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…
Download PDF Introduction On September 21st, Universal Music Group (UMG), the world’s biggest music label, went public via an IPO on Amsterdam’s Euronext exchange. Universal’s shares surged at the start of trading on Tuesday, as owner Vivendi VIV.PA spun off the record label in the biggest European listing of the Read more…
Download PDF Introduction Covid-19 and the policy measures put in place to contain its spread have not only resulted in significant operational disruption for companies, e.g. reductions in demand from customers and failing supply chain with reduced inventories available for sale, but have also created serious issues for companies across Read more…
Download PDF Deliveroo Holdings PLC (LON: ROO) – Market Cap as of 10/04/2021: £4.66bn Introduction On the 31st of March, Deliveroo made its debut on the London Stock Exchange. The deal had been presented as a sound victory for the post-Brexit London stock exchange and a path forward for future Read more…
Download PDF IPOs volatility Initial returns of initial public offerings are usually large, averaging 15.1% over the 1965–2004 period (excluding the dot.com bubble interval that would further boost IPOs returns). For investors that can buy IPOs at the offer price, IPOs are a good short-run investment. However, we should care Read more…
Download PDF Part 1 – A booming equity market The successful IPOs of Airbnb and DoorDash at the end of 2020 were in stark contrast with the high-profile debuts of big privately held companies, such as Uber and Lyft, which were not met with investor excitement in 2019. Not to Read more…
Download PDF Welcome back from the winter break and happy 2021! According to JPMorgan, the outlook of M&A in 2021 is very positive. Indeed, mainly due to a reduction in political uncertainty, the development of vaccines and strong capital markets, there is increased confidence in management and board of directors, Read more…
Introduction On November 5th, the world’s highest-valued fintech company, Ant Group, had plans to list its shares on the Hong Kong and Shanghai Stock Exchanges in the largest IPO in history, aiming to raise a total of $37bn and to surpass Saudi Aramco’s record of $29bn from December last year. Read more…