London Stock Exchange Share Discussion Threads

[broadwood] 22/8/2014 15:27

The issue is being offered on the basis of three new shares for every 11 owned at a deeply discounted price of 1295p a share. LSE shares dipped 16p to 1989p on the news.

The vast bulk of the £25 million the LSE is paying in fees will go to the underwiters of the issue of whom there are no fewer than eight - Barclays, RBC Capital Markets, Deutsche Bank, JPMorgan Cazenove, Banca IMI, Banco Santander, HSBC and Mitsubishi UFJ Securities

[broadwood] 22/8/2014 14:55

Doesn't happen very often - company announce a rights issue and the price goes up.

[broadwood] 22/8/2014 09:43

Price held up well.

[broadwood] 22/8/2014 08:22

London stock exchange group reported a 20 per cent increase in overall revenue (Source: Getty)




The London Stock Exchange Group (LSE) has reported a 16 per cent increase in adjusted income to £323.9m for the three months ended 30 June 2014, with the company hailing a resurgence in the initial public offering (IPO) market.

In results which the group said showed "strong financial performance", it also reported a 20 per cent increase in overall revenue to £299.9m and a 36 per cent increase in operating profit to £102m.

A total of 78 issuers joined the market during the period, an increase on 33 for the same period last year, reflecting strong IPO activity. The total capital raised rose from £6.1bn to £20bn.

In June the FTSE 100 company agreed a $2.7bn (£1.6bn) deal to buy Russell Investments, the American index compiler and asset manager. Today, the company announced an underwritten share issue intended to raise £938m for the acquisition of Russell, which will make the LSE the second-largest provider of exchange-traded funds in the US, and the third-largest in the world.

Chief executive Xavier Rolot said:


We continue to make good progress, delivering a strong financial performance this quarter with an increase in operating profit, reflecting organic growth and inorganic revenues across the Group.



We have seen a resurgence in the IPO market with an increase in both the number of companies joining our markets and the amount of money raised. While the summer period is seasonally slower, our diversified business is very well positioned for further growth.



The proposed acquisition of Russell Investments will help to expand the global footprint of the Group, particularly in the key U.S. market.

Earlier in the week the LSE unveiled new board member Sharon Bowles who has joined the company as non-executive director. The company said Bowles, a former member of the European Parliament who served on the economic and monetary affairs committee, will bring "extensive knowledge of European and regulatory trends" to the board.

[broadwood] 22/8/2014 07:53

London Stock Exchange Group is to raise around £938m through a fully underwritten three-for-11 rights issue to part-fund its acquisition of Frank Russell Co.

The rights issue will result in the issue of 74,347,813 new ordinary shares (representing approximately 27.3% of the existing issued share capital and 21.4% of the enlarged issued share capital immediately following completion.
- See more at:

[broadwood] 22/8/2014 07:42

London Stock Exchange Group's first quarter revenues rose by 20% overall and 12% on an organic and constant currency basis, with growth across nearly all business segments.

Total revenues were £299.9m while asdjusted profit before tax was up 26% at £129.8m(Q1 FY 2014: £103.1m). Profit before tax rose to £83.6m (Q1 FY 2014: £59.7m)

Adjusted basic EPS was up 18% at 31.9 pence (Q1 FY 2014: 27.0 pence); basic EPS of 19.2 pence (Q1 FY 2014: 13.1 pence).

Chief executive Xavier Rolet said: "We continue to make good progress, delivering a strong financial performance this quarter with an increase in operating profit, reflecting organic growth and inorganic revenues across the Group. We have seen a resurgence in the IPO market with an increase in both the number of companies joining our markets and the amount of money raised. While the summer period is seasonally slower, our diversified business is very well positioned for further growth.

"As previously stated, the proposed acquisition of Russell Investments will help to expand the global footprint of the Group, particularly in the key US market. This is a strong strategic acquisition for the group, which will accelerate development in one of our core strengths, intellectual property, and offers significant growth potential.

"We continue to make good progress on obtaining the necessary approvals to complete the acquisition and to deliver the financial benefits of the transaction to the group."

[broadwood] 22/8/2014 07:10

Strong interims this morning - but rights issue to acquire Frank Russell.

Probably expected - an opportunity to acquire more at an attractive price.

[jonojubb] 28/7/2014 16:07

What's a good entry point? I see this going up to £20 soon enough

[broadwood] 16/7/2014 09:45

Bought some at the off.

[tiptv1] 11/7/2014 13:57

TipTV's Zak Mir believes LSE will outperform. Watch here:

[sirshagalot] 23/5/2012 11:06

a return to £8 on cards

[wotreally] 19/1/2012 13:25

Looks like they may have got it right, seems as if its about to break out from a trading range.

[texas tea] 31/12/2011 22:25

Telegraph share tips for 2012

[jbm] 04/10/2011 12:52

Hi,

There is a new ADVFN Wiki page for this company. It is pretty basic and needs expanding on. Anyone can edit it.



Apologies if this has been posted before.

Cheers,

Jon

[arja] 17/8/2011 10:55

I would be happy to get £9 now ! Bad news this morning I see .

[arja] 09/8/2011 09:29

so much for a t/o . they could get it now at about £10 I suppose !