London is a leading international stock exchange that offers unique benefits to companies seeking a public listing. It has a global investor community and is the most international equity market in the world. Over 60 companies listed on the London exchange operate in over 115 countries. The exchange also connects investors around the world, including large institutional investors from Asia, Europe, the Americas, Africa and the Middle East. In the first quarter of 2014, London accounted for a fifth of the nearly $42 billion raised globally through initial public offerings.
Based on our direct conversations with stockbrokers, NOMADs, auditors and lawyers, an LSE AIM listed company valued at $100m would need to have (ultra conservatively) $8–10m in revenue and $0–1m in EBITDA.
https://jason.com.ng/a-120-150m-ipo-for-iroko-in-2021/
LSE AIM - The Leading International Growth Market - Irokotv 2019Jason Njoku
Based on our direct conversations with stockbrokers, NOMADs, auditors and lawyers, an LSE AIM listed company valued at $100m would need to have (ultra conservatively) $8–10m in revenue and $0–1m in EBITDA.
https://jason.com.ng/a-120-150m-ipo-for-iroko-in-2021/
An investment bank discusses how companies can access international capital through London's public markets. It examines factors to consider when choosing a financial market such as an issuer's characteristics, regulatory requirements, and international indexes. The document also provides two case studies, Telefonica and Mota-Engil Africa, and discusses London's capital markets and the benefits they provide to companies seeking international investment.
This document summarizes and compares several top forex brokers. It discusses IG Group, the largest CFD dealer based on trading revenue; CMC Markets which offers competitive spreads and advanced features; OANDA, one of the earliest pioneers in retail forex with a $0 minimum account; London Capital Group which provides access to various assets with low spreads and no commissions; X-Trade Brokers which is regulated in the UK and has better than average forex spreads; Forex.com which is one of the first forex brokers and has acquired other businesses; and Pepperstone, an Australian broker offering competitive platforms with a low $200 minimum deposit.
Forexia, a foreign exchange forecasting and analysis service, was acquired by Hilfe Communications, a German forecasting company. Hilfe plans to expand Forexia's client base in the US and Europe and add fixed income research to the service. Hilfe will take over production of Forexia's forecasts from its founder Charles Ranald, who left the company, and make the forecasts available online through its new subsidiary Hilcom.com. The acquisition allows Hilfe to expand into the foreign exchange market where it previously did not have a dedicated forex component.
The document summarizes different business models in the food delivery industry in Europe, including online supermarkets, prepared grocery delivery services, restaurant booking platforms, and companies that provide both delivery logistics and prepared meals. It finds that unit economics vary significantly between models and market conditions, with software-only platforms having the highest margins around 50% but full-service logistics models facing higher operating risks and requiring scale and density to be profitable. Public companies like Just Eat and Takeaway.com have performed well through consolidation, while challenges remain for players seeking profitability across different markets and models.
Borsa İstanbul Derivatives Market (VIOP) Q3 2015 PresentationBorsa İstanbul
The document provides an overview of the Borsa Istanbul Derivatives Market (VIOP) which is the leading derivatives marketplace in the region, offering futures and options contracts on various asset classes. Some key points:
- Trade volume at VIOP increased 32% in the first nine months of 2015 compared to the same period in 2014. Total number of contracts traded increased 49%.
- 64% of daily trade volume is from retail investors with over 100,000 accounts. Foreign investor participation nearly doubled to 29% in 2015.
- Futures and options are offered on stocks, equity indices, currencies, commodities, and other assets. The BIST 30 index futures are the most liquid contracts.
Based on our direct conversations with stockbrokers, NOMADs, auditors and lawyers, an LSE AIM listed company valued at $100m would need to have (ultra conservatively) $8–10m in revenue and $0–1m in EBITDA.
https://jason.com.ng/a-120-150m-ipo-for-iroko-in-2021/
LSE AIM - The Leading International Growth Market - Irokotv 2019Jason Njoku
Based on our direct conversations with stockbrokers, NOMADs, auditors and lawyers, an LSE AIM listed company valued at $100m would need to have (ultra conservatively) $8–10m in revenue and $0–1m in EBITDA.
https://jason.com.ng/a-120-150m-ipo-for-iroko-in-2021/
An investment bank discusses how companies can access international capital through London's public markets. It examines factors to consider when choosing a financial market such as an issuer's characteristics, regulatory requirements, and international indexes. The document also provides two case studies, Telefonica and Mota-Engil Africa, and discusses London's capital markets and the benefits they provide to companies seeking international investment.
This document summarizes and compares several top forex brokers. It discusses IG Group, the largest CFD dealer based on trading revenue; CMC Markets which offers competitive spreads and advanced features; OANDA, one of the earliest pioneers in retail forex with a $0 minimum account; London Capital Group which provides access to various assets with low spreads and no commissions; X-Trade Brokers which is regulated in the UK and has better than average forex spreads; Forex.com which is one of the first forex brokers and has acquired other businesses; and Pepperstone, an Australian broker offering competitive platforms with a low $200 minimum deposit.
Forexia, a foreign exchange forecasting and analysis service, was acquired by Hilfe Communications, a German forecasting company. Hilfe plans to expand Forexia's client base in the US and Europe and add fixed income research to the service. Hilfe will take over production of Forexia's forecasts from its founder Charles Ranald, who left the company, and make the forecasts available online through its new subsidiary Hilcom.com. The acquisition allows Hilfe to expand into the foreign exchange market where it previously did not have a dedicated forex component.
The document summarizes different business models in the food delivery industry in Europe, including online supermarkets, prepared grocery delivery services, restaurant booking platforms, and companies that provide both delivery logistics and prepared meals. It finds that unit economics vary significantly between models and market conditions, with software-only platforms having the highest margins around 50% but full-service logistics models facing higher operating risks and requiring scale and density to be profitable. Public companies like Just Eat and Takeaway.com have performed well through consolidation, while challenges remain for players seeking profitability across different markets and models.
Borsa İstanbul Derivatives Market (VIOP) Q3 2015 PresentationBorsa İstanbul
The document provides an overview of the Borsa Istanbul Derivatives Market (VIOP) which is the leading derivatives marketplace in the region, offering futures and options contracts on various asset classes. Some key points:
- Trade volume at VIOP increased 32% in the first nine months of 2015 compared to the same period in 2014. Total number of contracts traded increased 49%.
- 64% of daily trade volume is from retail investors with over 100,000 accounts. Foreign investor participation nearly doubled to 29% in 2015.
- Futures and options are offered on stocks, equity indices, currencies, commodities, and other assets. The BIST 30 index futures are the most liquid contracts.
Ignite your london stock exchange aim listingAlan Scrase
IGNITE your…. London Stock Exchange
Presenter – Lucy Tarleton, London Stock Exchange Director, responsible for London & the South of England, will be presenting on
“Aim - where ideas take off”
Aim is regarded by advisers, investors and companies as the most successful growth market in the world, having helped thousands of ambitious companies raise the capital they need to fund their growth and development. Lucy will provide an analysis of the benefits of flotation and the challenges companies will face on their journey to IPO, highlighting AIM's role in funding growth companies and its increasing importance for access to capital.
In her role, Lucy provides support and guidance to private companies who are considering floating as well as managing the London Stock Exchange’s relationship with over 850 Main Market and AIM quoted companies and the relationship with the corporate advisory community in the region.
This document summarizes the new members that recently joined the Business Council of Mongolia (BCM) in December 2011. Thirteen new members from a variety of industries and services are listed, including law firms, investment companies, brokerage firms, engineering companies, consulting firms, and more. The new members provide services across Mongolia in areas like mining, real estate, finance, construction, hospitality, and legal/consulting work. The addition of these thirteen organizations further expands the network and representation of the BCM.
1. The document is a keynote speech by the Canadian Ambassador to Mongolia at the 14th Annual NAMBC Investors Conference in Ulaanbaatar, Mongolia.
2. The Ambassador discusses the growing commercial relationship between Canada, the US, and Mongolia, with increasing trade, exports, and Canadian investment in Mongolia.
3. The Ambassador also outlines other areas of growing cooperation between the countries: supporting Mongolia's democratic development, development assistance programs, security cooperation, and growing people-to-people contacts.
