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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Darwen | LSE:DHP | London | Ordinary Share | GB00B2PGSY66 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 25.00 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
25/2/2008 17:48 | Bus maker Darwen floats on AIM Mon 25 Feb 2008 LONDON (SHARECAST) - Bus manufacturer Darwen Holdings said today's admission to AIM will support its strategic progress and provide greater visibility of value as the business grows. The group, which plans to develop a line of hybrid vehicles, issued 49.29m shares and has a market capitalisation of £18.48m at the current price of 37.50p. No new money has been raised. "We have strong technical know how, design innovation and engineering excellence within the company, and a strong reputation within the industry," said chief executive Andrew Brian, "The admission will further cement this reputation with our business partners and customers, supporting our goal to become a true leader in passenger vehicle design and assembly," he added. Cenkos Securities is acting as nomad and broker to the company | crosswire | |
25/2/2008 15:44 | One could probably buy into this just on the reputation of the founders. | topdoc | |
25/2/2008 15:25 | richaims- thank you for pointing that out. | aukley | |
25/2/2008 14:34 | IG say when a stock is floated they assess it for a week before deciding whether to offer a market in it or not . | richaims | |
25/2/2008 14:11 | no float price mentioned in the admission doc, but with 2/3's the shares held...it could move quickly on any buying.... | sportbilly1976 | |
25/2/2008 13:59 | Aukley - see the bottom of MTG's header . | richaims | |
25/2/2008 13:55 | I tried to put it on a monitor page & Downing Hlthcare came up for dhp Any ideas please? | aukley | |
25/2/2008 13:51 | I've emailed IG asking them to offer a market in Darwen . | richaims | |
25/2/2008 13:45 | I'd expect cenkos will have a report prepared to coinside with the admission but not sure when its likely to be made public, lets hope soon. | wishful_thinking | |
25/2/2008 13:03 | Does anyone know of any brokers reports, etc. on this or is it too early? | iggster2000 | |
25/2/2008 12:59 | topdoc - I've not seen the official detail of the float price. On advfn Level 2, the 'opening price' is shown as 30p. That refers of course to the price at which trading opened at 8am.. which may or may not have been the float price. I daresay someone will post it here sometime today - in which case I'll add it to the header. | m.t.glass | |
25/2/2008 12:52 | What was the flotation price please | topdoc | |
25/2/2008 12:49 | This is the photo used by the Manchester Evening News in their report of today's float. The chairman Roy Stanley seated, ceo Andrew Brian standing. | m.t.glass | |
25/2/2008 11:32 | MT, Bought 20,000 today, I remember when it was East lancashire coach builders and it was a good business around at that point ;) | cr4zyness | |
25/2/2008 11:24 | "..is not raising money from the markets, but is floating in order to raise public and investor awareness.." Does this suggest they WILL be calling for cash from the market, once they've signed up enough interested investors and got themselves known? Or does it suggest that, from the outset, they view themselves as becoming a takeover target? | m.t.glass | |
25/2/2008 11:18 | Business Darwen Group chairman Roy Stanley and CEO Andrew Brian Bus maker AIM-ing high Chris Barry 25/ 2/2008 LANCASHIRE bus builder Darwen Holdings , is defying the uncertainty in financial markets by joining the Alternative Investment Market today with a market value of around £16m. The Blackburn-based company, which is developing the next generation of low emission buses using diesel electric hybrid technology, is not raising money from the markets, but is floating in order to raise public and investor awareness. Chief executive Andrew Brian explained: "We are well capitalised at the moment - we are a new organisation. The opportunity for capital growth is there as we are looking for acquisitions at home and abroad." Darwen was only created last August. Shareholders were its management team and three private equity houses - Barclays Capital, Aberdeen Asset Management and Hargreaves Hale. It had no operating business until August when it swooped for the long-standing East Lancashire Coachbuilders, and then in November for Leyland Product Developments a specialist design, manufacturing and product development consultancy. The turnover of the two businesses, which have since been brought together on one site, will be around £30m this year, Mr Brian said. The company was founded by Roy Stanley, chairman and founder of the Tanfield Group, which makes zero-emission