BIDV, Incombank name consultants (09-07-2007) HA NOI — Foreign consultants have been named to advise in the equitisations of the Bank for Investment and Development of Viet Nam (BIDV) and Incombank. Morgan Stanley Dean Witter Asia (Singapore) Pte will act as consultant for BIDV's equitisation this year, while JP Morgan Securities Asia Pacific Ltd will hold Incombank's hand during the process. Morgan Stanley lowballed other bidders, coming in with an offer of US$1.8 million for the contract, compared to as much as $7 million bid by UBS. Morgan Stanley also had the second-highest technical score of the leading bidders, at 76.5, coming in only behind Merrill Lynch, at 87.2. JP Morgan topped the technical score table in the Incombank bidding process, followed by Merrill Lynch and Lehman Brothers. Incombank chose not to disclose the amount of JP Morgan's winning bid. The two State-owned banks planned to sign contracts with their newly selected consultants later this week. The foreign … [Read more...] about BIDV, Incombank name consultants
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Manchester United picks NYSE for IPO
Manchester United Ltd picked the New York Stock Exchange to make its market debut, ending months of speculation over where the world's best-supported football club would list. The former English football champions pulled a planned $1 billion (637.3 million pounds) listing in Singapore because of market turmoil. It had earlier eyed a Hong Kong IPO. Thomson Reuters publication IFR reported last month that the football club had dropped its plans for an Asian listing in favour of a U.S. listing. Manchester United has a global fan base of 659 million, according to a survey commissioned by the club and carried out last year by market researcher Kantar. Almost half of United's supporters were in Asia-Pacific. "It remains to be seen how much the football club is going to benefit in the US where the sport is not very popular ... The perfect place for it to have listed should have been London," Jay Ritter, a University of Florida IPO expert told Reuters. The club, founded in 1878 as … [Read more...] about Manchester United picks NYSE for IPO