Asos eyes international

first_img KCS-content whatsapp whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Show Comments ▼ Tags: NULLcenter_img Monday 8 November 2010 9:16 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Share Asos eyes international ONLINE retailer Asos is pinning its hopes on overseas expansion as it announced a 59 per cent surge in profit yesterday. The company’s profit boost represented a £7m rise in the six months to September. Asos, which offers cut price fashions aimed at 18-34 year-olds, saw a 50 per cent rise in retail sales to £131m over the period.Chief executive Nick Robertson told City A.M. the company was seeing a massive rise in international sale, with Australia and Germany among the big climbers.He said: “Everybody around the world loves the variety offered by Oxford Street. That’s what we are offering via the web. Although we are obviously interested in increasing sales in the UK, we recognise that our growth is being driven overseas.”International retail sales soared from £22.3m to £49m in the period.They now represent 37 per cent of total retail sales. That rose from 25 per cent for the same period last year. Asos has launched French and German language websites, which followed a US site launch in September. Robertson added: “We have had a very busy period and we are on target for the year. We are re-investing a lot to continue our progress.” last_img read more

Crisis must be used to force change

first_img SOMETIMES, crises are the best way to force through change. Take what has happened to the US car industry. I wish the US government hadn’t bailed out General Motors; governments should not be in the business of helping individual firms in this way. The assistance helped GM’s remaining employees but it unfairly put other companies at a competitive disadvantage, including Ford, Toyota and others who had done all the hard work to put their own houses in order. Putting that crucial point aside, however, at least GM was transformed during its bankruptcy phase, with factories shut and ridiculously generous union-negotiated wage and pension costs cut to more realistic levels. The firm now makes money on every car it sells, rather than losing a packet.The IPO values GM at about $63bn. Roughly $23.1bn will have been raised, the biggest public offering in history, eclipsing the $22.1bn raked in by Agricultural Bank of China in July. This is an astonishing turnaround from GM’s near-death experience in 2008. Its rescue left the US Treasury with a 61 per cent stake, cut to 33 per cent yesterday. At $33 a share, the partial sale represents a loss of $9bn on taxpayers’ original investments; however, the soaring share price means that they could still quite easily break even on the deal over time. GM’s transformation – it has, of course, still a long way to go – is a perfect case study of how a crisis can transform a seemingly untransformable organisation and thus end up being beneficial.In a similar fashion, the British government ought to have made use of the Irish crisis to push through real change in the EU and force a renegotiation of the Treaties to allow the UK to extricate itself of those bits that it doesn’t like. Prior to the election, the Tories said they wanted to repatriate some powers from Brussels to Westminster, including on social policy. Depressingly, the trend since the election has been entirely the other way, with European institutions cracking down on the City like never before. The government has blown a once-in-a-decade opportunity to reverse this nonsense. Eurorealist Tories have been defeated by unthinkingly pro-EU elements within the coalition.One change which the crisis mustn’t trigger is the abolition of Ireland’s 12.5 per cent rate of corporation tax. Competition between nations for capital, labour and corporate HQs is a good thing. The French and Germans hate it, because they want to keep taxes higher; they would rather create a cartel of high-tax nations. If Ireland were forced to give up what is one of its few successful policies, it is finished as an economy. Hiking corporation tax wouldn’t even raise any money. Firms that have relocated to Dublin would simply up sticks again and move somewhere else; they won’t return to high tax countries. There are more low tax jurisdictions than ever, not least the up and coming global financial centre that is Singapore.The Eurozone’s existential crisis won’t end with Ireland’s bailout. It will be merely delayed. Ireland can be saved. This may not be true of some other Eurozone countries; their day-to-day non-banking budget deficit are much larger and their economies less competitive. Another bailout of another small country a few months down the line would start to stretch the EU and IMF’s ability to cope. The real worry is whether Spain or Italy will eventually lose the markets’ confidence. Britain desperately needs to turn this crisis to its advantage. [email protected] KCS-content whatsapp Crisis must be used to force change Thursday 18 November 2010 8:54 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Share Show Comments ▼ whatsapp Tags: NULLlast_img read more

Larry Fink says euro will drop to $1.20 level

first_img More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Sunday 28 November 2010 9:22 pm Share Larry Fink says euro will drop to $1.20 level KCS-content whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com LARRY Fink, the founder of BlackRock, has warned the euro will depreciate “considerably” against the dollar, to $1.25 or $1.20, as a result of the Eurozone crisis. Fink said the dollar would have been even stronger were it not for the US Federal Reserve’s decision to begin another round of quantitative easing. He said the euro would continue to take a battering because of the “fundamental problem” that the banking sector owns the bulk of European sovereign credit. Fink added Eurozone banks and nations should reduce their reliance on short-term funding. Tags: NULL Show Comments ▼ whatsapplast_img read more