4. While optimistic about Mongolia's economic potential, the Ambassador cautions that Mongolia faces challenges around infrastructure development and improving governance, which will be important to address
This document summarizes news from the Business Council of Mongolia newsletter. It reports that GE signed a deal to provide turbines for Mongolia's first wind farm project. It also discusses Ivanhoe Mines working to secure a power source for its Oyu Tolgoi copper mine and moving forward with arbitration against Rio Tinto. Several mining companies had positive exploration results from drilling programs. New road projects were opened for bidding and an international law firm opened an office in Mongolia.
The document is a newsletter from the Business Council of Mongolia that provides news highlights on business, economic, and political issues in Mongolia and internationally. Some of the key stories covered include: progress being unclear on the planned IPO of Mongolia's Tavan Tolgoi coal mine; the Mongolian government greenlighting a planned 600-megawatt coal power plant by Prophecy Coal; and Xanadu Mines planning to continue drilling its metallurgical coal exploration project through the winter months.
AREVA presented its offer for involvement in Mongolia's mining industry. AREVA is a global leader in nuclear energy and mining uranium. It has over 18 years of partnership with Mongolia, including exploration activities and social responsibility projects. AREVA outlined its mining business and operations around the world. It also emphasized its commitment to health and safety, respecting local communities, environmental stewardship, and social development initiatives. AREVA believes it can help meet growing demand for uranium while maintaining responsible practices.
The document discusses the authorization and accreditation process for the International School of Ulaanbaatar, the only fully accredited international school in Mongolia. The school undergoes a rigorous 24-30 month self-study and review process based on standards in seven domains including student learning, teaching and learning, governance, faculty, learning support, school culture, and operations. An external visiting team evaluates how well the school meets the standards to determine accreditation.
Randolph Koppa, President of the Trade and Development Bank of Mongolia, outlined Mongolia's investment needs and opportunities from 2014 to 2018. He estimated total investment needs of $55 billion to $87 billion across key sectors like mining, infrastructure, urban development and business. Foreign participation will be critical as domestic sources are limited. Koppa concluded that Mongolia is facing a new economic reality with slower Chinese growth and stressed the need to develop mining and industrialization in parallel while affirming its third neighbor policy to attract foreign investment from all neighbors.
1) Aspire Mining Limited is an Australian mining company focused on coal mining projects in Mongolia, including the 100% owned Ovoot Coking Coal Project.
2) The Ovoot project contains a 330 million tonne JORC-compliant coal resource with potential for further growth. The coal is a premium coking coal suitable for steelmaking.
3) Aspire is fully funded to complete a pre-feasibility study for an open-pit mine at Ovoot with a production target of 11-12 million tonnes per year
This corporate presentation from Entrée Gold provides:
1) An overview of Entrée Gold's global portfolio of copper and gold assets, including its interest in the Oyu Tolgoi mining project in Mongolia and the Ann Mason copper-gold project in Nevada.
2) A discussion of Entrée Gold's investment thesis, which is focused on developing a global portfolio of high-quality assets and leveraging opportunities in the copper market.
3) Key details about Entrée Gold, including its stock exchange listings, shares outstanding, cash position, analyst coverage, and management team.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several business deals and developments in Mongolia, including Mongolian Energy completing a key road for coal transport, Just Agro introducing global food safety standards, the launch of a new domestic airline called Mongolian Airlines, XacBank receiving funding from FMO to support SME lending, Erdene raising funds for gold exploration, and Noble Group partnering with Aspire Mining to market Mongolian coking coal. It also briefly mentions news related to the Mongolian economy and politics.
The document outlines a quality assurance training program presented by Barrie Evans of the Business Council of Mongolia. The overall goal of the program is to accelerate sustainable private sector growth in Mongolia by enhancing the private sector's role in economic development. The program will provide training in areas like quality management, food safety, internal auditing, and certification courses over 5 months in 2011-2012. It includes a schedule of courses to be offered each month that will help strengthen private sector capacity and competitiveness in Mongolia.
The document is a newsletter from the Business Council of Mongolia that includes the following highlights:
- Several mining companies announced significant mineral resource estimates at their Mongolian properties, including Haranga Resources reporting 32.8 million tons of iron ore and Moly World reporting 203.4 million tons of molybdenum ore.
- Power remains an issue for the Oyu Tolgoi mine as agreements have not yet been reached to import electricity from China, potentially delaying production timelines.
- South Korea wants at least a 10% stake in the Tavan Tolgoi coal mine project and does not think the previously discussed 36% stake is sufficient.
- The newsletter also provides various other
The Economic Policy and Competitiveness Research Center (EPCRC) was established in 2010 by Mongolia's largest companies to conduct research on issues affecting Mongolia's economic competitiveness. EPCRC publishes an annual Mongolia Competitiveness report in partnership with the Institute for Management Development, analyzing Mongolia's performance on 327 criteria compared to 58 nations. While mining is a major driver of Mongolia's economy, it also risks issues like "Dutch disease" and lack of economic diversification if not managed properly. EPCRC advocates for policies to improve legal predictability, workforce skills, monetary policy, and encourage value addition and innovation in Mongolia to strengthen competitiveness beyond mining.
This document discusses Mongolian mining investment opportunities in 2010. It provides background on why Mongolia is a good place to invest, noting its large land area, stable democracy, strategic location near China, educated workforce, and abundance of natural resources. Current Mongolian mining companies are experienced with western exploration techniques. Partnering with local companies provides advantages like government and community relations assistance. The company Altai Gold LLC controls 25 exploration licenses across Mongolia, including for gold, coal, and copper-gold projects. It seeks further investment for exploration and development and eventual capital market participation. Mining in Mongolia does carry risk, as with any emerging market.
Xanadu Mines is exploring for copper-gold porphyry deposits in Mongolia. Its flagship project is the Kharmagtai project, which hosts multiple mineralized zones over a 2km area. Recent drilling at Kharmagtai intersected a new discovery called East Altan Tolgoi, with hole KHDDH343 returning a 241.7m interval grading over 1% copper equivalent. Xanadu plans to expand on this new discovery through further drilling to extend mineralization along strike and at depth. The Kharmagtai project has potential for additional discoveries under shallow cover based on its similarities to productive porphyry belts in Australia and elsewhere.
The document summarizes business and economic news from Mongolia. It discusses several mining projects and disputes between Rio Tinto and the Mongolian government over profits from the Oyu Tolgoi copper mine. It also mentions Anglo American entering the Mongolia market, restrictions placed on SouthGobi's assets, and presentations made at the Coal Mongolia 2013 forum calling for cooperation between the public and private sectors in Mongolia.
This document summarizes trends in Mongolia's real estate market between 2007-2014. It shows that property prices increased significantly until the late 2000s but declined in 2009 due to the global financial crisis. Prices have since recovered and Mongolia's luxury property prices and yields rank competitively compared to other emerging markets. Government policies like subsidized mortgages have supported growth in the housing sector while rising incomes have increased demand. The retail property market has also expanded, especially in the capital city of Ulaanbaatar, though rental rates vary by location. The government has outlined plans to develop new commercial centers to accommodate future population growth.
VFB 2013 - Your route to an AIM listing - London Stock ExchangeScience City Bristol
This document provides an overview of listing on the London Stock Exchange, specifically the AIM market. Some key points:
- AIM provides growing companies access to significant capital and liquidity to fund expansion. Over 3,400 companies have raised £82 billion total through AIM listings.
- Technology and life science companies are well represented on AIM, with 222 technology companies raising £3.3 billion. Recent IPOs include companies developing cloud software, medical devices, and sports technology.
- The listing process involves appointing an advisor, due diligence, and a placing of shares. Ongoing costs include compliance and investor relations but provide benefits like visibility and an exit option.
- Successful
The document summarizes why the London Stock Exchange is a premier listing choice for companies seeking to raise capital. Some key points include:
- It enables companies to raise capital from a diverse global investor base and gain access to the largest pool of international equity assets in Europe.
- London has the largest number of listed companies of any exchange in Europe and is the largest IPO market. It also has the most liquidity and highest trading volumes.
- Companies listed in London gain exposure to global institutional investors and analysts, improving their visibility and liquidity. This is particularly beneficial for sectors like mining.
