The five new initial public offerings bring to 12 the total number of IPOs for 2004 so far, raising in excess of £2.1bn. This compares well with last year?s total for the same period which was £1.4bn, of which £1.2bn was attributable to Yell.
Despite positive signs of an IPO recovery, KPMG maintains the market remains fragile.
Neil Austin, head of new issues at KPMG corporate finance, said: ?Although 2004 has been better than 2003 it is still a nervous market. Only quality companies are putting their heads over the parapet and even then there is often considerable debate about pricing, with issue prices very often being at a discount to valuations which were indicated initially.?
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements