LONDON (dpa-AFX) - TP ICAP plc (IAPLF.PK, IAPLY.PK, IAP.L) reported Thursday that revenue for the first nine months of 2020 was 2 percent lower on a reported basis and 1 percent lower on a constant
The person responsible for arranging and authorising the release of this announcement is Richard Cordeschi, Group Company Secretary of TP ICAP. IMPORTANT NOTICE This announcement has been issued by, and is the sole responsibility of, TP ICAP. No representation or warranty, express or implied, is or will be made by, or in relation to, and no responsibility or liability whatsoever is or will be accepted by Merrill Lynch International ( BofA Securities ) (as Joint Bookrunner and Lead Financial Adviser to TP ICAP), HSBC Bank plc ( HSBC ) (as Sole Sponsor, Sole Global Co-ordinator, Joint Bookrunner and Financial Adviser to TP ICAP), J.P. Morgan Securities plc ( J.P. Morgan ) (as Joint Bookrunner to TP ICAP) and Peel Hunt LLP ( Peel Hunt ) (as Joint Bookrunner to TP ICAP), or any of their respective directors, officers, employees or advisers, or by any of their respective affiliates or agents, or any of their respective director
TP ICAP launches rights issue to fund Liquidnet deal
Interdealer broker TP ICAP has launched a rights issue to fund its acquisition of electronic trading network Liquidnet.
Interdealer broker TP ICAP is seeking a £315m rights issue to fund its acquisition of electronic trading network Liquidnet Holdings.
The rights issue is expected to result in the issue of 225.3m shares for qualifying shareholders equivalent to 40 per cent of the existing share capital base.
The FTSE-250 listed firm announced the deal in October as it looks to diversify beyond its current offering. Liquidnet primarily makes money from equities but TP ICAP will use its technology and global buyside customer base to boost revenues.
9 October 2021 (1) Subject to certain restrictions relating to Overseas Shareholders. Further information will be contained in the Prospectus. Each of the times and dates in the above timetable is subject to change in which event details of the new times and dates will be notified to the Financial Conduct Authority, the London Stock Exchange and, where appropriate, Qualifying Shareholders through a Regulatory Information Service. References to times are to London time unless otherwise stated. 1. GBP:USD exchange rate of 1:1.35286 2. This reflects an update from the previously announced EV/EBITDA multiple as a result of (i) the conversion of Liquidnet s financial results to the IFRS accounting standard and (ii) update of Liquidnet s Adjusted EBITDA to LTM September 2020 from LTM June 2020.
Top UK Stocks to Watch: Sainsbury’s upgrades guidance as sales soar
Joshua Warner January 7, 2021 9:06 AM
Sainsbury’s raises its guidance after sales rise over Christmas, Entain bids for Enlabs, B&M pays another special dividend, and Mitchell & Butlers considers raising equity to survive the latest lockdown. Share:
Top News: Sainsbury’s upgrades guidance as sales soar
Sainsbury’s said it expects underlying pretax profit to be £330 million this year, 22% higher than its previous target of £270 million.
The upgrade came as
Sainsbury’s sales surged higher over the Christmas period. The country’s second-largest supermarket chain said like-for-like (LfL) sales were up 9.3% over Christmas. Overall sales in the third quarter increased 6.8% while LfLs rose 8.6%. Grocery sales were up 7.4%.