Ignite your london stock exchange aim listingAlan Scrase
IGNITE your…. London Stock Exchange
Presenter – Lucy Tarleton, London Stock Exchange Director, responsible for London & the South of England, will be presenting on
“Aim - where ideas take off”
Aim is regarded by advisers, investors and companies as the most successful growth market in the world, having helped thousands of ambitious companies raise the capital they need to fund their growth and development. Lucy will provide an analysis of the benefits of flotation and the challenges companies will face on their journey to IPO, highlighting AIM's role in funding growth companies and its increasing importance for access to capital.
In her role, Lucy provides support and guidance to private companies who are considering floating as well as managing the London Stock Exchange’s relationship with over 850 Main Market and AIM quoted companies and the relationship with the corporate advisory community in the region.
This document summarizes the new members that recently joined the Business Council of Mongolia (BCM) in December 2011. Thirteen new members from a variety of industries and services are listed, including law firms, investment companies, brokerage firms, engineering companies, consulting firms, and more. The new members provide services across Mongolia in areas like mining, real estate, finance, construction, hospitality, and legal/consulting work. The addition of these thirteen organizations further expands the network and representation of the BCM.
1. The document is a keynote speech by the Canadian Ambassador to Mongolia at the 14th Annual NAMBC Investors Conference in Ulaanbaatar, Mongolia.
2. The Ambassador discusses the growing commercial relationship between Canada, the US, and Mongolia, with increasing trade, exports, and Canadian investment in Mongolia.
3. The Ambassador also outlines other areas of growing cooperation between the countries: supporting Mongolia's democratic development, development assistance programs, security cooperation, and growing people-to-people contacts.
4. While optimistic about Mongolia's economic potential, the Ambassador cautions that Mongolia faces challenges around infrastructure development and improving governance, which will be important to address
This document summarizes news from the Business Council of Mongolia newsletter. It reports that GE signed a deal to provide turbines for Mongolia's first wind farm project. It also discusses Ivanhoe Mines working to secure a power source for its Oyu Tolgoi copper mine and moving forward with arbitration against Rio Tinto. Several mining companies had positive exploration results from drilling programs. New road projects were opened for bidding and an international law firm opened an office in Mongolia.
The document is a newsletter from the Business Council of Mongolia that provides news highlights on business, economic, and political issues in Mongolia and internationally. Some of the key stories covered include: progress being unclear on the planned IPO of Mongolia's Tavan Tolgoi coal mine; the Mongolian government greenlighting a planned 600-megawatt coal power plant by Prophecy Coal; and Xanadu Mines planning to continue drilling its metallurgical coal exploration project through the winter months.
AREVA presented its offer for involvement in Mongolia's mining industry. AREVA is a global leader in nuclear energy and mining uranium. It has over 18 years of partnership with Mongolia, including exploration activities and social responsibility projects. AREVA outlined its mining business and operations around the world. It also emphasized its commitment to health and safety, respecting local communities, environmental stewardship, and social development initiatives. AREVA believes it can help meet growing demand for uranium while maintaining responsible practices.
The document discusses the authorization and accreditation process for the International School of Ulaanbaatar, the only fully accredited international school in Mongolia. The school undergoes a rigorous 24-30 month self-study and review process based on standards in seven domains including student learning, teaching and learning, governance, faculty, learning support, school culture, and operations. An external visiting team evaluates how well the school meets the standards to determine accreditation.
Randolph Koppa, President of the Trade and Development Bank of Mongolia, outlined Mongolia's investment needs and opportunities from 2014 to 2018. He estimated total investment needs of $55 billion to $87 billion across key sectors like mining, infrastructure, urban development and business. Foreign participation will be critical as domestic sources are limited. Koppa concluded that Mongolia is facing a new economic reality with slower Chinese growth and stressed the need to develop mining and industrialization in parallel while affirming its third neighbor policy to attract foreign investment from all neighbors.
1) Aspire Mining Limited is an Australian mining company focused on coal mining projects in Mongolia, including the 100% owned Ovoot Coking Coal Project.
2) The Ovoot project contains a 330 million tonne JORC-compliant coal resource with potential for further growth. The coal is a premium coking coal suitable for steelmaking.
3) Aspire is fully funded to complete a pre-feasibility study for an open-pit mine at Ovoot with a production target of 11-12 million tonnes per year
This corporate presentation from Entrée Gold provides:
1) An overview of Entrée Gold's global portfolio of copper and gold assets, including its interest in the Oyu Tolgoi mining project in Mongolia and the Ann Mason copper-gold project in Nevada.
2) A discussion of Entrée Gold's investment thesis, which is focused on developing a global portfolio of high-quality assets and leveraging opportunities in the copper market.
3) Key details about Entrée Gold, including its stock exchange listings, shares outstanding, cash position, analyst coverage, and management team.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several business deals and developments in Mongolia, including Mongolian Energy completing a key road for coal transport, Just Agro introducing global food safety standards, the launch of a new domestic airline called Mongolian Airlines, XacBank receiving funding from FMO to support SME lending, Erdene raising funds for gold exploration, and Noble Group partnering with Aspire Mining to market Mongolian coking coal. It also briefly mentions news related to the Mongolian economy and politics.
The document outlines a quality assurance training program presented by Barrie Evans of the Business Council of Mongolia. The overall goal of the program is to accelerate sustainable private sector growth in Mongolia by enhancing the private sector's role in economic development. The program will provide training in areas like quality management, food safety, internal auditing, and certification courses over 5 months in 2011-2012. It includes a schedule of courses to be offered each month that will help strengthen private sector capacity and competitiveness in Mongolia.
The document is a newsletter from the Business Council of Mongolia that includes the following highlights:
- Several mining companies announced significant mineral resource estimates at their Mongolian properties, including Haranga Resources reporting 32.8 million tons of iron ore and Moly World reporting 203.4 million tons of molybdenum ore.
- Power remains an issue for the Oyu Tolgoi mine as agreements have not yet been reached to import electricity from China, potentially delaying production timelines.
- South Korea wants at least a 10% stake in the Tavan Tolgoi coal mine project and does not think the previously discussed 36% stake is sufficient.
- The newsletter also provides various other
The Economic Policy and Competitiveness Research Center (EPCRC) was established in 2010 by Mongolia's largest companies to conduct research on issues affecting Mongolia's economic competitiveness. EPCRC publishes an annual Mongolia Competitiveness report in partnership with the Institute for Management Development, analyzing Mongolia's performance on 327 criteria compared to 58 nations. While mining is a major driver of Mongolia's economy, it also risks issues like "Dutch disease" and lack of economic diversification if not managed properly. EPCRC advocates for policies to improve legal predictability, workforce skills, monetary policy, and encourage value addition and innovation in Mongolia to strengthen competitiveness beyond mining.
This document discusses Mongolian mining investment opportunities in 2010. It provides background on why Mongolia is a good place to invest, noting its large land area, stable democracy, strategic location near China, educated workforce, and abundance of natural resources. Current Mongolian mining companies are experienced with western exploration techniques. Partnering with local companies provides advantages like government and community relations assistance. The company Altai Gold LLC controls 25 exploration licenses across Mongolia, including for gold, coal, and copper-gold projects. It seeks further investment for exploration and development and eventual capital market participation. Mining in Mongolia does carry risk, as with any emerging market.
Xanadu Mines is exploring for copper-gold porphyry deposits in Mongolia. Its flagship project is the Kharmagtai project, which hosts multiple mineralized zones over a 2km area. Recent drilling at Kharmagtai intersected a new discovery called East Altan Tolgoi, with hole KHDDH343 returning a 241.7m interval grading over 1% copper equivalent. Xanadu plans to expand on this new discovery through further drilling to extend mineralization along strike and at depth. The Kharmagtai project has potential for additional discoveries under shallow cover based on its similarities to productive porphyry belts in Australia and elsewhere.
The document summarizes business and economic news from Mongolia. It discusses several mining projects and disputes between Rio Tinto and the Mongolian government over profits from the Oyu Tolgoi copper mine. It also mentions Anglo American entering the Mongolia market, restrictions placed on SouthGobi's assets, and presentations made at the Coal Mongolia 2013 forum calling for cooperation between the public and private sectors in Mongolia.