Prudential aims to double Asian profits by 2013

first_img Prudential aims to double Asian profits by 2013 whatsapp alison.lock Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsappcenter_img Wednesday 1 December 2010 3:07 am Show Comments ▼ THE UK’S largest insurer, Prudential, aims to double the value of its 2009 new business profits in Asia by 2013, taking advantage of the region’s low penetration rates, it announced today.It is also targeted a doubling of its 2009 life insurance and asset management pre-tax profit by 2013, Prudential said in a statement posted on the Hong Kong stock exchange.“Our strategy is sound, and we continue to pursue it with the operating discipline that has delivered excellent results on all measures over a sustained period,” said Prudential chief executive Tidjane Thiam in the statement.Prudential reported new business profit of £713m in 2009, and £713m in life insurance and asset management pre-tax operating profit in the same year, it said.New business profit is a term used in the insurance industry to show how much premiums grew in a specified period, and is used because costs tend to be higher at the start of a policy’s lifespan, which could distort actual earnings.Asia has fuelled much of Prudential’s business in the past few years, where it attempted a $35.5bn (£22.8bn) purchase of AIA and where insurance spending remains low compared with developed markets such as Britain.The company reported a stronger-than-expected 17 per cent rise in third-quarter sales in November, helped by strong growth in its flagship Asian markets. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tags: NULLlast_img read more

US mourns after Congresswoman shooting

first_img KCS-content More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Sunday 9 January 2011 11:09 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Share Show Comments ▼ US mourns after Congresswoman shooting center_img A MOMENT of silence will be held across America today following the shooting of congresswoman Gabrielle Giffords, in an attack which left six dead and 14 wounded. The American flag flew at half mast on the US Capitol building in Washington to mourn the dead, after gunman Jared Loughner opened fire in Tucson, Arizona. Giffords was last night said to be responding well to treatment after emergency surgery. whatsapp whatsapp Tags: NULL last_img read more

RBS hit with £2.8m FSA fine over complaints

first_imgTuesday 11 January 2011 6:03 am The Royal Bank of Scotland (RBS) and its NatWest subsidiary have been fined £2.8m for poor handling of customer complaints. The Financial Services Authority (FSA) imposed the fine, finding there was an “unacceptably high risk” that the customers had been treated unfairly.Failings identified included poor and slow dealing with complaints.RBS accepted its performance on complaints handling had been poor.The company said: “We recognise the importance of complaint handling for our customers and are focused on addressing the root causes of complaints.” More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.com John Dunne whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition Sharecenter_img whatsapp RBS hit with £2.8m FSA fine over complaints Show Comments ▼ Tags: NULLlast_img read more

House prices and mortgage approvals drop in January

first_img Tags: NULL KCS-content HOUSE prices and mortgage approvals both fell in the first month of 2011 sparking fears of a sluggish year for the property market, according to closely watched data published yesterday. Mortgage lender Nationwide, the first to publish figures for January, indicated that house prices declined by a seasonally adjusted 0.1 per cent last month after December’s 0.4 per cent rise. Prices were 1.1 per cent lower last month compared to January last year, producing an average house price of £161,602. This is £1,161 lower than December’s average and takes house prices back to below their September 2009 level. “The property market entered 2011 with a whimper rather than a bang,” said Nationwide chief economist Robert Gardner. He added that the outlook remained “highly uncertain”.But, its data suggested that the pace of decline appeared to be stabilising as the three-month decline in prices, which smoothes out monthly price volatility, eased to 0.5 per cent in January from one per cent in December.Meanwhile, the Bank of England said the number of mortgages approved for house purchases showed a sudden dip in December to their lowest level since March 2009. There were 42,563 approvals, showing a relatively sudden dip of nearly 5,000 from the previous month. Analysts said that December’s drop may have been exacerbated by harsh weather. More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Share Tuesday 1 February 2011 8:42 pm Show Comments ▼ whatsapp whatsapp House prices and mortgage approvals drop in January last_img read more

