IPOs

HSS Hire and other IPOs

I am sometimes accused by my wife and colleagues of being a "wet blanket". In other words immune to the excitement of new ventures or ideas. But when it comes to IPOs that's probably the right frame of mind to have. I shall proceed to throw some cold water over the IPO of HSS Hire which is listing in early February if all goes according to plan - the prospectus for which is now available. Academics Elroy Dimson and Paul Marsh have recently ...

Royal Mail and Myners’ report on other Government sell-offs

The Government sell-off of a major stake in Royal Mail was controversial in many ways. It proved to be even more so when the placing price of £3.30 was rapidly eclipsed by a market price which rose to as high as £6 although it's been mostly downhill since (at the time of writing it's 420p). The long term holders who were given priority in the share allocation soon turned out to be anything but with 44% of the shares changing hands ...