Saudi Arabia has taken a key step towards allowing future investors to buy shares in its national oil company, as it prepares for the world’s biggest stock market flotation later this year.
Arqiva, the owner of TV, radio and mobile phone masts across Britain, is to float with a projected market value of £6bn in what will be the UK’s largest stock market listing so far this year.
IPOs started the year with great promise, but have fizzled on high profile disappointments and the refusal of tech unicorns to go public.
London’s world-class reputation for corporate governance is at risk if the City regulator presses ahead with plans to water down stock market rules for companies owned by sovereign wealth funds, business leaders have warned.
Singapore Exchange is gunning for more tech IPOs to alter perception that it is an attractive listing destination only for REITs.
The New York Stock Exchange (NYSE), home to this week’s eagerly-awaited IPO from Snap, has been the most popular exchange for new listings globally so far this year.
What sheltered lives they’ve been leading at the Financial Conduct Authority (FCA). For about two decades now, anybody who follows the flotation, or initial public offering (IPO), scene in London has known the process of bringing a company to the stock market is riddled with obfuscation and conflicts of interest.
Snapchat hopes its planned flotation in New York will value the five-year-old photo-sharing app company at up to $25bn (£20bn) and turn its 26-year-old founder, Evan Spiegel, into the world’s youngest billionaire with a $5.5bn fortune.