IPO date: 21st July 2021
Stock market debut: London Stock Exchange
Ticker symbol: BPT
Offer price: 350 pence per share
Shares offered: 85 million new shares
Bridgepoint was founded in 2000 after a management buyout from NatWest Equity Partners and has assets under management of €27.4 billion. The group has 43 partners, more than 300 employees and over 170 investment professionals.
Shares surged 26% as the firm went public, opening at 440 pence per share. This took the firm’s market capitalisation to £3.6 billion. Bridgepoint raised £300 million from its IPO. …
ETF inflows for 2021 have reached $488.5 billion. Traditionally, inflows in the second half of the year tend to be greater than the first half as shown in the graph below.
IPO date: 7th July 2021
Stock market debut: London Stock Exchange
Ticker symbol: WISE
Offer price: £8 per share
Shares offered: No new shares issued as the IPO was a direct listing
2020 figures: Revenue of £421 million in 2020 and the firm has been profitable since 2017.
Wise was founded in 2010 and is one of the UK’s biggest fintech firms. The firm focuses on online money transfer services and has recently branched out by offering customer and business accounts. …
On Tuesday, China announced it would crack down on Chinese companies listing overseas, a move which could cool the current booming IPO market. Beijing’s State Council released a statement announcing it would tighten data regulations in relation to “cross-border data flows and the information security of overseas-listed companies.”
Didi Global is one of the companies under scrutiny by Chinese regulators. Didi ended trading down nearly 5% on Wednesday after plunging 20% on Tuesday. …
IPO date: 1st July 2021
Stock market debut: Nasdaq Stock Exchange
Ticker symbol: DNUT
Offer price: $17 per share
Shares offered: 29,411,765 shares
2020 figures: Revenue rose 17% to $1.12 billion, but the company reported a net loss of $60.9 million.
Krispy Kreme is popular all over the world for its doughnuts. The company was founded in America in 1937 and rapidly grew into one of the largest and most famous doughnut brands globally. Their main sources of revenue come from the sale of doughnuts and other food and drink, with their most iconic product being…
Andy Haldane, outgoing Chief Economist for the Bank of England has stated that he expects UK inflation to be nearer 4% than 3% by the end of this year. If this was to occur, inflation would be double the Bank’s target of 2%. Last week, the Bank of England Monetary Policy Committee (MPC) stated in its meeting that inflation could peak at 3% by the end of this year and thus left interest rates unchanged at 0.1%.
Haldane also warned that this would have adverse consequences for everyone in the country as well as the economy itself: “If this risk…
China cracks down on crypto — Monday
China has enhanced its crackdown on cryptocurrencies as the top three mining regions in the country have started making moves against miners. Moreover, the government reportedly met with major banks again this week to reiterate that banks cannot be involved with cryptocurrency transactions. According to the Financial Times, the country’s central bank on Monday warned several of its largest state-owned banks and Alipay to “investigate and identify” bank accounts facilitating cryptocurrency trading and block all corresponding transactions.
The Chinese government says it’s acting now because of concerns around crypto’s volatile price, and its…
UK consumer price inflation (CPI) jumped to 2.1% in May, above the Bank of England’s 2% target and its highest since July 2019, official figures showed today. This was an increase of 0.6% from April and the rise was mostly caused by the pent up demand, some of which was released in May as lockdown restrictions eased. Inflation rising too sharply is seen as a sign that the economy is running into difficulties as demand is outstripping supply.
The increase was caused by a surge in fuel costs, clothing and eating out. Fuel prices in the UK are rising at…
When the pandemic began to take hold last March and lockdowns were enforced, banks and other businesses alike had to adapt their business models quickly to ensure their employees could work from home. The financial sector has now more or less been working from home for a year and a half.
As lockdowns have begun to ease in the UK and workers are slowly being encouraged to return to offices, many banks and financial services firms have decided to stick with elements of the working-from-home model and allow their employees more flexibility. The question now remains as to whether banks…
The UK economy grew for the third month in a row, increasing by 2.3% in April, its fastest monthly growth since July last year. This was slightly below economists expectations of growth of 2.4%.
The services sector provided the biggest uplift, with output growing 3.4% during the month. Consumer-facing services surged as lockdown was eased, rising 12.7%. Retail, education and hospitality were the fastest-growing sectors, with some bars and restaurants able to begin serving customers outdoors. Spending in non-essential shops also drove significant growth as customers were allowed back into stores from mid-April in England, with clothes stores seeing a…