Darktrace launched this morning well above its initial price of 250p per share, jumping sharply to 350p in opening trade. There were early indications that the initial valuation might be higher than this, at around £3bn, however it appears that [...]
UFC owner Endeavor hits $11.6bn valuation on stock market debut April 29, 2021 Talent agency group and UFC owner Endeavor has secured a valuation of $11.6bn (£8.3bn) after taking its second shot at floating on the stock market today. The company, which was founded by Hollywood mogul Ari Emanuel, opened at $27 on the New York Stock Exchange, 12.5 per cent its offer price of $24. Emanuel founded [...]
Music Magpie secures new funding ahead of £208m stock market float April 20, 2021 Tech resale site Music Magpie today said it has secured £20m in fresh funding, just days after confirming plans for an initial public offering in London. The online retailer, which allows consumers to exchange old devices such as phones and game consoles to cash, has inked the deal with Silicon Valley Bank’s (SVB) UK branch. [...]
Cyber firm Darktrace confirms plans for London float in early May April 19, 2021 UK cybersecurity company Darktrace today confirmed it will float on the London Stock Exchange in the coming weeks as it looks to build on a successful pandemic year. The firm’s offer price will be determined following a book-building process, with the listing expected to take place early next month. The company is understood to be [...]
Grab finalises $40bn US listing through largest ever Spac deal April 13, 2021 Ride hailing and food delivery firm Grab today finalised a merger with Altimeter Growth to go public in the US at a valuation of just under $40bn (£29bn). The tie-up represents the largest ever Spac (special purpose acquisition company) deal ever made amid a frenzy of blank cheque deals on Wall Street. The Singapore-based startup, [...]
Tracking tech firm Buddi homes in on £500m London float April 13, 2021 A British tech firm that makes trackable wristbands is gearing up for a £500m stock market float in London. Buddi, which was founded by serial entrepreneur Sara Murray, has appointed Zeus Capital to oversee a listing later this year. The company produces wristbands that can be worn by vulnerable people. The bands can be connected [...]
Pensionbee targets £384m valuation as it gears up for London float April 12, 2021 Pensionbee is targeting a valuation of up to £384m as it prepares to list on the London Stock Exchange later this month. In a filing today the fintech firm priced its initial public offering at between 155p and 175p per share, giving a market capitalisation of between £346m and £384m. It plans to raise £55m [...]