Plus, Ares raises a record private credit fund and Rio Tinto stays out of the mining dealmaking frenzy
Decision follows vastly lowered target and delay in pricing
“Well-positioned businesses are pricing their IPOs above price talk and are trading well in the aftermarket”
Figure is fraction of the $25bn initially targeted by billionaire hedge fund manager
No Go! No Go! Ackman
Delay marks a setback for the billionaire hedge fund manager who hoped for one of the largest listings in history
Financial Conduct Authority proposes changes to document issuing for share sales in next phase of listings reforms
Plus, Revolut finally secures its banking licence and what the US presidential ticket means for antitrust
Shares in Lineage, which operates global network of facilities for commercial food clients, rise 3.6% on first trading day
Pershing Square USA distances itself from its CEO’s comments
Compliance FTW
An investing class left for dead after early excesses and poor performance shows signs of life
French billionaire Vincent Bolloré to split up Vivendi to boost valuations of its individual businesses
Tally falls amid dearth of IPOs and as costs of being quoted drive some companies to delist
A listing in early 2025 would be a boon to London’s otherwise lacklustre capital markets
After a peak pandemic surge, interest in the sector has dried up
Lineage Logistics is in an industry grappling with a demand slowdown as inflation-pinched consumers cut spending
A big overhang of ageing — and unsold — private tech companies has developed
Morgan Stanley, JPMorgan and Goldman Sachs set to secure top roles on fintech’s potential offering
Billionaire investor plans to use social media and Buffett-like annual meeting to connect with investors
Federal authorities are proposing to reclassify marijuana as a less dangerous drug
FCA must balance Britain’s governance reputation against boon for City that blockbuster listing would bring
Over $28bn raised in first half, almost triple the amount a year ago
Potential float would come as media conglomerate prepares for four-way split
Potential move by Hong Kong-listed group is sign of confidence in UK in wake of Labour’s landslide election victory
