«Latest  ‹Forward   News item: 7427  Back›  Oldest» 

Highly indebted mobile-phone mast corp. Arqiva, cancels IPO
United Kingdom Created: 15 Nov 2017
(extracts from article in MoneyWeek) Radio and mobile-phone mast company Arqiva, which had hoped to raise £4,5bn - blamed market uncertainty [for cancelled IPO].

Arqiva - “really deserve some kind of medal for limp excuses”, says Jeremy Warner in The Sunday Telegraph. Citing market uncertainty at a time when share prices have been hitting new record highs for months is like being a clothing retailer blaming a poor summer season on too much sunshine. It’s not hard to see what’s really going on here: the flotations’ sponsors were just being “too greedy”.

Arqiva, which is highly indebted, had just failed to secure a private sale, notes Jim Armitage in the Evening Standard, which means equity investors were being asked to buy something nobody else wanted – hardly an especially appealing proposition.

Click here to view the source article.
Source: MoneyWeek, Andrew Van Sickle, 10 Nov 2017

«Latest  ‹Forward   News item: 7427  Back›  Oldest»