AgBank smashes world IPO record

first_img whatsapp Share KCS-content A HONG Kong and Shanghai stock market listing of shares in Agricultural Bank of China (AgBank) has become the world’s largest ever initial public offering.AgBank said yesterday it had fully exercised an over-allotment option for the Shanghai portion of the stock market listing, boosting total proceeds from the offer to $22.1bn (£14.2bn).The previous record for the world’s largest IPO was held by the bank’s domestic rival Industrial and Commercial Bank of China (ICBC), which completed a $21.9bn IPO four years ago.The exercise of the over-allotment, known as a “greenshoe”, brings the number of shares sold in AgBank’s Hong Kong and Shanghai offerings to 54.79bn, increasing the original $19.3bn raised by 15 per cent.AgBank had already exercised a similar option for its Hong Kong portion last month.Over-allotments are released when demand for the shares in the after-market is heavy. Underwriters release the shares, set aside at the original IPO price, to the allocated holders who then become public stockholders. However, the bank – which began trading on the two stock markets in the middle of last month – had feared that the over-allotment quota could be clawed back by underwriters after a weak debut. Its share price has struggled to retain its value over the first weeks of trading in tepid market conditions. Tags: NULL AgBank smashes world IPO record center_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Sunday 15 August 2010 11:08 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Show Comments ▼ whatsapplast_img read more

Japan’s government mulls further policy stimulus

first_img whatsapp Japan’s government mulls further policy stimulus JAPAN’S government will consider further stimulus steps, potentially making it the first developed country to turn to additional fiscal spending since the global crisis, as a strengthening yen threatens its faltering recovery.But the additional stimulus is expected to be relatively modest and is likely to involve reallocating funds rather than new spending. The government will start to debate stimulus steps on Friday, economics minister Satoshi Arai was quoted as saying by Jiji news agency yesterday.The government debate may precede a meeting between Prime Minister Naoto Kan and Bank of Japan governor Masaaki Shirakawa, which a government source said is expected to be held next Monday. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share whatsapp KCS-content center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd Show Comments ▼ Tuesday 17 August 2010 8:17 pm Tags: NULLlast_img read more

Thames River bosses share £26m payout

first_img Share whatsapp KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndo Thames River bosses share £26m payout Thursday 9 September 2010 8:36 pmcenter_img whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ THAMES RIVER CAPITAL, the fund firm recently bought by rival F&C, has shared £25.9m between the partners of its main subsidiary, despite a fall in profits and big outflows from its hedge funds.The payout to the 25 members of Thames River Capital, including chief executive Charlie Porter, chief operating officer Jeremy Charles and commercial director Loudon Greenlees, came despite a near-halving of profits for the year to March, accounts filed this week show.The boutique firm shared out £41.1m between 19 members the previous year.Like many managers of hedge funds, Thames River has seen clients exit as it deals with the aftermath of a difficult credit crisis for the $1.6 trillion (£1 trillion) industry.During the year to March its $600m Hillside Apex credit fund was closed, while its Warrior funds of hedge funds paid back around $300m to clients from side pockets – separate portfolios holding hard-to-sell assets bought before the credit crisis.However, Thames River did see inflows into its credit, global bonds, multi-manager and real estate funds, investment boss Michael Warren said. F&C completed its purchase of Thames River this month, having been attracted by the group’s higher margin retail and hedge funds and the chance to rebuild asset levels as outflows from its own portfolios continue. The fall in Thames River’s operating profit over the year — to £20.5m from £36.1m — may have been due to the outflows from its hedge funds, which tend to earn higher margins than mutual funds. Tags: NULLlast_img read more

