Download PDF Introduction After a challenging 2023, in the first two quarters of 2024, the Equity Capital Markets activity has been recovering. As of May 2024, the ECM volume YTD accounted for $108bn, compared to $171bn for the whole 2023. Moreover, since the beginning of the year, convertibles were issued Read more…
Download PDF Pre-IPO history The legend goes that the idea for what would become a multibillion-dollar disruptive company originated when its co-founders, Garrett Camp and Travis Kalanick, could not manage to find a cab after attending a prestigious tech conference in Paris. Both already successful startup founders, they envisioned a Read more…
Download PDF Introduction Following the recent re-opening of the IPO market, CVC Capital Partners, the venerable European private equity firm, is said to be preparing to go public. This raises the question of whether doing so is a good idea. It is easy to say that going public is just Read more…
Download PDF Introduction Lackluster equity capital markets are showing signs of recovery, after almost two years of low activity. The downturn was initially caused by rising uncertainty as high inflation, rising interest rates and a gloomy economic outlook that encouraged investors to ditch growth stocks and turn to safer, more Read more…
Download PDF Introduction After the great years of 2020 and 2021, the cryptocurrency market has been recently going through what many industry analysts believe to be a “crypto winter”, with Bitcoin prices reaching a low of $15,000 in December 2022, falling from almost $60,000 in November 2021. The fall from Read more…
Download PDF Introduction On April 13th Lottomatica announced plans to go public via an IPO seeking a valuation of up to €2.67bn. The gambling company, owned by the alternative asset manager Apollo Global Management [NYSE: APO], intends to list its shares on the Borsa Italiana by the end of April Read more…
Download PDF Introduction Endeavour Group, the parent company of the Ultimate Fighting Championship, announced its plans to acquire WWE, the world’s largest professional wrestling organization, on April 3rd, 2023, creating one of the world’s greatest sports entertainment corporations, valued at $18.4bn. WWE has mostly lost its pop culture appeal and youthful following Read more…
Download PDF Introduction Following the devastating bear market of 2022 where trillions of stock market capitalization seemingly disappeared into thin air, The Rothschild family, the majority stakeholder of Rothschild & co. [ROTH: EPA], has decided to bid for the rest of the shares of the company in the hopes of Read more…
Download PDF Introduction In 2022, the number of IPOs has plummeted to lows comparable to post-financial crisis levels after the highs of 2021 with individual deal values falling due to lower valuations. In September, the number of US IPOs was a mere 20% of the ones in the same period Read more…
Download PDF Introduction Ernst & Young is leading the biggest shake-up of the audition industry since the collapse of Artur Anderson two decades ago. Towards the end of 2021, EY started discussing a possible split of its advisory business from the auditing operations. The goal of this transaction is to Read more…
Download PDF Introduction On September 7, 2022, Repsol announced it would sell a 25% stake of its worldwide upstream business to EIG for $4.8bn, consisting of both equity and net debt. The transaction is expected to close within the coming six months, subject to customary closing conditions. The deal comes Read more…
Download PDF Introduction After months of rumours, intentions and promises, Porsche, the famous luxury German automaker, and property of the Volkswagen Group (VW), finally seems ready for its IPO, initially announced in February 2022. Porsche should start trading by the end of September and the beginning of October on the Read more…
Download PDF Latest trends in Equity Capital Markets In 2021, Equity capital markets showed an outstanding recovery from 2020, with the S&P 500 closing at historic highs throughout the year. The first half of the year saw a substantial improvement in investor confidence with the passage of the American Rescue Read more…
Download PDF Introduction On Thursday November 18th, the fast food restaurant chain serving salads, Sweetgreen (SG) debuted on the New York Stock Exchange. The IPO was priced at an initial offer price of $28 per share. On the first day of trading, Sweetgreen’s opened with a stock price of $52 Read more…
Download PDF Introduction On September 16, 2021, Prenetics Group Limited, a world leader in the field of genomics and diagnostics, announced that it has reached a definitive merger agreement with Artisan Acquisition Corp., a special purpose acquisition company privately founded by famed entrepreneur Adrian Cheng and listed on the Nasdaq Read more…