This document summarizes trends in Mongolia's real estate market between 2007-2014. It shows that property prices increased significantly until the late 2000s but declined in 2009 due to the global financial crisis. Prices have since recovered and Mongolia's luxury property prices and yields rank competitively compared to other emerging markets. Government policies like subsidized mortgages have supported growth in the housing sector while rising incomes have increased demand. The retail property market has also expanded, especially in the capital city of Ulaanbaatar, though rental rates vary by location. The government has outlined plans to develop new commercial centers to accommodate future population growth.
VFB 2013 - Your route to an AIM listing - London Stock ExchangeScience City Bristol
This document provides an overview of listing on the London Stock Exchange, specifically the AIM market. Some key points:
- AIM provides growing companies access to significant capital and liquidity to fund expansion. Over 3,400 companies have raised £82 billion total through AIM listings.
- Technology and life science companies are well represented on AIM, with 222 technology companies raising £3.3 billion. Recent IPOs include companies developing cloud software, medical devices, and sports technology.
- The listing process involves appointing an advisor, due diligence, and a placing of shares. Ongoing costs include compliance and investor relations but provide benefits like visibility and an exit option.
- Successful
The document summarizes why the London Stock Exchange is a premier listing choice for companies seeking to raise capital. Some key points include:
- It enables companies to raise capital from a diverse global investor base and gain access to the largest pool of international equity assets in Europe.
- London has the largest number of listed companies of any exchange in Europe and is the largest IPO market. It also has the most liquidity and highest trading volumes.
- Companies listed in London gain exposure to global institutional investors and analysts, improving their visibility and liquidity. This is particularly beneficial for sectors like mining.
The document discusses the London Stock Exchange as a listing location for companies. It notes that the LSE provides access to global institutional investors and has high standards of regulation. The LSE has over 2,500 domestic companies listed and over 675 international companies listed, with a combined market capitalization of trillions of dollars. The Alternative Investment Market (AIM) has over 1,675 companies listed, including 343 international companies, and has raised over $115 billion since 1995. The document argues that the LSE provides a more flexible regulatory environment compared to exchanges like the NYSE or Nasdaq.
Zimbabwe Rising Conference 2010 -Richard Webster-Smith - London Stock Exchang...countryfactor
The London Stock Exchange offers several options for African companies seeking to list shares or depositary receipts. There are currently 18 African companies listed on the Main Market and 16 with depositary receipts listed on the Main and Professional Securities Markets. In 2010, 49 Africa-focused companies were quoted on the AIM market, which raised a total of £727.8 million from African IPOs. Listing requirements and costs vary depending on the market, but the LSE provides access to international investors and the deepest pool of capital in Europe.
This document discusses global capital markets and where mining equity stories fit within them. It provides an overview of PwC's global mining network and credentials advising mining IPOs. It then analyzes mining IPO trends, including some examples from 2011. Key messages are that IPO volumes are expected to increase in 2012, particularly in Asia, and there has been a shift towards emerging markets in terms of the composition of large mining companies and future growth in stock market capitalization. The document concludes by discussing considerations for mining companies regarding which market to list their equity story in.
This document discusses global capital markets and where mining equity stories fit within them. It provides an overview of PwC's global mining network and credentials advising mining IPOs. It then analyzes mining IPO trends, including some examples from 2011. Key messages are that IPO volumes are expected to increase in 2012, particularly in Asia, and there has been a shift towards emerging markets in terms of the composition of large mining companies and future growth in stock market capitalization. The document concludes by discussing considerations for mining companies regarding which market to list their equity story in.
AIM is the London Stock Exchange's market for smaller, growing companies, launched in 1995. It provides companies a way to raise capital to fund growth and an exit route for early investors. Over 1,100 companies are listed on AIM with a total market value of over £67 billion. These companies operate globally and represent a wide range of sectors. AIM allows companies to raise capital throughout their life on the market and provides access to leading institutional investors. Its entry and continuing requirements are tailored for growing companies seeking to maximize their growth potential and visibility.
This document contains a presentation by Alexander Afanasiev, CEO of Moscow Exchange, covering:
- The successful merger of MICEX and RTS stock exchanges and the vertically integrated exchange platform it created.
- Moscow Exchange's diversified product offerings and positioning as a top-20 global exchange.
- Growth trends across equities, fixed income, currency and derivatives markets served by Moscow Exchange.
- Resilience of Moscow Exchange's operating income to economic cycles due to diversification.
- Details of Moscow Exchange's successful IPO in February 2013 and shareholder base.
The document discusses the Mongolian Stock Exchange's partnership with the London Stock Exchange Group to improve liquidity and transform the MSE into a world-class exchange. Key points include:
- The MSE signed an agreement with LSE Group in 2011 to implement regulatory reforms, new trading technologies, and training to develop Mongolia's capital markets.
- Since then, the MSE has launched new trading systems, revised rules and regulations, and provided extensive training to stakeholders.
- The partnership aims to attract more local and foreign investment by establishing international standards on the MSE and developing Mongolia as a frontier market.
The document discusses the Mongolian Stock Exchange's partnership with the London Stock Exchange Group to improve liquidity and develop Mongolia's capital markets. Key points include:
- The MSE signed an agreement with LSE Group in 2011 to implement reforms like new technology, regulations, and training.
- Since then, MSE has launched a new trading system, revised rules, and provided capital markets training.
- Statistics show Mongolia's economy and stock market have grown rapidly in recent years.
- The partnership aims to transform MSE into a world-class exchange and develop Mongolia's capital markets overall.
Australian Business Forum helps Australian SMEs and businesses to understand the Chinese market and refine their China strategy.
http://abf.events/
ABOUT THE PRESENTATION
James Gerraty has been the Australian Securities Exchange's Manager of Listings in Melbourne since 200. ASX is one of the world's 10 top listed stock exchange groups, the listings unit of which ensures that the ASX provides fair, orderly and transparent markets.
This presentation, given at the Fortune Forum 2015 Australian Summit, covers capital raising in equity markets, corporate governance, periodic and continuous disclosure, and more.
The document provides a history of NASDAQ and its growth and acquisitions over time. It traces NASDAQ's origins back to 1971 when it was incorporated and highlights some of its major milestones and acquisitions over the decades that have expanded its global reach. By 2013, NASDAQ had over 3,400 listed companies with a combined market capitalization of over $6 trillion and operated exchanges in over 50 countries through acquisitions like OMX and Thomson Reuters. The document demonstrates NASDAQ's history as a major player in global financial markets and its ongoing innovation and expansion.
The document summarizes IPO activity in Europe in Q3 2013. Some key points:
- Total IPO proceeds in Europe were €3.043 billion in Q3 2013, bringing the 2013 YTD total to €11.7 billion.
- London maintained its position as the top market, accounting for 56% of quarterly proceeds. Investment and real estate companies dominated, raising 70% of funds.
- The top 5 IPOs accounted for 63% of quarterly proceeds, with Deutsche Annington and Foxtons Group being the largest at €500 million and €462 million respectively.
- Three of the top five European IPOs year-to-date were trading above both their IPO
This document provides an overview of the Korean capital markets and the Korea Exchange (KRX). It discusses how the KRX operates the KOSPI market for large companies, the KOSDAQ market for SMEs, and the derivatives market. It provides statistics on the size and composition of the markets. The number of foreign investors in Korean markets has increased significantly since restrictions were lifted in 1998, and now make up over 35% of the total market capitalization. The top holdings of foreign investors are in companies like Samsung Electronics and Hyundai Motors. The document presents information on how foreign investors can participate in the Korean markets through a local custodian.
The document describes the life cycle of a trade from execution through settlement. It discusses the key participants in the trading process like brokers, dealers, exchanges. It also covers important stages like trade capture, validation, confirmation and instruction matching that occur between execution and settlement. Maintaining accurate static data is important for straight-through processing throughout the trade life cycle.
A year on from when we first reported with Dealroom on the UK's tech unicorns for the Government’s Digital Economy Council, it can be revealed that the UK has created 13 new unicorns - privately-owned tech companies valued at over $1bn - in the last year, ranking the UK third behind only the US and China in creating fast-growing global tech companies.