EU calls for roaming fees to be slashed

first_img LARGE roaming fees charged by telecoms operators are “an outdated concept” and the European Union is prepared to take steps to reduce the costs, the bloc’s telecoms chief said yesterday. Digital Agenda Commissioner Neelie Kroes, who oversees telecoms and the internet across the 27-country EU, signalled she was prepared to continue to cap lucrative roaming charges that have been a strong source of income for mobile phone companies.Her predecessor, Viviane Reding, shocked the telecoms industry in 2008 by capping the amount mobile phone companies could charge for calls, sending text messages and downloading data while abroad. The European Parliament backed the proposals last year.“The [European] Commission’s review of the Roaming Regulation must look at the source of the problem and potential solutions in their full context,” Kroes said in the text of a speech prepared for delivery at a European Telecommunications Network Operators Association (ETNO) conference.“The relevant context is the lack of a really competitive single market for all aspects of telecoms services in Europe.”In her previous job as EU competition commissioner, Kroes imposed fines worth billions of euros on companies that broke EU antitrust rules.Kroes said a genuine EU single market should be one where price differences between voice, text messages and data were based only on the actual cost of providing these services.Kroes added: “The exorbitant cost of ‘roaming’ abroad within the EU is an outdated concept.” KCS-content Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof whatsapp EU calls for roaming fees to be slashed Thursday 23 September 2010 8:06 pm whatsapp Show Comments ▼ Tags: NULLlast_img read more

Rolls-Royce sued over patent

first_img KCS-content whatsapp In a continuing battle over engine part designs, jet engine-maker Pratt & Whitney yesterday sued Rolls Royce, accusing the British company of misleading the US Patent and Trademark Office to obtain a patent. Pratt & Whitney, a subsidiary of United Technologies, said in its lawsuit that Rolls-Royce’s patent is invalid and unenforceable. The East Hartford-based company accused Rolls Royce of unlawfully using its patent and taking other actions to harm Pratt & Whitney. Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comcenter_img Share Rolls-Royce sued over patent Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof Tags: NULL Monday 27 September 2010 8:52 pmlast_img read more

Thousands of troops to go in defence cuts

first_img Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Thousands of troops to go in defence cuts Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Tags: NULL This means stockpiles of traditional military hardware such as tanks and fighter jets could eventually become superfluous to requirements.Altogether the defence budget will be cut by around eight per cent over the parliament. This is compared to 25 per cent in most government departments.The coalition is expected to give the go-ahead to a £5.2bn programme to build two new aircraft carriers. However, for up to eight years there will be a “capability gap” where there will be no available jets for the first carrier. Cameron will put this down to Labour’s legacy of debt and poor management of military contracts.There will also be more cooperation with British allies, especially the French, who will be granted limited use of the aircraft carriers and take part in joint training exercises.Cameron said: “Our objectives are a secure and resilient UK. Our national interest requires our continued engagement in world affairs, promoting our security… and our values.” Show Comments ▼ whatsapp whatsapp DAVID Cameron will today unveil the most drastic cuts to the defence budget in a generation.In his government’s defence review he is expected to slash the number of army troops by 7,000 and scrap the iconic Harrier jump jet.However, he will argue that the changing national security landscape means that the billions saved on defence spending will not leave the UK vulnerable.According to the National Security Strategy released yesterday, the most high priority security risks facing the UK are now terrorism, cyber attacks and natural disasters. KCS-content Share Monday 18 October 2010 8:11 pmlast_img read more

Matrix splashes £5m on stake in headhunter RDL

first_img Matrix splashes £5m on stake in headhunter RDL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Sunday 7 November 2010 8:39 pm BUYOUT specialist Matrix Private Equity Partners (MPEP) is to splash £5m on an invesment in RDL Corporation, a European recruiting firm specialising in the pharmaceutical and IT sectors.MPEP will be taking a minority stake in the firm that will see one of its partners, Iain Livingston, take over as chairman of RDL.The Woking and London-based recruitment company currently employs 70 people but will now step up plans to expand.MD Stuart Britton says: “We want to establish ourselves as the niche market leader in pharma and IT recruitment.” Since 1992, RDL has found staff for over 300 companies.MPEP’s Jonathan Gregory says the aim is to bring in business from outside the UK as well as domestically: “Growth is expected from geographical expansion as RDL secures an increasing amount of business from both the UK and Western Europe,” he says.The buyout comes during a year of energetic mergers and acquisitions among large-cap firms, although the private equity business has been quiet.Prominent private equity figures in the industry such as Better Capital’s Jon Moulton have suggested that there is more bad news to come before the situation improves. center_img whatsapp whatsapp Share Tags: NULL Show Comments ▼last_img read more

