The afternoon deal: When to go to market

February 19, 2010

GERMANYRunning the gamut from “bloodied” private equity firms to an oversubscribed Man Infra initial public offering, stories from today show the IPO market is on shaky ground and, as always, finding the right valuation is vitally important.

IPO stories from the Web:

Bloodied buyout firms sit tight for IPO return (Reuters)
“Private equity firms are putting flotation candidates back in the box after receiving knock backs from angry fund managers, and will try again in a couple of years when they hope the market will be more receptive,” reports Reuters.

Mega IPO of AIG’s AIA unit faces headwinds (Reuters)
“For handlers of AIG’s massive IPO of its Asian life insurance unit, getting investors to recognize the name and the size of the business is the easy part,” reports Reuters

No IPO in 2010, Yelp Says (WSJ)
“Investors hungry for Yelp shares might have to dine elsewhere for now,” reports the WSJ

Barrick’s African gold IPO will raise quick USD 1bn cash, minimum (Mineweb)
“While a good number of reasons have been given for listing African Barrick Gold, it may be a sign that Barrick itself has become too big,” reports Mineweb

Barrick Gold $3.7bn African spin-off looks to join FTSE 100 (Telegraph)
“Investors are crawling over me to buy shares in mining companies at the moment,” John Meyer, head of mining at broker Fairfax told the Telegraph.

Man Infra IPO subscribed; should you invest? (
“Experts and brokerages views were mixed on this IPO. Investment Advisor, SP Tulsian said the issue looked expensive while Manish Bhatt of Prabhudas Lilladher said one could subscribe,” reports

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