• The UK is behind only the US and China for total number of unicorns created
• London ranks second to the Bay Area for the number of fintech unicorns, at 18
• UK tech has created more $1bn companies than any other European country and Israel
• Since last year’s London Tech Week, 13 new unicorns have been created bringing the total number of UK unicorns to 72
http://pwc.to/17VSZqK
Les marchés européens des IPO poursuivent leur essor :
- Deuxième meilleur trimestre depuis le troisième trimestre 2011
- Londres arrive une nouvelle fois en tête, avec quasiment la moitié du total des fonds levés
- Les introductions en bourse financées par des capitaux privés continuent de dominer le marché et représentent près de 60 % des fonds levés
The document is a newsletter called "The Dividend Weekly" that provides information on dividend-paying stocks. It includes sections that list the best performing large cap, mid cap, and small cap dividend stocks for the past week and year-to-date. It also covers yield and valuation metrics for dividend stocks across various geographic regions and industry sectors. The newsletter is a free weekly report that subscribers can sign up to receive.
The document provides an overview of the 2014 results and quarterly performance for the UK Commercial Property Trust. Some key points from the summary:
- Capital gains moderated in Q4 2014 while rental growth improved. Income remains an important component of returns going forward.
- Rental growth forecasts are improving, especially for offices, in line with the economic recovery.
- The portfolio demonstrated strong performance over 1, 3, 5 years and since inception compared to benchmarks.
- The portfolio is diversified across sectors and regions with a focus on retail, offices and industrial properties in London and Southeast England.
Similar to 30.04.2014 How could you ensure an effective IPO and the raising of the necessary capital for your business, Ayuna Nechaeva (20)
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened Three Camel Lodge in 2002 as the only luxury eco-lodge in the Gobi Desert. Built by and staffed by locals, Three Camel Lodge offers travelers a way to experience the nomadic spirit of the region alongside modern comforts while protecting the natural beauty and culture.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened the only luxury eco-lodge in the Gobi Desert, Three Camel Lodge, in 2002. Built by and staffed by locals, Three Camel Lodge offers travelers a variety of activities to learn about nomadic culture while enjoying modern comforts in a way that showcases the nomadic spirit without destroying the natural environment of the region.
The Business Council of Mongolia published its January 2020 Macroeconomic Updates report which contained the following key points:
1) Mongolia's GDP grew 6.3% in Q3 2019 while inflation was at 5.2% in December 2019. Exports reached a historic high of $7.6 billion in 2019, driven by record coal exports.
2) Foreign direct investment in Mongolia totaled $21.5 billion as of 2019, with the majority from Canada, China, Singapore, and Luxembourg invested mainly in mining.
3) The Mongolian currency, the togrog, depreciated 3.8% against the US dollar in 2019 as the central bank supplied $2.
Faro Foundation Mongolia is a non-governmental organization that promotes digital literacy and safe internet use in Mongolia. It works to educate the public on topics like online safety, proper social media use, and cyberbullying prevention. The organization's primary goal is to create positive social change through social media. It has developed a digital literacy curriculum and library on Facebook to teach essential digital skills to students, teachers, and parents.
The Business Council of Mongolia (BCM) is an independent non-profit organization established in 2007 to advocate for economic freedom and a competitive business environment in Mongolia. It has over 240 member organizations from various sectors. The BCM aims to equip its members with policy research, training, and networking opportunities. It is organized with a Board of Directors, Executive Committee, and six working groups focused on key issues. The Growth and Innovation working group works to promote digital transformation in Mongolia.
The One-Stop-Service Center (OSSC) was established in February 2019 under the Prime Minister's order to provide centralized public services to investors in Mongolia. The OSSC was created as part of Mongolia's three-pillar development policy and on the recommendation of the Investment Protection Council. It allows five government bodies, a bank, and notary office to render services to foreign investors from one location.
Mongolians are building a competitive Fintech sector with international ambitions by cultivating agile and innovative teams combining specialists and experts from 6 nationalities. To become truly internationally competitive, Mongolia must train professionals and executives to international standards by growing their next generation of innovative leaders and skilled experts. Overcoming these challenges will allow Mongolia to solve growing issues and compete in international markets.
The document discusses competitiveness rankings for Mongolia and its provinces. It analyzes Mongolia's performance in the IMD World Competitiveness Ranking, where Mongolia ranked 62nd out of 63 countries in 2018. The ranking evaluates countries across 4 factors: economic performance, government efficiency, business efficiency, and infrastructure. The document also summarizes findings from a provincial competitiveness report for Mongolia, which evaluated and ranked the competitiveness of Mongolia's 21 provinces. Finally, it outlines criteria and results from a competitiveness ranking of districts in Ulaanbaatar city across 5 factors of quality of life, living environment, safety and security, governance, and economic performance.
Digital transformation involves using digital technology in new ways to solve traditional business problems and drive organizational change. The presentation discusses how digital transformation differs from related concepts like digitization, analytics, and outsourcing. Key aspects of digital transformation include leveraging data as a strategic asset, adapting to digital natives, and undergoing cultural and technological changes. Methods like agile project management and design sprints are presented as ways to accelerate transformation. The presentation also provides examples of how companies have transformed, such as Domino's Pizza using digital strategies to regain market share.
DBS Bank was named the world's best digital bank by Euromoney in 2016 and 2018, beating competitors like Citi, BBVA, and ING. The CEO of DBS Bank, Piyush Gupta, accepted the award and said that banks of the future will be fundamentally different than today's banks due to their digital transformation. DBS Bank has spent three years focused on digital initiatives by changing employee mindsets and technology infrastructure to make banking simple and seamless for customers.
Mongolia transitioned to democracy in the early 1990s after a peaceful revolution. It now has a multi-party parliamentary democracy with freedoms of religion, expression, and private property rights guaranteed in its constitution. Mongolia's economy depends heavily on its mineral and agricultural sectors as it continues developing a market economy after transitioning from Soviet control.
The document discusses the Growth & Innovation Working Group of the Business Council Mongolia. The working group aims to:
1. Promote and advance business growth and innovation in Mongolian society through educating businesses, government, and the public on opportunities in research and development.
2. Enable all organizations to grow and innovate, not just start-ups or sectors traditionally thought of as innovative.
3. Focus on key objectives like digitalization, infrastructure, financial technology, data security, efficiency, public investment policy, and intellectual property protection to support the digital transformation of consumer and enterprise services through technologies like IoT, AI, fintech, blockchain, and more.
The working group plans events
The BCM held its January monthly meeting to discuss organizational updates. Key points:
- The BCM elected a new 15-member Board of Directors and appointed an Executive Committee and Working Groups.
- Two presentations were given on legal environments for asset management in Mongolia and on responsible mining.
- The BCM revised its mission statement to focus on providing members with policy research, training, and networking support for business in Mongolia.
- The BCM reorganized its working groups, which are now chaired by Board members, and strengthened its secretariat.
The document discusses Mongolia, Russia, and China's economic corridor program. It notes that the program aims to improve connectivity between the three countries through projects involving railway, roads, energy transmission lines, gas and oil pipelines, and high-speed internet. There are currently 32 projects across areas like infrastructure, energy, agriculture, border cooperation, trade, environment, education, medicine, and more. The document also discusses plans to establish a joint center for investment planning and projection in Ulaanbaatar to facilitate implementation of the economic corridor program projects and further trilateral cooperation.
This document provides information on business opportunities through procurement for Mongolia's Second Compact Agreement with the Millennium Challenge Corporation (MCC). It outlines that the total grant value is $350 million to fund activities supporting economic growth and poverty reduction in Mongolia. Key business opportunities include consulting services, goods, and construction works valued at approximately $44 million for the base year. The presentation also reviews MCC's procurement principles of transparency, fairness and competitiveness. It provides details on the procurement process and how opportunities will be advertised.
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Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
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This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf46adnanshahzad
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Introduction
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Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
2. 2
London Stock Exchange Group: A leading
diversified international ‘exchange’ group
Source: www.lseg.com
Primary Markets Trading POST TRADE & RISK
MANAGEMENT
INFORMATION SERVICES & IP
TECHNOLOGY
CAPITAL MARKETS
3. 3
London listing offers unique benefits
A global investor community The most international market
Access deep liquidity pool Increased visibility
Raise capital from the most
diverse global investor base
Highly experienced
advisors and regulators
Dedicated liquid trading
platforms
Cost-efficient access to the
world’s largest pool of
international equity assets
Wide choice of different markets
to suit issuers
Flexible and international-
minded approach to regulation
Point of reference for asset
management firms
Focal point for sell and buy-side
firms looking at global peer
groups across all sectors
Through our group companies we endeavour to provide the best listing and trading
environment for our issuers and investors
4. 4
Our issuers operate in more than 115 different countries across the globe
Source: London Stock Exchange statistics. Based on country of primary business.
60 +
40-59
20-39
1-19
Number of companies
London is the most international equity market in the
world
5. 5
London connects investors around the world
Asia Pacific
• State Administration of Foreign
Exchange (China)
• GIC
• BNY Mellon Hong Kong
• Blackrock Japan
• Mitsubishi UFJ Trust
• Sumitomo Mitsui
• Aberdeen Asset Management
Asia
• Hang Seng Investment
Europe
• Blackrock
• Legal & General
• Scottish Widows
• Invesco
• M&G
• Standard Life
• AXA
• Societe Generale
• Alecta Pension
• DWS Investment
• Swedbank Robur
• Allianz Global Investors
• BNP Paribas
• Union Investment
Privatfonds GMBH
• Norges Bank
Americas
• Capital Research
• Vanguard
• SSgA Funds
• Fidelity
• Blackrock
• Thornburg Investment
• Artisan Partners
• Alliance Bernstein
• T. Rowe Price
• Caisse de dépôt et
placement du Québec
• Itau Unibanco Brazil
Africa and Middle East
• QIA
• P.I.C South Africa
• Kuwait Investment Authority
• Investec
• ABC Islamic Bank
• Abu Dhabi Investment Authority
-11
-10
-9
-8
-7
-6
-5
-4
-3
-2
-1
0
1
2
3
4
5
6
7
8
9
10
11
London trading hours
Selected major Institutional investors in London listed equities
GMT
Source: Factset, (October, 2013)
6. 6
Money raised
(IPO) (USDm)
2012 2013
Main Market 11,350 18,016
AIM 1,040 1,602
Total 12,390 19,618
Follow on
Issues (USDm)
2012 2013
Main Market 17,677 35,419
AIM 3,702 3,688
Total 21,380 39,107
Number of IPOs 2012 2013
Main Market 24 43
AIM 43 62
Total 67 105
Source: Bloomberg and Dealogic, as of 31 December 2013
London offers a vibrant market environment
0
10
20
30
40
50
60
0
10
20
30
40
50
60
70
80
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
VIXindex
DealvalueinUSDbn
Further issues New issues VFTSE
In the last 12 months: 105 IPOs raised close to USD 20
bln marking the highest level of activity since 2007.
Positive market conditions confirm this to be an
opportune moment to work on a London listing.
7. 7
Source: Dealogic,
*Number of IPOs by listing venue
Note: GBP/USD conversion rate of 1.66 applied throughout the presentation
*As at 21 March 2014
Global IPO market Q1 2014
Top 5 Exchanges by No of IPOs Q1 2014
Top 5 exchanges by
money raised at IPO Q1 2014*
• Very strong performance across equity capital markets in Q1 2014, with global IPOs flows close to USD 42bn.
London accounted for a fifth of that flow. It was the best Q1 for IPOs in London since 2007.
• 23 deals priced in London in YTD raising close to USD8bn. Retail and real estate sectors were the most active,
attracting 51% of all capital raised. London deals enjoyed a healthy aftermarket performance, with 14 deals trading
above the issue price.
• Five of 15 largest IPOs globally took place in London, including Kennedy Wilson (real estate fund), AO World (on-line
retailer) and Lenta (the Russian supermarket chain).
USD m
#ofIPOs
20+
6-19
1-5
no IPO
Number of IPOs (YTD)
40
38
23
19 18
0
5
10
15
20
25
30
35
40
45
Nasdaq Shenzhen LSEG NYSE HKSE
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
LSEG NYSE TSE HKSE Shenzhen
8. 8
Money
raised (IPO)
(USDm)
Q12013 Q12014
%
change
Main Market 2,975 5,922 99.1%
AIM 57 1,945 3,312.3%
Total 3,031 7,867 159.6%
Follow on
issues
(USDm)
Q12013 Q12014
%
change
Main Market 5,882 6,328 7.6%
AIM 715 1,325 85.3%
Total 6,597 7,652 15.9%
Number of
IPOs
Q12013 Q12014
%
change
Main Market 8 10 25.0%
AIM 6 13 116.7%
Total 14 23 64.3%
Source: Bloomberg and Dealogic, as of 21 March 2014
0
10
20
30
40
50
60
0
10
20
30
40
50
60
70
80
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
VIXFTSEIndex
DealvalueinUSDbn
Further issues New issues VFTSE
London new issuance market extremely active…
9. 9
Antofagasta – 1888* Glencore,
2011
Fresnillo
2008
NWR
2008
African Barrick
Gold
2010
Yamana Gold
2007
Xstrata
2002
Anglo
American 1999
Aquarius
Platinum 1999
Vedanta
2003
Kazakhgold
2005
*First listing in 1888; second listing in 1982.
Papua
Mining
2012
London - the home of global and ambitious
mining companies
Stratmin
Global
Resources
2013
10. 10
Oil & Gas
20%
Banks
14%
Basic Resources
12%
Food & Beverage
10%
Health Care
7%
Personal & Household
Goods
6%
Telecommunications
6%
Industrial Goods & Services
5%
Insurance
4%
Utilities
3%
Retail
3%
Travel & Leisure
3%
Media
2%
London hosts a significant and diverse mining sector
FTSE 100 chart - by market capitalisation. Source: Bloomberg, Jun 2013 – Country of Operations' chart from London Stock Exchange Statistics (excl. UK)
Others
Others
Financial Services 0.9%
Real Estate 0.8%
Technology 0.8%
Construction & Materials 0.5%
Chemicals 0.4%
Automobiles & Parts 0.2%
FTSE 100
by sector
South Africa
Australia
Canada
Kazakhstan
Ireland
Russia
Mozambique
Sierra Leone
Tanzania
China
Global
Indonesia
Peru
Kyrgyzstan
Mexico
Zimbabwe
Argentina
Chile
India
Malaysia
Mali
Namibia
Philippines
Sweden
Turkey
USA
Zambia
Others
Our mining
companies have
operations in
over 55
countries
11. 11
Russia & CIS companies on LSE Markets
comparison of different routes
Number of Russia & CIS
companies on market
15 54 42
Aggregate mkt cap ($bn) 24.9 552.8 2.9
IPO Money raised ($bn) 8.1 55.6 2.9
Examples of companies Polymetal, Polyus Gold, Evraz TCS, Megafon, Kcell, Sberbank
Mirland Development, Central Asia
Metals, Max Petroleum
Minimum free float 25% 25% Assessment of suitability
Revenue criteria
75% of business supported by revenue
earning record of 3 years
n/a n/a
Admission
Prospectus & Eligibility letter to UKLA
under Listing Rules
Prospectus
AIM Admission Document & Nomad
declaration of suitability
Adviser
Listing Sponsor at admission & for
transactions
n/a Nominated Adviser at all times
Corporate governance UK Corporate Governance Code Corporate Governance statement
Expected market practice & guidance
from Nomad
On-going obligations Disclosure & Transparency Rules Disclosure & Transparency Rules AIM Rules
Significant transactions Class tests as per Listing Rules n/a Class tests as per AIM rules
Cancellation 75% shareholder approval No shareholder approval required 75% shareholder approval
Indices FTSE UK Series, where eligible Russia IOB FTSE AIM Series, where eligible
12. 12
Money raised by CIS companies in London
Source: www.RussianIpo.com
111 Russian & CIS companies on Main
Market & AIM
45 Russian listed GDRs on the Main
Market and 8 Premium companies. There
are also 5 Russian companies traded on
ATT
Overall raised in new and further issues
$85.26bn by Russian & CIS companies
Total number of listed Russian companies
(ex-ATT) is 68 (53 MM, 15 AIM)
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
CIS IPO (MM) 1 9 13 19 6 1 4 6 6 1 1
CIS SPO (MM) 2 1 3 3 4 7 10 2 5 5 -
Average Capital Raised
($m)
237 530.4 1,271 1,105 323 229 280 882 947 540 952
Median Capital Raised ($m) 49.3 639 498.6 772 220 175 218 557 359 499 952
Total money raised by the CIS companies on the LSE's Main Market
178.0
6,064.4
20,341.3
25,423.5
3,227.8
1,828.9
3,926.8
8,084.2
9,468.7
2,609.5
952.0
0
5,000
10,000
15,000
20,000
25,000
30,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
MoneyRaised(mln$)
