Initial Public Offering (IPO)
Facebook backer provides Hyperion ‘vital stepping stone’ towards IPO
An initial public offering is firmly back on the agenda at Hyperion after it struck a deal that sees public company investment specialist General Atlantic take a 30% stake in the international intermediary.
Hastings boss Hoffman cools talk of IPO following year of 'strong growth'
Hastings chief executive Gary Hoffman has moved to dampen speculation that his firm is manoeuvring itself to launch an initial public offering in the months ahead, but has refused to rule out a float in the long-term.
Esure lists with £1.21bn market cap
Esure has set its sights on entering the FTSE 250 Index after setting its offer price at 290p per share as it begins conditional dealings on the London Stock Exchange today.
RBS to reduce DLG stake to 49%
Royal Bank of Scotland is to place a second tranche of Direct Line Group shares on the stock market via an accelerated book build.
Esure aims for £1.14bn market cap
Esure has set its indicative price range for its proposed float at set at 240p to 310p per share.
China IPO approvals still awaiting timetable
The China Securities Regulatory Commission has yet to set a timetable for resuming IPO approvals, scotching rumours that it would start pushing through new candidates in April, an official from the securities watchdog told Xinhua news agency.
Wood will continue to hold 'vested interest' in Esure after IPO
Peter Wood is expected to remain Esure’s largest single shareholder by holding in excess of 30% of the shares following its planned float on the London Stock Exchange.
Esure confirms IPO intention as improved COR of 92.8% is chalked up
Esure chairman Peter Wood has this morning confirmed the intention of his firm to proceed with an initial public offering.
3i rumoured to be planning sale of Hyperion stake
Private equity firm 3i has refused to comment on fresh speculation that it is ready to sell its 23% stake in Hyperion.
Tune Insurance readies for IPO
Tune Insurance is trying to attract investors through its partnership with Air Asia as it looks to float on the Bursa Malaysia on 22 February.
To list or not to list? More Chinese insurers tipped to seek IPOs in 2013
Chinese insurers have started to raise money from equity issuance in the past two years as regulations and market appetite make the option more attractive, writes Andrew Tjaardstra.
Hyperion future acquisitions not dependent on IPO 'stepping stone'
Hyperion's future growth is not reliant on realising its ambitions to launch an initial public offering, according to management, which has confirmed that these plans could be on hold until next year.
AIG divests remaining holding in AIA
AIA Group has confirmed that AIG has entered into a placing agreement to sell all its ordinary shares of AIA at HK$30.30 each.
Growing SMEs: Room to manoeuvre
Small businesses are often subject to rapid change and growth, and it is essential that brokers and insurers understand how radically their risk profiles can evolve.
PICC lists on HK exchange
Chinese state-owned insurer PICC Group raised $3bn in its Hong Kong's initial public offering today.
Chinese insurers turn to equity as they approach debt ceiling
Chinese insurers are increasingly likely to favour equity issuance over incurring debt to support growth, as they get close to the debt ceiling imposed by the domestic regulator, according to Fitch.
DLG could dispose of unprofitable assets, analyst warns
Analysts at Investec have warned that Direct Line Group could offload parts of the business not delivering adequate profits in an attempt to boost performance.
PICC seeks cornerstone investors ahead of IPO
Chinese state-owned insurer PICC Group is in talks with American International Group and others to become cornerstone investors for its planned Hong Kong listing, Reuters reported.
Interview: Bill Cooper - Banking bites back
The head of global insurance at Lloyds Banking Group believes that insurance M&As are not dead and that institutions are willing and able to provide finance.
PICC IPO valuation hits $20.8bn
People's Insurance Co (Group) of China is planning a listing that will value the state-owned insurer at around $20.8bn, according to a Market Watch report.
PICC appoints legal firms for IPO preparations
Legal firms Slaughter and May, Sullivan & Cromwell and Davis Polk & Wardwell have picked up lead advisory roles as the state-owned People's Insurance Company of China gets closer to an initial public offering.
Directors lose out as DLG axe falls on senior team
NIG sales and distribution director Dave Parry is among the highest profile figures to exit Direct Line Group amid fresh redundancies as the group targets £100m in gross annual savings by the end of 2014.
Sri Lankan minister moves to appease privatisation fears over state insurer listings
State-run insurers in Sri Lanka will be listed at the Colombo Stock Exchange by 2016, it was announced in parliament.
DLG to axe 70 leadership roles
Direct Line Group is to scrap 70 senior leadership roles across the business as part of the next phase of a programme to achieve £100m in gross annual cost savings by the end of 2014.