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The fun news, and frankly a gift for Saturday’s paper, is that Stanley Gibbons is enjoying massive demand for stamps and other collectables such as autographs. To capitalise on this, the company wants a big deal to expand abroad. Stand by for lots on this in Lombard: Andrew Hill’s son has just started stamp collecting.
David Montgomery’s vehicle, Mecom, is raising £570m through a placing and open offer, mostly to fund buying control of the publisher of Berliner Zeitung, although he will have about £280m left over for other acquisitions. The issue will double the group’s existing share capital.
Safestore, the self-storage company chaired by John von Spreckelsen, will be floated on London’s main stock market with a market capitalisation of about £449m after it priced its initial public offering today at £2.40 a share. The company had been aiming for a range of £2.10-£2.70.
Rumour of the day: Neil Hume is picking up an interesting angle on Persimmon’s decision yesterday to drop ABN Amro Hoare Govett as its broker. Hoare Govett is also broker to rival housebuilder Bovis Homes, whose shares spiked yesterday. The feeling is that perhaps Persimmon had to drop Hoare’s because it is working on a bid for Bovis.