CITY WHISPERS: London Stock Exchange boss says there is already interest from international companies looking to join the public-private exchange
London Stock Exchange boss Julia Hoggett says there is already interest from international companies looking to join the public-private stock exchange – the world’s first.
According to Hoggett’s sketch, it would function as a place for private companies to auction stock, similar to the mainstream market.
The plan is for the ‘Intermittent Trading Venue’ – essentially a halfway house between private markets and a listing – to be operational next year.
Sign up: Julia Hoggett says there is already interest from global companies looking to join the London Stock Exchange public-private exchange
The LSE is doing everything it can to boost the Square Mile and lure businesses to its platforms after a string of high-profile disapproval.
One crucial factor will help marketing: a good name. The initials ITV have clearly been used, so there’s a competition going on to find something spicy.
In the spirit of the competition to ultimately name the research vessel the RRS Sir David Attenborough, may we introduce Floaty McFloatface?
Megasteel pain
Further pain for the steel industry last week following the collapse of a bid for Wiltshire-based Megasteel from a company called, somewhat ironically, More Acquisitions.
Megasteel’s board had been bombarded with “abusive and threatening” vitriol by people claiming to be More Acquisitions shareholders.
Megasteel pulled the plug after eight months of meticulous due diligence.
Whispers hears murmurs that this has raised more than a few eyebrows among small-cap followers.
Ocado tops the most shorted list
You win some you lose some. Online grocer Ocado managed to avoid being demoted from the FTSE 100 in the latest London Stock Exchange index realignment.
British Land was booted out of the blue-chip club and into the mid-caps instead.
But Ocado has regained an unfortunate title and is once again rising to the top of the list of stocks with the most short positions in London, according to data from the Financial Conduct Authority.
It previously ranked second behind Asos, which lost its place in the FTSE 250 in the reshuffle.
Shares of Asos have plummeted this year, but a £75m fundraising last month has reassured investors and it’s no longer among the top ten stocks with the most short positions.
Popularity brings attention to Shein
The Chinese company Shein has quickly become the world’s most popular fast fashion brand. But with great popularity comes a lot of research.
A Channel 4 documentary released last October highlighted the long working hours and meager wages of factory workers in Guangzhou – which the company admitted and took steps to rectify the problem.
A new webinar – aptly titled Agile Supply Chain and the Future of the Fashion Industry – features Shein Vice President Donald Tang.
Will the group outline how to overhaul the fast fashion industry? Probably not. We can only hope.