VENTURE CAPITAL POST

Seplat Petroleum Development Company has set its price for an IPO at USD1.67 per piece with dual listings on the Nigerian Stock Exchange and the London bourse, reported Ventures Africa.

The first renminbi qualified foreign institutional investor exchange traded fund or RQFII ETF listed in the London Stock Exchange was launched by Hong Kong-based CSOP Asset Management and London-based Source, Reuters reported.

Stockholm-based private equity firm EQT Partners intends to list British food outlet operator SSP on the London Stock Exchange in June this year. The food outlet operator could be worth £2 billion ($3.3 billion).

Bank of China UK on Wednesday issued $413 million worth of yuan-denominated bonds in London, as China seeks to increase the international usage of its currency for trade and investment. Bank of China also said that the bond will list on London's bourse.

England, UK-based specialty medical device maker Lombard Medical Technologies PLC plans to pursue an initial public offering (IPO) and listing of ordinary shares in the US.

TVM Capital MENA chairman and chief executive officer Dr Helmut Schuehsler offered words of caution to companies in the Gulf region who decides to get listed on foreign exchanges.

German pharmaceutical company Merck KGaA will acquire AZ Electronic Materials for GBP1.6 billion. Merck will pay AZ's existing stockholders GBP403.5 in cash for each share.

Private equity firm TDR Capital will sell half of its entire stake in insurance company Phoenix Group for about GBP127 million. TDR will sell 18 million shares out of its total 35.9 million shares in Phoenix.

Servelec's initial public offering is said to be the largest technology listing in the UK in three years. The software and services company is expected to float 68.3 million shares worth GBP122 million on the London Stock Exchange.

Online music platform company 7Digital is close to signing a deal to buy out UBC Media Group. The takeover deal will provide a London listing for 7Digital in place of UBC. Should it be successful, the float could give 7Digital a valuation of about GBP50 million.

Telecommunications and information technology (IT) service provider Coms PLC announced that it has completed the acquisition of Redstone Converged Solutions Ltd in a deal valued at GBP9.5 million.

British financial institution Lloyds Banking Group Plc will reportedly put up for sale 30% to 50% of its stake in 631 bank branches. The said bank branches are being rebranded as TSB, which is expected to float on the stock market middle of next year.

A most notable reason of Russian oil company Bashneft planned to launch an initial public offering was to avoid the chances of a hostile takeover by a potential investor, said one investment firm analyst.

England-based Thomas Cook's chief executive Harriet Green announced the sale of its foreign exchange unit to Moneycorp, a rival backed by the Royal Bank of Scotland.

Debuts of Infinis Energy, Just Retirement and TCS Group on the London Stock Exchange were less than outstanding, according to a report by The Independent.