Total money raised by the CIS companies on LSE's Main
Market
13. 13
Depositary Receipts secure market-leading liquidity
2013 (to September) LSE order book value traded rankings
# Segment Company
1 FTSE 100 VODAFONE GRP.
2 FTSE 100 HSBC HLDGS.UK
3 FTSE 100 RIO TINTO
4 FTSE 100 BARCLAYS
5 FTSE 100 BHP BILLITON
6 FTSE 100 GLAXOSMITHKLINE
7 IOB OAO GAZ.ADS 1
8 FTSE 100 BP
9 IOB SBERBANK
10 FTSE 100 RDS 'B'
11 FTSE 100 BR.AMER.TOB.
12 FTSE 100 LLOYDS GRP.
13 FTSE 100 DIAGEO
14 FTSE 100 RDS 'A'
15 IOB LUKOIL ADR
16 FTSE 100 ASTRAZENECA
17 FTSE 100 GLENCORE XSTRA
18 FTSE 100 STAND.CHART.
19 FTSE 100 SABMILLER
20 FTSE 100 UNILEVER
21 FTSE 100 BG GRP.
22 FTSE 100 ANGLO AMERICAN
23 FTSE 100 TESCO
24 FTSE 100 RECKITT BEN. GP
25 FTSE 100 NATIONAL GRID
• In 2013 to September, IOB trading accounted for
around 11.5% of total order book value traded on
LSE
• New product development such as FTSE Russia
IOB and individual GDR option contracts help to
enhance liquidity
• The International Order Book (IOB) offers full
trading solutions: clearing, netting and settlement
Source: London Stock Exchange Statistics, September 2013.
14. 14
Top 25 Investors in GDRs of Russian companies on
LSE*
Rank Investor Name $Value $Change Turnover Country
1 The Vanguard Group, Inc. 3,357,607,930 35,443,801 Low United States
2 BNP Paribas Asset Management (France) 1,529,671,427 703,227,942 Medium France
3 Capital World Investors (U.S.) 1,441,163,232 -143,974,516 Low United States
4 Schroder Investment Management, LTD 1,372,772,743 26,724,949 Medium United Kingdom
5 Grantham Mayo Van Otterloo & Co., LLC 1,338,802,491 -13,219,129 Medium United States
6 Van Eck Associates Corporation 1,181,939,792 169,216,779 Medium United States
7 J.P. Morgan Asset Management (Moscow branch) 1,181,128,133 4,911,397 Low Russian Federation
8 DWS Investment GmbH 1,132,579,528 -68,548,950 Medium Germany
9 BlackRock Investment Management (U.K.), LTD 934,364,620 -877,763 Low United Kingdom
10 Dimensional Fund Advisors, L.P. (U.S.) 802,081,163 2,060,863 Low United States
11 T. Rowe Price International, LTD 770,806,243 108,395,510 Medium United Kingdom
12 SKAGEN AS 713,171,692 -46,743,461 Medium Norway
13 OppenheimerFunds, Inc. 704,007,747 69,042,873 Medium United States
14 Pictet Asset Management UK, LTD 689,327,109 -8,813,681 Medium United Kingdom
15 BlackRock Fund Advisors 673,754,438 -69,229,300 Low United States
16 Credit Suisse AG (Asset Management) 598,470,962 15,610,008 Medium Switzerland
17 BlackRock Advisors (U.K.), LTD 593,233,648 -56,062,538 Low United Kingdom
18 Lazard Asset Management, LLC (U.S.) 585,217,322 43,806,966 Low United States
19 Neptune Investment Management, LTD 577,854,749 0 Medium United Kingdom
20 J.P. Morgan Asset Management (UK), LTD 561,316,962 69,030,083 Medium United Kingdom
21 East Capital Asset Management AB 560,467,176 -136,000,438 Medium Sweden
22 HSBC Global Asset Management (U.K.), LTD 539,546,521 -29,645,657 Medium United Kingdom
23 CPP Investment Board 534,098,810 0 Low Canada
24 Baring Asset Management, LTD (U.K.) 532,409,964 -602,668,562 Medium United Kingdom
25 Capital Research Global Investors (U.S.) 521,497,950 81,081,500 Low United States
Source: IPREO; June 2013
*Rollo Roscow (Schroders), Ghadir Abu-Leil Cooper (Barings), Ulle Adamson (T Rowe) will all be attending 16 October
15. 15
Prepare ahead
Early Look
Investor
Engagement
In an increasingly crowded primary market calendar, early preparation is critical
Very hard to accelerate an IPO process, so early preparation enhances ultimate timing flexibility
As activity increases, pressures / bottlenecks are likely to increase within advisory community – choosing the right advisers therefore
increasingly important
Buyside fund managers have been vocal in the past about wanting to meet management teams ahead of an IPO
This practice of “early look” engagement with a number of the key investors has been very valuable:
Feedback for the Company and owners at an early stage on the business model, the management team and likely valuation
parameters
Investors get an opportunity to build a rapport with management at this early stage, enhancing their likely participation at the IPO
Information at this stage can be carefully managed, such that management teams are not held to specific forecasts later at the time of the
IPO
Demand
Patterns have
Shifted
For UK IPOs YTD, participation from US investors (who are significantly underweight Europe still) has typically totalled 30-50% of gross
demand
Appetite from retail both directly (spill-over from Royal Mail effect) and through intermediaries has been strong and merits real
consideration
Important to consider complementary distribution platforms in IPO syndicates to tap all of these pockets
Appetite Broad
Based
We have seen transactions this year across all sectors – quality businesses will be well received
Particularly successful have been consumer-facing companies with strong brands (Countrywide, Foxtons, Conviviality / Bargain Booze)
Secondary components at IPO have been accepted, but the best performers (Countrywide, HellermanTyton) have seen further
monetisations since IPO at substantially improved price levels
Observation Comment
Lessons Learned from Recent IPOs
16. 16
Indicative IPO transaction timeline
- 6 months
UKLA approval stage
Roadshow
Bookbuilding Pricing
-3 months
Transaction structure and board preparations
Discussions with existing shareholders
Due diligence
Engage with sponsor (if applicable)
Company
Financial
Tax planning
Audit
IFRS preparation (if needed)
Financials and valuations
Working capital statements
Long form financials
Forecasts and offer size agreed
Legal
Suitability and due diligence
Memorandum and articles of association / underwriting agreement/ Board minutes/
depositary agreement and other documents
Early engagement with the UKLA
Admission Document drafting
Investors
and
distribution
Investor education and business case
Test marketing
Early engagement with the UKLA
Preparation of research
Pricing model
Pre marketing
PR Company profile and story
LSE Preliminary discussions and on-going support
Prospectus
approved
Admission to
trading
- 1 month
18. 18
Start - Up Early Stage Expansion Consolidation &
further capital raising
Diversification of investors, M&A
and International Expansion
EU Regulated
Concept &
seed stage
Fundingrequirement
£500k
£1m
£100k
£50k
£150m
£1bn
Not public Exchange regulatedMarket
designation
Strategic consideration
Official List & EU Regulated
A choice of routes to market to cater for various
sizes, strategies and development stages
19. 19
Comparison of different routes to market for
commercial companies
MAIN MARKET AIM
Description Premium Standard HGS AIM
Domicile Any Any EEA incorporated Any
Regulation
EU Regulated Market &
Listed
EU Regulated Market &
Listed
EU Regulated Market MTF
Minimum free float 25% 25%
10% with a min value of
£30m
Assessment of suitability
Revenue criteria
75% of business supported
by revenue earning record
of 3 years
n/a
20% CAGR in revenues
over 3 year period
n/a
Admission
Prospectus & Eligibility
letter to UKLA under
Listing Rules
Prospectus
Eligibility letter to
Exchange under HGS
rules & Prospectus to
UKLA
AIM Admission Document
& Nomad declaration of
suitability
Adviser
Listing Sponsor at
admission & for
transactions
n/a
Key Adviser at admission
& to seek advice for certain
events
Nominated Adviser at all
times
Corporate governance
UK Corporate Governance
Code
Corporate Governance
statement
Corporate Governance
statement
Expected market practice
& guidance from Nomad
Ongoing obligations
Disclosure & Transparency
Rules
Disclosure & Transparency
Rules
Disclosure & Transparency
Rules
AIM Rules
Significant transactions
Class tests as per Listing
Rules
n/a
Class tests as per HGS
rulebook
Class tests as per AIM
rules
Cancellation 75% shareholder approval
No shareholder approval
required
75% shareholder approval,
unless cancelling to
transfer to Premium
75% shareholder approval
Indices
FTSE UK Series, where
eligible
n/a n/a
FTSE AIM Series, where
eligible
20. Case Study:
Central Asia Metals
Company profile
Central Asia Metals Plc is a precious and
base metals mining, exploration and
development company with majority stakes in
copper, gold and molybdenum projects
throughout Central Asia.
