Dubai Hotel Company Plans To Go Public: BrokerDealer IPO news

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Brokerdealer.com blog update courtesy of Bloomberg LP extract:

Emaar Properties PJSC (EMAAR), Dubai’s only listed developer to survive the property crash without an annual loss, plans to sell shares in its hotel business after its malls unit became the emirate’s biggest public offering since 2007.

The company will announce the hotel sale “in the next few months,” Chairman Mohamed Alabbar said at a conference in Dubai today, less than seven hours after Emaar said it raised $1.6 billion from the share sale of its malls unit. Alabbar declined to provide more details on the IPO.

These companies “reflect the true contributing sectors of Dubai’s economy,” Tariq Qaqish, head of asset management at Dubai-based Al Mal Capital PSC, said by phone from Dubai. Because of high occupancy levels and “proximity to malls, Emaar Hotels translates to solid revenue per room,” he said.

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Alibaba IPO: Minority BrokerDealer Owned by Service-Disabled Vets Wins IPO Selling Group Mandate

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Courtesy of CNBC coverage (see below clip), Mischler Financial Group, the financial industry’s oldest minority broker-dealer owned and operated by service-disabled veterans was one of the few minority broker-dealers chosen by Alibaba executive management to serve as a member of the selling group for the world’s largest IPO to date. BrokerDealer.com salutes the capital markets and syndicate team at Mischler Financial.

Initial Public Offering for Rocket Internet plans for end of year launch

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Brokerdealer.com blog post comes courtesy of techcrunch.com 

After much speculation, German super-incubator and clone factory Rocket Internet has confirmed that it plans to launch an initial public offering later this year on the Frankfurt Stock Exchange. Rocket Internet intends to raise up to $970 million in the IPO and plans to use the proceeds to “finance its future growth through the launch of new businesses and [provide] further equity capital to its network of companies.”

All of Rocket Internet’s existing shareholders, including Global Founders (the investment vehicle of Rocket Internet’s founder and CEO Oliver Samwer and his brothers), Investment AB Kinnevik, Access Industries, Philippine Long Distance Telephone Company, United Internet, and HV Holtzbrinck Ventures, will continue to remain invested in the company and not sell any shares as part of the offering, which will consist only of new shares.

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LendingClub IPO to benefit Silicon Valley Banking Style

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BrokerDealer.com blog post courtesy of extract from cnbc.com and Ari Levy 

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Alibaba has dominated the IPO headlines since the Chinese e-commerce and digital marketplace behemoth filed for a U.S. initial public offering in May. But it’s the coming share sale of another online marketplace that likely has greater relevance to Americans.

LendingClub, the largest U.S. provider of peer-to-peer loans announced plans Wednesday to raise $500 million in an IPO. Located in San Francisco, clear across the country from the nation’s money hub of Wall Street, Lending Club has gained popularity by focusing on a piece of the financial universe that the banking industry has long neglected: consumer loans. Continue reading →

Southeastern Grocers Steps Out of IPO

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247 Wall StBrokerDealer.com blog post courtesy of extract from 247wallst.com and Jon C. Ogg

 

 

A form “RW” was filed with the Securities & Exchange Commission by a company named Southeastern Grocers LLC on Tuesday. While this might not sound like much to most people, this means that the current owner and operator of supermarket chains Winn-Dixie and BI-LO has now formally withdrawn its plans to conduct an initial public offering. Southeastern Grocers is based in Jacksonville, Florida and it had first initially filed with the Securities & Exchange Commission almost a full year ago to conduct an initial public offering for up to $500,000,000 worth of common stock.

The original filing showed that the underwriters hired for the offering were to be Citigroup, Credit Suisse, Deutsche Bank Securities, William Blair, and Wells Fargo Securities. Do we dare ask if their salespeople couldn’t sell yet one more grocery chain to the public – particularly one that had previously filed for bankruptcy.

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