Cenkos Securities Share Discussion Threads

[speedsgh] 25/7/2018 19:18

Biggest concern imo is that Cenkos appear to be underperforming when most other brokers appear to be doing very well? Is there an underlying reason for this underperformance or is it just the usual erratic flow of deals? If they struggle in relative terms when times are good, how will they fare when the fundraising market dries up? Answers on a postcard/SAE to...

[topvest] 24/7/2018 19:01

Yes, a fair point about being transparent. You never knew where things stood until results day previously. You do wonder whether the Woodford disaster is impacting deal flow, as Woodford used to buy lots of Cenkos floats. Nowadays he hasn’t got any cash to invest! Anyway, it’s always been a bit volatile here. Let’s hope they get some bigger deals away!

[its the oxman] 24/7/2018 11:38

Back to 100p, weak trading in the price, any change and whoosh, but patience required for now.

[speedsgh] 24/7/2018 09:54

Sense new CEO is keen to be more transparent than previous mgmt & manage expectations better. To be applauded imo.

[topvest] 24/7/2018 09:31

It was already priced in I guess. Results are always impacted by the larger transactions and these have been thin on the ground. Dividend will be much lower this year. Odd to give a trading update though as they haven’t done it previously.

[gostevie63] 24/7/2018 09:11

Given this morning's 'materially below' trading update, I thought they'd be down a lot more than 13%. No panic. I continue to hold.

[topvest] 24/7/2018 08:10

Yes, a tad disappointing. No big deals. At least they are profitable.

[speedsgh] 24/7/2018 07:26

Confirmation that Cenkos has been underperforming in a buoyant fundraising market. Disappointing for holders.

[cwa1] 24/7/2018 07:22

Trading Update

As reported in our AGM Statement in May, the first quarter of 2018 had been disappointing as market volatility had a significant impact upon investor sentiment. Since then the second quarter's performance has slowly improved, although several transactions which were expected to complete in June did not complete until July. At this stage, the revenue pipeline for August is encouraging and we anticipate that the second half's performance to be stronger than the first half's performance.

We have seen an improvement in our pipeline of prospective transactions for the remainder of the year, however the full year's revenue is expected to be materially below those recorded in 2017, as those revenue figures included some unusually large fees.

The Company will announce its interim results for the six month period ended 30 June 2018 together with the declaration of an interim dividend in September 2018.

[fanshaw] 20/7/2018 12:43

tanneg,

Many thanks for providing information for Cenkos holders.

[cwa1] 20/7/2018 07:40

Nice work tanneg, you've got the job in speeds absence ;-)

[tanneg] 20/7/2018 07:32

Venture Life (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the self-care market, is pleased to announce the conditional placing of up to 46,875,000 new Ordinary Shares at a price of 40 pence per Ordinary Share ("the Placing") to raise approximately £18.75 million (before expenses). The Placing has been arranged by Cenkos Securities plc in its capacity as sole bookrunner.

[speedsgh] 13/7/2018 21:01

Nice spot, tanneg. I'm going to be away for a while so nice to see someone else taking up the baton :o)

[tanneg] 13/7/2018 17:08

Joint broker to this deal as well,



Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-standing businesses in Europe and abroad, is pleased to announce a conditional placing and subscription ("Fundraising") to raise £44 million, before expenses by way of the issue of 100,000,000 ordinary shares of no par value ("New Shares") at a price of 44 pence per share (the "Issue Price"). The net proceeds of the Fundraising of approximately £42 million will allow the Company to continue to finance its diversified pipeline of royalty financing opportunities.

[speedsgh] 13/7/2018 07:52

Also a tiddler yesterday which I assume Cenkos will be acting on for Gusbourne (GUS) who are looking to raise £3-5m via an Offer for Subscription...

Proposed fundraise -

[tanneg] 13/7/2018 07:46

2 deals announced today!



Creo Medical Group plc (AIM: CREO), a medical device company focused on the emerging field of surgical endoscopy, today announces that it has conditionally raised, in aggregate, up to £48.5 million (before expenses) by way of three share placings by Cenkos Securities plc ("Cenkos") at the Placing Price of 125 pence per Ordinary Share.




The Company will raise up to £20 million in gross proceeds (approximately £19 million net of expenses) through the Placing of the Placing Shares at the Issue Price through Cenkos Securities plc ("Cenkos") and Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg"). The Placing Shares will be issued under the Company's existing authorities.

[speedsgh] 03/7/2018 12:48

Not sure if Cenkos is involved in the £5m institutional placing announced yday pm by UK Oil & Gas Investments (UKOG). Cenkos are listed as joint broker to UKOG alongside WH Ireland (joint broker/Nomad) but the announcement states that the "placing is conditional upon the terms of a placing agreement with Novum and shares being admitted to trading on AIM"?

Completion of £5 million Institutional Placing -

[speedsgh] 02/7/2018 08:47

UK stocks coverage shrinks after new research rules -

... London-based Cenkos, for example, now covers around 150 companies, according to a source familiar with the company, down from 170 in December and 195 at the end of 2016, according to its annual report. In March, it reported revenues from its research division fell 41 percent to 2.9 million pounds in 2017.

Cenkos did not respond to requests for comment...

[speedsgh] 02/7/2018 08:45

Good spot re Safe Harbour IPO on 15/3 on which Cenkos (also Nomad), Numis & Macquarie Capital all acted as joint broker helping to raise £22.7m.

[topvest] 30/6/2018 08:39

3 IPO's - Safe Harbour, Rosenblatt and RA International.

[topvest] 30/6/2018 08:36

Looking at their transactions and what's on this BB it looks like they have raised just over £400m in H1 which is not fantastic. As always, one blockbuster deal could change things, but plenty of work to do in H2.

[speedsgh] 29/6/2018 19:57

Yes, and it didn't take much time for Hipgnossis/N+1 Singer to get the placing away either, a complete contrast to their attempt in 2017. Not sure if that is any reflection on Cenkos last time round or not but it has to now be filed in the 'ones that got away' folder.

Did a bit of research this week. Plenty of primary (IPO) & secondary fundraising actvity in the market. I counted 42 IPOs announced in H1*; Cenkos involved in just 2 (Rosenblatt Group raising £43m; RA International Group raising £18.8m). Get the impression that Cenkos need to up their game as they seem to be underperforming.

* 32 out the 42 IPOs announced in H1 were announced in May/Jun.

[topvest] 29/6/2018 18:53

Still missing a big deal. Hipgnosis appears to be a lost opportunity as it was over subscribed.

[speedsgh] 29/6/2018 08:01

Further to posts 2844 (topvest) & 2845 (CWA1), RA International Group have today completed their IPO, successfully raising gross proceeds of £18.8m via a placing. Cenkos is acting as nominated adviser and broker...

Admission to Trading on AIM -

[tanneg] 28/6/2018 14:31

Placing of shares to raise £30 million by Stobart,



"The Board is pleased to announce that the Company has conditionally raised gross proceeds of approximately £30 million through a placing (the "Placing") of 21,428,572 new Placing Shares at a price of 140 pence per share. The Placing has been undertaken with new and existing institutional shareholders by Cenkos Securities PLC ("Cenkos") and Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg")