ETX Capital Sets Up Greymarket Trinity for Latest Flurry of UK IPOs
March 4, 2014 2:42 pm
ETX Capital is providing clients the opportunity to spread bet on or trade CFDs for three hotly awaited IPOs expected to debut in the second and third quarter of 2014. After last year’s success of Twitter, Foxtons and Royal Mail greymarket listings, ETX Capital again this year is quick on the mark with upcoming IPOs. King Digital Entertainment, the makers of mobile gaming sensation Candy Crush, announced their intention to float the shares in New York. Closer to home, specialist retailer Pets At Home and high street discount giant Poundland have both announced plans to come to the market.
The UK IPO market is heating up; private companies with hoards of cash on their books are looking to take advantage of the strengthening UK economic recovery. Private equity firms, such as KKR, the owner of Pets at Home, need to return value to their investors; a challenge many PE firms faced during the height of the recession. ETX Capital believes the upcoming IPOs present an exclusive opportunity for clients to get involved with greymarket listings before their respected debuts.
As such, ETX Capital created greymarket listings based on market capitalisation. King Digital Entertainment is being valued up to $6billion; Pets at Home, valued at £1.5billion and Poundland, valued between £700million to £750million.
Ishaq Siddiqi, market strategist at ETX Capital said: “We are excited about these upcoming IPOs which could herald the return of the vibrant UK IPO market which has dried up during recent years. These three companies have shown the necessary resilience required to thrive during a tough financial period and we look forward to watching their direction in the upcoming months. Once again, we are at the forefront of UK greymarket initiatives, giving our clients the opportunity to get ahead of IPO’s. Further, setting up greymarket listings allow us to understand sentiment and demand ahead of the IPO debuts.”
Our current spread for King Digital Entertainment is between $6.5billion to $8.5billion; Pets at Home between £1.2billion to £2.0billion and Poundland between £825million to £875million.
King Digital Entertainment is looking to raise $500million through the IPO. King’s adjusted earnings before interest, tax, depreciation and amortisation rose from $4million in 2011 to $825million in 2013, according to its prospectus. Full-year sales rose to $1.8billion with pre-tax profit of $714million. Pets at Home is looking to raise £275million through the IPO. The company was brought by private equity firm Bridgepoint for £230million in 2004 and then by KKR which acquired the chain for £955million 2010. Pets at Home said LFL revenues had grown 2.4% and underlying earnings by 11.1% to £87million in the 40-week period to January 2. Poundland sales rose by 15% to £880million in the year to March 31, with underlying earnings before interest and tax up 15.6% to £45.4million.
If you would like any further information regarding our three spreads or would like to trade the company’s Greymarket listing, please contact our trading desk on +44 (0)20 7392 1434.
ETX Capital, a regulated global financial services firm, providing institutional, high net worth and retail customers with multi-asset and multi-market derivative dealing capability through CFDs and financial spread betting products. The firm uses cutting edge technology and delivers unrivalled levels of customer support from knowledgeable staff and with the utmost client confidentiality. Risk Warning: Financial spread betting & CFD trading can result in losses that can rapidly exceed your initial deposit.
ETX Capital is providing clients the opportunity to spread bet on or trade CFDs for three hotly awaited IPOs expected to debut in the second and third quarter of 2014. After last year’s success of Twitter, Foxtons and Royal Mail greymarket listings, ETX Capital again this year is quick on the mark with upcoming IPOs. King Digital Entertainment, the makers of mobile gaming sensation Candy Crush, announced their intention to float the shares in New York. Closer to home, specialist retailer Pets At Home and high street discount giant Poundland have both announced plans to come to the market.
The UK IPO market is heating up; private companies with hoards of cash on their books are looking to take advantage of the strengthening UK economic recovery. Private equity firms, such as KKR, the owner of Pets at Home, need to return value to their investors; a challenge many PE firms faced during the height of the recession. ETX Capital believes the upcoming IPOs present an exclusive opportunity for clients to get involved with greymarket listings before their respected debuts.
As such, ETX Capital created greymarket listings based on market capitalisation. King Digital Entertainment is being valued up to $6billion; Pets at Home, valued at £1.5billion and Poundland, valued between £700million to £750million.
Ishaq Siddiqi, market strategist at ETX Capital said: “We are excited about these upcoming IPOs which could herald the return of the vibrant UK IPO market which has dried up during recent years. These three companies have shown the necessary resilience required to thrive during a tough financial period and we look forward to watching their direction in the upcoming months. Once again, we are at the forefront of UK greymarket initiatives, giving our clients the opportunity to get ahead of IPO’s. Further, setting up greymarket listings allow us to understand sentiment and demand ahead of the IPO debuts.”
Our current spread for King Digital Entertainment is between $6.5billion to $8.5billion; Pets at Home between £1.2billion to £2.0billion and Poundland between £825million to £875million.
King Digital Entertainment is looking to raise $500million through the IPO. King’s adjusted earnings before interest, tax, depreciation and amortisation rose from $4million in 2011 to $825million in 2013, according to its prospectus. Full-year sales rose to $1.8billion with pre-tax profit of $714million. Pets at Home is looking to raise £275million through the IPO. The company was brought by private equity firm Bridgepoint for £230million in 2004 and then by KKR which acquired the chain for £955million 2010. Pets at Home said LFL revenues had grown 2.4% and underlying earnings by 11.1% to £87million in the 40-week period to January 2. Poundland sales rose by 15% to £880million in the year to March 31, with underlying earnings before interest and tax up 15.6% to £45.4million.
If you would like any further information regarding our three spreads or would like to trade the company’s Greymarket listing, please contact our trading desk on +44 (0)20 7392 1434.
ETX Capital, a regulated global financial services firm, providing institutional, high net worth and retail customers with multi-asset and multi-market derivative dealing capability through CFDs and financial spread betting products. The firm uses cutting edge technology and delivers unrivalled levels of customer support from knowledgeable staff and with the utmost client confidentiality. Risk Warning: Financial spread betting & CFD trading can result in losses that can rapidly exceed your initial deposit.
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