Pearson buys CTI Education in £31m deal

first_img Tags: NULL Share Pearson buys CTI Education in £31m deal Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAdventure CrunchHere Are the Most Famous Pro Wrestlers From the Past TodayAdventure CrunchUndoFinance BLVDThis Star from ‘Gilligan’s Island’ is 101 & lives a humble life nowFinance BLVDUndoArticles StoneLittle Boy Brings $2 Painting To Antiques Road Show, Not Realizing Its WorthArticles StoneUndothedelite.comNetflix Cancellations And Renewals: 2021 Updatethedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndo EDUCATIONAL publisher Pearson will acquire CTI Education Group for £31m as it continues its expansion in South Africa.The Financial Times publisher will buy 75 per cent of the firm, which is among the leading private higher education providers in South Africa with more than 9,000 students.Pearson says it expects the transaction to enhance its adjusted earnings per share and return on invested capital from 2011.The agreement includes a provision under which Pearson may acquire the remaining 25 per cent of CTI in three years. The transaction is subject to regulatory approval and is expected to close in the first quarter of 2011.Pearson says it plans to recruit more students from throughout southern Africa to CTI’s campuses, as well as expanding its distance learning facilities.John Fallon, chief executive of Pearson’s International Education business, said: “We are excited to bring our global resources to bear on the higher education sector in South Africa, to help meet a growing demand for high-quality, career-advancing higher education.“We are deeply impressed by the quality of CTI’s business and the commitment of its management and staff to produce excellent outcomes for students.”Pearson has a growing presence in southern Africa, with a network of companies including Maskew Miller Longman, Heinemann South Africa and the South African operations of Edexcel.The firm has a strategy of moving away from traditional book publishing to educational technology. Sales in its International Education division are up eight per cent year-on-year for the nine months of 2010. Show Comments ▼center_img KCS-content whatsapp whatsapp Monday 22 November 2010 7:24 pm More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comlast_img read more

Brewin says regulation hits profits

first_img KCS-content BRITISH financial services group Brewin Dolphin yesterday said it posted a 25 per cent increase in underlying pre-tax profits during the year to 26 September as it brushed off the impact of higher regulatory costs.Brewin Dolphin said profits excluding redundancy costs, contract renewal payments and the amortisation of client relationships was £40.2m for the full-year.After exceptional costs, pre-tax profits were £31.4m, a 43 per cent increase from a year earlier.Brewin Dolphin said the year had seen a “material rise” in the costs of regulation as British authorities shake up selling of financial services after the financial crisis and that the company planned to find ways to mitigate the cost.“Your board believes that the impact of regulation upon the business is unlikely to reduce in the foreseeable future,” the company said.The investment management business, which accounted for 96 per cent of group turnover, saw an 18 per cent rise in revenues while total funds under management increased 13 per cent to £23.3bn.The company proposed a final dividend of 3.55p per share, bringing the total dividend to 7.1p. whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndo Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Wednesday 1 December 2010 8:23 pm whatsappcenter_img Show Comments ▼ Share Tags: NULL Brewin says regulation hits profits last_img read more

Oberthur to take its bid to shareholders

first_imgTuesday 7 December 2010 8:45 pm Show Comments ▼ Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof whatsapp FRENCH firm Oberthur Technologies is set to continue un-deterred in its attempts to buy UK money printer De La Rue, despite the rejection of its bid on Monday.Analysts are now anticipating a possible bidding war to take off over the next week, with German money printer Giesecke & Devrient named as a possible rival.Sources close to Oberthur told City A.M. that the firm, which is privately owned by the Savare family, will be reaching out to De La Rue shareholders over the next few days in an attempt to persuade them of the benefits of the takeover.The major shareholders include Capital World Investors, which holds 15 per cent of the stock, and Prudential, which holds 12 per cent. In response to the bid, De La Rue’s senior management refused to meet with Oberthur and described the bid as a “highly opportunistic and preliminary proposal which does not begin to reflect De La Rue’s fundamental value”.But many analysts were surprised by the response: the offer, at 905p per share, was 65 per cent above the share price on the day that it was made and is still above yesterday’s 847p close.De La Rue has been vulnerable to a takeover bid ever since its announcement last month that it is in danger of losing its biggest client, the Reserve Bank of India, due to printing problems. Share whatsapp Tags: NULL Oberthur to take its bid to shareholders KCS-content last_img read more