CITY FOCUS: Floating is now back in fashion in London
Posted by Lucky on Feb 1, 2010
With travel services group Travelport leading the way with a £2.2bn stock market listing, London appears set to become a hive of investment activity once more.
But bankers warn there is only a small window of opportunity to get deals away before a spring General Election brings uncertainty back to the City.
Furthermore, with the credit markets now thawing, debt is becoming available for deals.
This means solid businesses are equally likely to be snapped up by private equity or rival firms at top prices instead of making it to flotation.
Last year, there were just 11 listings in London – mostly on the Alternative Investment Market – with a total value of £1bn, according to data from Dealogic.
This compares with 298 deals valued at £35bn in 2006.
Instead, 2009 was a record year for rights issues as troubled companies raised £73bn.
source: http://www.dailymail.co.uk/money/article-1247841/CITY-FOCUS-Floating-fashion-London.html
