IQE plc (AIM: IQE), a leading global supplier of advanced products and services to the semiconductor industry, announced that it has successfully placed 67,941,581 new ordinary shares of 1 pence each in the Company, at a price of 140 pence per share, raising gross proceeds of approximately £95 million. The Shares placed represented approximately 10% of IQE's existing outstanding issued share capital. (Read more)
After several years with no large eye-catching floats on the London Stock Exchange, finally we have a successful IPO for a tech firm in London, to rival the scale of floats found in the US. Shares in Alfa Financial Software Holdings Plc, which provides software used by firms to manage loans for the purchase of assets ranging from office equipment to cars, planes and satellites, were floated on Friday 26th May and the company achieved a first-day market valuation of 1.2 million pounds. This was up from the 975 million pounds the company was valued at before the IPO, reflecting the price per-share of 325p. Alfa shares soared by 32% and the share price was 429.75p at the close of market on Friday. (Read more)
It is the time when we reflect on what lies ahead, and on what are the trends which are shaping the economy of the year which just begun. Technological innovation as always is one of the main driving factors of change in the business world. The Internet of Things (IoT) is the next big trend which is set to hit the economy in 2017. From self-driving cars to homes equipped with smart metres to smart clothing, the industry for connected devices is going to permeate the way we will live our lives. The Internet of Things is going to make its big impact, in business and in society, and as with any far-reaching innovations launched in Silicon Valley, there is the potential for substantial profits to be made. (Read more)
Stock investors are generally buoyed by the news of the impending merger of a quoted company, and its share value will rise following the announcement. But other times the opposite is true: this is what happened with William Hill (WMH.L) after the decision to walk away from the proposed three-way deal with betting companies 888 holdings and Rank. The two latter companies had each put in an offer worth over £3bn, but it was eventually turned down by the William Hill board, despite the two suitors raising its offer to 352p, up from the 339p indicated in the original proposal. This merger could have created the biggest online gambling operator in the UK, following a trend of consolidation in the industry. William Hill rejected the bid because it believed it was “substantially undervalued” and concluded that it would focus on its own strategy to deliver continuing value to shareholders.