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Blackstone's Cirsa plans IPO in Spain

Blackstone's Cirsa plans IPO in Spain

Reuters3 days ago

June 18 (Reuters) - Blackstone's (BX.N), opens new tab Cirsa plans to list on the Spanish stock exchanges with an offering size of about 460 million euros, a bookrunner on the deal said on Wednesday.
Spanish gambling company Cirsa plans to use to proceeds of the initial public offering to boost growth and repay debt, according to the bookrunner.

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Israeli tech giant delays £300m City float as Iran conflict escalates
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Telegraph

timean hour ago

  • Telegraph

Israeli tech giant delays £300m City float as Iran conflict escalates

An Israeli technology business has delayed plans to list on the London Stock Exchange after escalating tensions in Iran rocked global markets. Waves, which specialises in audio software, is now hoping to float the business by October, having previously aimed for as early as this month. It marks a fresh setback for the beleaguered stock market, as the Tel Aviv-based company's planned £300m deal has been one of the few listings poised to take place in London. Bankers at Panmure Liberum are still working on the deal, although they have pushed back the completion date while market conditions remain challenging. Israel's conflict with Iran has also contributed to the decision, as geopolitical volatility has rattled traders around the world. Oil prices have surged in response to the conflict, while gold has edged close to a fresh record high as investors seek safe haven assets. Stock markets have largely shrugged off the war since the initial strikes carried out by Israel, but investors remain nervous about the prospect of US involvement. Waves, which was set up in 1992 and employs more than 200 people, sells its audio software technology globally. Details of its proposed listing first emerged this year, when it was reported that bosses were assembling a board that could smooth Waves's transition to a public company. Gavin Patterson, the former BT chairman, has been sounded out as a potential candidate to chair the business. Eventual completion of the deal will provide the Square Mile with a rare boost as it battles a dearth of new listings and an exodus of existing companies. Pressure on the London Stock Exchange has also intensified in recent weeks after a string of tech companies announced plans to leave the market or seek listings elsewhere. This includes British fintech champion Wise, which confirmed this month that it plans to move its main listing to New York. Charles Hall, of Peel Hunt, said this month: 'Urgent action is required if we want a healthy UK equity market that supports our listed companies and encourages the next generation of companies to list.' Last month, the US private equity billionaire Orlando Bravo also claimed the London stock market was in need of 'major' reforms to be able to compete internationally.

Wirral Council's debt increases by £233m in six months
Wirral Council's debt increases by £233m in six months

BBC News

time2 hours ago

  • BBC News

Wirral Council's debt increases by £233m in six months

Wirral Council's net debt has increased by £233m in six months, with the expectation more borrowing is on the figure was revealed during a meeting about the authority's treasury management strategy.A summary published by the local authority showed that between September 2024 to March 2025 there was a £25m increase in spending on Public Finance Initiatives (PFI), £73m in borrowings, and a drop of £8.2m in £152.5m of the £233m was due to changes to PFI liabilities, and accounting rules which mean rent costs must be listed on the council's balance sheet both as an asset being leased and the future lease payments. PFIs was a government policy launched in 1992 where a private firm was contracted to deliver a public project while the costs were then paid back over several years. Wirral Council said the PFIs had to be reassessed to take inflation into account. 'Long-term stability' Changes to debt borrowing have been blamed on accountancy rule changes, capital projects such as regeneration, and temporary loans taken from other councils, the Local Democracy Reporting Service report said: "The council's chief objective when borrowing has been to strike an appropriately low risk balance between securing low interest costs and achieving cost certainty."The council's borrowing strategy continues to address the key issue of affordability without compromising the longer-term stability of the debt portfolio."It said external borrowing may have to increase in the future and the decrease in investments was because the council was having to use that funding for service needs.A Policy and Resources committee meeting will further discuss the council's finances on 26 June . Listen to the best of BBC Radio Merseyside on Sounds and follow BBC Merseyside on Facebook, X, and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230.

States and cities where debt collection calls are surging
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Daily Mail​

time16 hours ago

  • Daily Mail​

States and cities where debt collection calls are surging

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