Central Asia Metals Plc's highly experienced
management and operations team has a
proven record in Central Asia, and is working
towards developing its diversified base and
precious metals portfolio by identifying further
value-adding opportunities and projects
throughout Kazakhstan, Mongolia and the rest
of Central Asia.
Listing story
Central Asia Metals Plc joined AIM in 2010
raising an initial $59.3m and had a market
capitalisation of $132.7m.
CAML has since raised over $10m in further
issues and is now a top 10 company by
market capitalisation on AIM in its subsector.
Proceeds have been used to fund a copper
production plant in Kazakhstan and to
develop exploration assets in Mongolia
Source: Factset, June 2013
20
Company Details
Company
Central Asia Metals
plc
Market AIM
Sector Mining
Ticker CAML
Country of
incorporation
UK
Transaction Details
Admission Date 30 Sep 2010
Money raised at
admission
$59.3
Market cap at
admission
$132.7m
Current market
cap
$147.6m
NOMAD Canaccord
Genuity Limited
Investor Name
Value held in
USD millions
Legal & General Investment Management Ltd. 9.3
BlackRock Investment Management (UK) Ltd. 4.3
Majedie Asset Management Ltd. 3.7
Henderson Global Investors Ltd. 3.6
Hargreave Hale Ltd. 2.0
Smith & Williamson Investment Management
Ltd.
1.6
Lansdowne Partners Ltd. 11.4
FIL Investments International 2.7
Goldman Sachs (US) (Market-Maker) 0.8
Goldman Sachs & Co. 0.7
60
70
80
90
100
110
120
130
140
Apr-12 Jul-12 Oct-12 Jan-13 Apr-13
Central Asia Metals plc FTSE AIM All Share Index
21. Case Study: Kcell
Company profile
Kcell is the leading mobile phone provider for
Kazakhstan and is affiliated to TeliaSonera,
the largest Scandinavian telecommunications
holding
Founded in 1998, Kcell has seen extensive
growth and as of April 2013 the company’s
subscriber data base was 13.8 million
As of December 2012 employs 1,612 people
to enable them to provide coverage serving
5,015 cities and settlements of Kazahstan with
a population of over 1,000 people
Listing story
Kcell listed its GDRs in London on 17th
December 2012. The company also listed
ordinary shares on their domestic market in
Kazakhstan
The listing was a sale by TeliaSonera of 50
million shares, which constituted of 25% of
the company’s share capital
Capital raised is expected to be used for
international growth and exposure
In March 2013 Kcell announced they had
won Best IPO in CEE and Best DR
programme in the EMEA Achievement
Awards 2012
Source: Factset, April 2014
21
Company Details
Company JSC Kcell
Market Main Market (GDRs)
Sector
Mobile
Telecommunications
Trading System IOB
Country of
incorporation
Kazakhstan
Transaction Details
Admission Date 17 Dec 2012
Money raised at
admission
£260m
Market cap at
admission
£1.29bn
Current market
cap
£1.46bn
Bookrunner
Credit Suisse, UBS,
Visor Capital
UK
18%
US
43%
Other
22%
Kaz
17%
ORDs
10%
GDRs
90%
Allocation by region Split by instrument type
22. Company Details
Company ASOS
Market AIM
Sector Apparel Retailers
Trading System SETS
Ticker ASC
Country of
incorporation
UK
Transaction Details
Admission Date 3 Oct 2001
Money raised at
admission
£0.3m
Market cap at
admission
£12.3m
Current Market cap £5,679m
NOMAD
JPMorgan
Cazenove
Company profile
ASOS is a global online fashion and beauty
retailer and offers over 50,000 branded and
own label product lines across womenswear,
menswear, footwear, accessories, jewellery
and beauty. It is the UK’s largest online-only
fashion and beauty store.
ASOS has websites targeting the UK, USA,
France, Germany, Spain, Italy and Australia
and also ships to over 190 other countries
from its central distribution centre in the UK.
ASOS attracts 18.8 million unique visitors a
month and as at 31 August 2012 had 9.2
million registered users and 5.0 million active
customers from 160 countries.
Listing story
ASOS was admitted to AIM in October 2001
raising £300k and with a market capitalisation
of £12.3m. ASOS is currently one of the
fastest growing UK online retailers and also
one of the biggest companies on AIM by
market cap at over £4.9bn.
comScore rankings for 15-34 year olds in
2012 showed ASOS as the most visited
fashion website daily.
At the time ASOS joined AIM in 2001, the
company had revenues of less than £1m and
was loss making. In 2012, the company
recorded strong profits and posted revenues
of £238m
Case Study:
Asos plc
Source: FactSet, Aprill 2014
Price performance rebased to 100 as of April 2009
22
Investor Name
Value held in
£m
Sleep, Zakaria & Co. Ltd. 281
Capital Research & Management Co. 251
Baillie Gifford & Co. 213
Standard Life Investments Ltd. 211
Fidelity Management & Research Co. 119
Capital Research & Management Co. 64
TIAA-CREF Investment Management LLC 44
State of Wisconsin Investment Board 43
OppenheimerFunds, Inc. 41
Jennison Associates LLC 33
0
500
1000
1500
2000
2500
Apr-09 Apr-10 Apr-11 Apr-12 Apr-13
ASOS FTSE AIM All Share Index
Pricerebasedto100
23. 23
LSE Equity Primary Markets Team
Global Head of Primary Markets Alastair Walmsley +44 (0)20 7797 1597 awalmsley@lseg.com
Relationship Management
Region Relationship Manager Telephone Email
UK Marcus Stuttard
Tom Attenborough
Lucy Tarleton
Mark Fahy
Claire Dorrian
+ 44 20 7797 3364
+ 44 20 7797 3747
+ 44 20 7797 4672
+ 44 20 7797 6396
+44 20 7797 2074
mstuttard@lseg.com
tattenborough@lseg.com
ltarleton@lseg.com
mfahy@lseg.com
cdorrian@lseg.com
Russia, CIS, Asia – Pacific
Jon Edwards (London)
Ayuna Nechaeva (London)
Maksim Kondratjuks
Yi Xie (HK)
+44 20 7797 1599
+44 20 7797 4386
+44 20 7797 4305
+852 3555 6395
jedwards@lseg.com
anechaeva@lseg.com
mkondratjuks@lseg.com
yxie@lseg.com
India, Middle East, Africa Ibukun Adebayo +44 20 7797 1085 iadebayo@lseg.com
Americas Alexander Lehmann (New York) +1 917 863 9100 alehmann@lseg.com
Continental Europe Luca Peyrano (Milan)
Axel Kalinowski
+39 0 272 426291
+44 20 7797 4108
lpeyrano@lseg.com
akalinowski@lseg.com
Product management and development
Market Product Manager Telephone Email
Main Market, PSM, SFM
and ATT Only
Joanne Dutton
Darko Hajdukovic
Marcello Sathya Cassanelli
Luca Broglio
+44 20 7797 3622
+44 20 7797 3306
+44 20 7797 3965
+44 20 7797 4274
jdutton@lseg.com
dhajdukovic@lseg.com
mcassanelli@lseg.com
lbroglio@lseg.com
AIM Umerah Akram +44 20 7797 4707 uakram@lseg.com
For further information refer to www.lseg.com