electrical vehicles. Mr Brian, 42, is an experienced general manager with manufacturing businesses. Demand for Darwen's vehicles is expected to rise in line with the government's strategy to increase the use of public transport. Pressures to reduce carbon emissions also predicted to provide a boost. It is already working with Transport for London on a hybrid low-emissions vehicle. Mr Brian said the company was investing up to £8m in its manufacturing facility. He added: "We are delighted to be joining AIM, which will support our growth and strategic progress. "It will further raise our profile with commercial partners and customers, and will assist us in our goal to become a true leader in the design, development and production of quality passenger vehicles." | crosswire | |
25/2/2008 10:47 | and from Northeast Journal today (in a bigger piece about Tanfield expansion) "...Today he floats another company, Darwen, on the AIM. He bought the Blackburn company formerly known as East Lancashire Coachbuilders out of administration in the summer. He has laid off 100 of its 350 staff and doubled production. He is floating the company with a market capitalisation of £15m and plans rapid organic and acquisitive expansion. He had considered bringing the company to the North East but managed instead to turn business around on the existing site..." "rapid organic and acquisitive expansion.." | m.t.glass | |
25/2/2008 10:30 | Aim debut for hybrid bus maker By James Wilson Published: February 22 2008 18:03 A company behind thousands of Britain's double-deckers is set for a stock market debut today, hoping bus operators' need to cut fuel costs can spur interest in its plans to produce more hybrid-engine vehicles. Darwen Holdings bought historic East Lancashire Coach Builders, which was set up in 1934, and other assets out of administration last year and is set to be admitted to Aim worth about £15m. The executive chairman and majority owner is Roy Stanley, known to Aim investors as the chairman at Tanfield, the builder of electric vehicles. Tanfield's shares priced at 8p on flotation on Aim in 2003 have since risen to 88p giving a market capitalisation of more than £250m. Mr Stanley says buses have been made in "a very crafted way" but says Darwen will cut costs by adopting a "more automotive approach" with more outsourcing and standardising of production. "I have felt for some time there is a great opportunity to do something quite radically different in the bus industry," he says. In November, Darwen bought Leyland Product Development, a chassis design company that Darwen says will help it derive higher margins from producing its own integrated chassis and bodywork. It has previously bought chassis from the likes of Volvo and Scania. About 1,000 buses are sold in the UK each year, with the market leaders being Alexander Dennis and Wrightbus. Darwen produced 170 buses last year but has increased production to a rate of about six per week and hopes to make 10 a week by the end of this year, when the company is expected to make pre-tax profits of about £2.4m from sales of some £30m. The Blackburn-based company is expected shortly to move into bigger premises. Staff levels have fallen from 350 to 250 under Darwen's ownership as the company seeks greater productivity. Darwen says there may be scope for some collaboration with Tanfield on smaller vehicles, but says double-deckers will at best be low-emission, rather than zero emission, with an emphasis in the next decade on cleaner diesel engines with hybrid power. The company eventually expects most sales to come from hybrids and is working on their development with Transport for London and two bus operators. Fuel economies will also come from the increasing use of lighter composite materials. Andrew Brian, chief executive, says Darwen can increase sales as the biggest bus owners start to renew their fleets, a decade or so after the last round of significant investment. The Olympics in London may produce extra demand for vehicles while legislation to make getting on to buses easier for disabled passengers should also increase sales. Copyright The Financial Times Limited 2008 | crosswire | |
25/2/2008 10:16 | MTG - well done on setting this up so quickly. Will watch from the sidelines for the time being but will follow with great interest. | leighbarton | |
25/2/2008 10:15 | mmmm profit taking soon, then we will see | ivor whopper | |
25/2/2008 10:08 | Up 12.5% in first two hours trading! How far will this go? damn, should have been up early this morning.. | dr fillip strange | |
25/2/2008 08:32 | What was the float price here? | stegrego | |
25/2/2008 01:19 | Darwen catches bus to market :- | richaims |
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