LONDON (AFX) - British investors are poised for a bumper summer of stock-market floats, with billions of pounds expected to be raised in a flurry of deals involving domestic and foreign companies, the Sunday Times reported, citing sources close to one of the deals.
Petroplus, the oil company that owns Britains biggest refinery, on Teesside, is about to appoint advisers for a flotation that could value it at about 500 mln stg, the newspaper said. The company, which was taken private five years ago by a consortium that included private-equity group Carlyle, has yet to decide whether to list in London or elsewhere in Europe, the report said.
The aircraft maintenance company SR Technics, which emerged from the collapse of Swissair in 2002, is evaluating a possible 1 bln usd (540 mln stg) flotation, the Sunday Times added. It has hired NM Rothschild and Wyvern Partners to work on the listing, which could take place before the end of this year, according to the newspaper.
Meanwhile, Dixy Retail, one of Russias largest store groups, has lined up Citigroup and Deutsche Bank to act as joint bookrunners for a float on the London Stock Exchange within weeks, according to sources close to the situation, the Sunday Times said.
Finally, a Ukrainian chicken farmer is also set to raise money in London, the Sunday Time said. Unperturbed by the global concern about avian flu, Myronivsky Hliboproduct has hired Morgan Stanley and Renaissance Capital to push ahead with a London float, which is planned for the late summer. nick.huber@afxnews.com nh/ak COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited