IPOs
UPDATE 1-Lazard issues 14.6 mln shrs, trims debt
NEW YORK, May 16 (Reuters) - Investment bank Lazard Ltd on Friday said it issued 14.6 million common shares worth about $150 million to buy back convertible debt sold during its 2005 initial public offering, a transaction boosting its book value and trimming debt levels. Full Article
UPDATE 1-AIG says completed stock, unit sales
NEW YORK, May 16 (Reuters) - American International Group Inc , the global insurance giant, said on Friday it completed the sale this week of 196.7 million common shares at $38 a share and sold 78.4 million equity units at $75 a unit, raising more than it originally planned. Full Article
Cox Enterprises is buying online advertising firm Adify for at least $300 million -- not a bad multiple on expected 2008 revenues of $35 million. Go to Blog
Top Global IPOs
Closed last week (3 May to 9 May 2008)
| Company | Country | Completed | Amount Raised $M |
|---|---|---|---|
| New World Resources BV | Netherlands | 9-May | 2,470.8 |
| Esso (Thailand) PCL | Thailand | 6-May | 451.4 |
| Globaltrans Investment PLC | Cyprus | 8-May | 449.0 |
| Maoye International Holdings | Hong Kong | 5-May | 343.3 |
| Colfax Corp | United States | 7-May | 337.5 |
| Western Gas Partners LP | United States | 9-May | 309.4 |
| Shenzhen Auto Electric Power Plant Co Ltd | China | 6-May | 56.6 |
| Real Goods Solar Inc | United States | 8-May | 55.0 |
| QiMing Information Technology Co Ltd | China | 9-May | 43.2 |
| Doppler S.A. | Greece | 7-May | 41.1 |
Top Industries: Global IPOs
Announced in the last 13 weeks (9 Feb to 9 May 2008)
| Industry | Deals | Value $M |
|---|---|---|
| Energy | 30 | 5,936.2 |
| Financials | 96 | 1,905.2 |
| Industrials | 63 | 1,828.9 |
| Non-Cyclical Consumer Goods / Services | 23 | 1,443.6 |
| Cyclical Consumer Goods / Services | 35 | 920.7 |
| Basic Materials | 55 | 538.1 |
| Technology | 32 | 220.1 |
| Healthcare | 16 | 56.0 |
| Utilities | 4 | |
| Telecommunications Services | 1 |
The mist is beginning to clear. I am beginning to see a golden dollar sign.
Execs defend humans in high-tech markets
NEW YORK (Reuters) - The heads of the world's biggest stock exchanges agree there is still room for the "human element" in a high-speed trading environment that has aggressively gone electronic. Full Article