City revolts over bill for bust firms

first_img whatsapp Share KCS-content whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndoBetterBe20 Stunning Female AthletesBetterBeUndoBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeUndoLiver HealthAdvertisement 1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndo City revolts over bill for bust firms Tags: NULL LEADING City investment management and stockbroking groups were yesterday in open revolt about plans for them to pay £233m to a controversial compensation fund after the collapse of the financial products seller Keydata. There was a growing feeling last night that prudent firms – from tiny blue-blooded Mayfair fund managers to giants such as BlackRock – were being unfairly hammered for the sins of a few, entirely unrelated players in very different financial industries.The Association of Private Client Investment Managers (Apcims), whose 180 members include JP Morgan Cazenove as well as Evolution and Brewin Dolphin, called a meeting to discuss the possibility of refusing to pay into the Financial Services Compensation Fund (FSCS). One source said: “Some members are appalled at being called upon to fund this bailout. They feel they have nothing to do with the type of firm that got into trouble.”Sources also said that the Investment Management Association (IMA), whose members manage £3.4 trillion, is considering challenging the decision to levy its members in the courts. Its members include firms such as Aberdeen Asset Management, Aviva and Odey Asset Management.One source said that the IMA, which feels there are issues relating to who else should contribute towards the cost of Keydata, will take a cold-hearted decision as to whether to challenge the compensation levy through a judicial review. The IMA has engaged lawyers on the issue in recent weeks and many of its member firms have done the same.“In the end the decision will rest on a fairly cold assessment of the chances of winning a court battle,” said one IMA adviser. “There has been no decision yet as to whether to go ahead.” Those interested in disputing the levy were last night told that the IMA was “looking at challenging the payment on behalf of the investment management industry”.One source said that even if the IMA didn’t decide to adopt a legal challenge, there was no reason why some of its members might not go down that route.Of the total levy of around £450m now being raised by the FSCS, £93m will come from financial advisers and £233m will come from fund management firms. A previous interim levy of £80m was raised from intermediaries in early 2010. Under the rules of the scheme, there is a maximum £100m that can be called upon from intermediaries after which monies can be called upon from stockbrokers and investment managers.A spokesman for the FSCS acknowledged that the current compensation system might need an overhaul. “We want to find a system that everybody supports.”Liontrust Asset Management yesterday revealed it was hit with a £415,000 bill, up from £20,000. Rathbones has paid £3.6m, Brewin Dolphin £6.2m, Brooks Macdonald £545,000, Charles Stanley £2.6m, IG £4m and Evolution £1.4m. The British Insurance Brokers’ Association (BIBA) has warned that its members face a 50 per cent hike in levies. Show Comments ▼ Wednesday 2 February 2011 8:50 pmlast_img read more

Meggitt expects recovery

first_img Meggitt, which supplies flight displays and wheels to planemakers, reported a nine per cent rise in full-year underlying profit to £256m yesterday, boosted by strong growth at its civil aerospace and energy units. Revenue rose one per cent to £1.162bn, helping to fund a nine per cent dividend hike to 9.2p. The firm expects medium-term organic growth of between six and seven per cent. whatsapp Share whatsapp KCS-content Meggitt expects recovery Tuesday 1 March 2011 7:40 pm Show Comments ▼ Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Tags: NULLlast_img read more

Perform set to list on LSE in £550m IPO

first_imgThursday 10 March 2011 7:52 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia whatsapp Perform set to list on LSE in £550m IPO KCS-content Tags: NULL whatsappcenter_img DIGITAL sports media group Perform will float on the London Stock Exchange (LSE) with an expected valuation of up to £550m.Perform owns one of the largest portfolios of digital sports rights in the world, including international rights to Serie A, America’s MLS and the NBA.It will float around 25 per cent of the firm’s stock, with around £70m expected to be raised in a primary placing. A further £70m will come from a secondary placing, with management, which owns 40 per cent of the firm, standing to make around £28m.American billionaire Len Blavatnik’s Access Industries, which owns 58 per cent, will make in the region of £40m.Advising on the deal are Credit Suisse, Morgan Stanley and UBS.The firm says it will use the cash to fund acquisitions as well as organic growth.It was formed in 2007 through the merger of Premium TV and Inform Group.Its products include the international rights to the Dutch football league and Chelsea Online TV. It says the majority of its operations are business-to-business, with bookies major clients for its products. It plans to grow its consumer facing business over the next five years to make up almost half of its operations.Former Sage boss Paul Walker will join the Perform board as non-executive chairman.Blavatnik’s Access Industries also holds stakes in Warner Music and Top Up TV.EMMETT KILDUFFMORGAN STANLEYADVISING Perform on its flotation are Credit Suisse, Morgan Stanley and UBS. Leading the team for Morgan Stanley is Emmett Kilduff. He is an executive director in the bank’s corporate broking team, focusing on technology, media and telecom companies.He is responsible for building Morgan Stanley’s IPO pipeline and was part of the team that worked on the Betfair flotation. He was founder and chief executive of cmypitch.com, a business specialising in connecting entrepreneurs with early stage investors. He also spent eight years in investment banking at Credit Suisse as a director in its equity capital markets and corporate broking departments. Also on the Morgan Stanley team is Nina Weiden.Heading up the team for Credit Suisse is Alastair Blackman, working with Indy Bhattacharyya and Stuart Field.Christian Lesueur is leading the team for UBS, working alongside Christopher Smith and Affan Butt. More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Share Show Comments ▼last_img read more