Floating companies on the stock exchange is all the rage. Lloyds Banking is reportedly set to follow the trend and so is media group UBC.
The Sunday Telegraph revealed that Lloyds Banking Group (LON:LLOY) will probably sell 30% to 50% of its holding in the TSB group when it floats in the middle of next year.
TSB is the entity that comprises the 631 bank branches that Lloyds had to set free under orders from the European Commission in the wake of the bank’s massive bail-out from the UK government.
A flotation of a smaller scale is being plotted by UBC Media Group (LON:UBC), which has signed a letter of intent to buy privately owned 7digital, owner of a widely-used digital music technology platform.
UBC wants to merge 7digital with its own assets, including audio social networking platform Audioboo, and create a company with customers that include the BBC, Yahoo!, Samsung and HTC, operating in 42 countries, with nearly five million registered users and with its services loaded on 60 million mobile devices.
The new company would then seek a stock exchange listing.
Other stories attracting the stock-picking mouse-clicking fraternity include engineer Babcock (LON:BAB), which is in talks over a joint venture with helicopter group Avincis, and Cupid (LON:CUP), the online dating firm that has announced a change at the top.
Babcock’s move to take a stake in Avincis failed to float the boat of the stockbroking community.
Shares in Cupid, meanwhile, were down 2.6% at 56p in lunch-time trading on news that chief executive officer Bill Dobbie is set to bow out.
He will be replaced by Phil Gripton, who has been managing director of Cupid’s Dating Services for the past year. He was “deeply involved” in the divorce of the company’s so-called casual dating sites, such as benaughty.com and flirt.com, and remains active in the subsequent separation activities, Cupid said.
Dobbie will remain on the board as a non-executive director.
Just creeping into the top 10 of a well-known investment site’s list of most active message board discussions is EMED Mining, the company that is hoping to revive the world-renowned Rio Tinto mine in Andalucía.
Maria José Asensio, the general director of Industry, Energy and Mines in the Andalusian government, gave a Spanish press interview over the week-end in which she hinted the long-awaited approval could come before Christmas.
Anything to do with the Falkland Islands seems to get the small-cap fans clicking, and today it is the turn of Falkland Island Holdings (LON:FKL) to enjoy a spell in the spotlight, as it released half-year results.
Group revenue was up by 4.4% to £17.24mln while underlying profit before tax jumped 14.8% year-on-year to £1.37mln.