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initial public offering

Why the rise of new money is driving a surge in Asian family offices

April 25, 2023

Jefferson Sun, founder and CEO of Fargo Wealth Group, talks about how the past ten years have been a golden decade for Chinese entrepreneurs and what local governments are doing to help establish a raft of new family offices as a result.

Having seen a rise in demand for flexibility within a traditionally rigid banking system, Fargo Wealth Group was established to offer a wide range of expertise to ultra-high-net-worth (UHNW) individuals and families - from wealth management to asset management and family office services to FinTech innovation.

FB Roundup: Mukesh Ambani, Vincent Bolloré, Jack Ma

January 10, 2023

In this week’s FB Roundup, Mukesh Ambani focusses his attention on green energy; Vincent Bolloré sells his African ports and logistics business to MSC; and Jack Ma surrenders control of China's Ant Group.

Mukesh Ambani focusses attention on green energy
After handing over operational reins to his three children, Mukesh Ambani, the billionaire chairman of Mumbai-based multinational Reliance Industries, has announced he is focusing his attention on the Indian conglomerate’s pivot to green energy.

FB ROUNDUP: Tamara Ecclestone, Jack Ma, Yang Huiyan

August 1, 2022

In this week’s FB Roundup, Bernie Ecclestone's daughter offers a $7.2 million reward for stolen jewellery; tech tycoon Jack Ma plans to transfer control of the fintech giant Ant Group; and Yang Huiyan, Asia's richest woman, loses half her wealth in China's property crisis.

Bernie Ecclestone's daughter offering $7.2 million reward for stolen jewellery
Tamara Ecclestone, the daughter of British billionaire and ex-Formula One boss Bernie Ecclestone, has made a public offer of up to $7.2 million for information leading to the recovery of jewellery worth more than $31 million.

FB Roundup: Gautam Adani, Todd Boehly, Guy Hands

May 25, 2022

In this week’s FB Roundup, Gautam Adani’s family office invests in an Abu Dhabi petrochemicals firm; the Todd Boehly-led consortium is officially approved as new Chelsea FC owners; and British tycoon Guy Hands bids to buy Butlins holiday camps.

Gautam Adani’s family office invests in Abu Dhabi petrochemicals firm
The family office of Asia’s richest man, Gautam Adani, has committed to invest $75 million in an Abu Dhabi-based petrochemicals firm as part of a $2 billion initial public offering (IPO) - the biggest-ever listing in the United Arab Emirate (UAE) state.

FB Roundup: Volkswagen’s Porsche IPO, Buffett’s alternative energy group, Swedish billionaires’ African tech VC fund

February 22, 2022

In this week’s FB Roundup, Volkswagen is looking to float its Porsche brand in a potential IPO; Family offices are investing in a Buffett-led alternative energy group; and a Swedish billionaire fund backs new African tech VC investment.

Volkswagen looking to float Porsche brand in potential IPO

Car manufacturer Volkswagen is in “Advanced discussions” to float its Porsche brand in what could result in one of the largest initial public offerings (IPOs) in Germany for years.

VW, the world’s second-largest carmaker by volume released a statement saying that it was in talks with its majority shareholder, Porsche SE - the German holding company owned by the founding family of Ferdinand Porsche.

Evoking memories of the South Sea Bubble… both bad and good

February 18, 2021

We all know that 2020 was an incredible, and terrible, year. The pandemic caused the worst recession for centuries, along with an appalling death toll and suffering. Meanwhile financial assets pushed ever upwards, surfing a wave of liquidity meant to counteract the impact of the pandemic.

The chart below shows that it was also a record year for share issuance, surpassing even the heady days of 1999-2000.

Essar Group’s family considers infrastructure IPO

October 4, 2011

India’s family-controlled Essar Group is considering listing its infrastructure and ports division in London, with the aim of raising additional capital for further expansion.

The Mumbai-based company, whose operations span steel manufacturing to shipping, is eyeing an initial public offering by early 2012, according to a report in Bloomberg.

Glazer family ‘to relinquish sole ownership of Manchester Utd’

August 17, 2011

The Glazer family is preparing to give up sole ownership of Manchester United, with reports suggesting a partial flotation of the British football club is likely.

An initial public offering in Singapore, which could raise up to $1 billion, is reportedly being considered and could take place by the end of the year depending on market conditions.

The cash could come as a welcome relief to the debt-ridden club, which is currently forking out £45 million a year in interest on its deficits.

Billionaire heir makes a tasty profit from Ocado listing

July 21, 2010

Jörn Rausing, one of the heirs to the Tetra Pak fortune, has made a tidy sum from one of the few initial public offerings on the London Stock Exchange this year.

Jörn Rausing, one of the heirs to the Tetra Pak fortune, has made a tidy sum from one of the few initial public offerings on the London Stock Exchange this year.

Rausing is thought to have made around £50 million from his initial 7% stake in Ocado, the groceries delivery firm, when it listed in London today. This initial stake cost Rausing around £15 million when he bought the shares back in 2003.