OceanX: LatAm boom & gossip; MSC's rising logistics star; Trump-led blank sailings
Strictly on the QT!
© Khunaspix Dreamstime.
By Alex Lennane
It took just a few weeks into the new year for speculation over CEVA’s future to re-appear: the latest is that Apollo Global Management is to take CEVA public via a $1.5bn IPO before Easter.
Citing a “source close to the situation”, the New York Post says the decision has been made – and Apollo is “not looking back”.
Apollo, as usual, gave The Loadstar “no comment”. CEVA however, while pushing out the usual statement about not commenting on rumours, did not officially ...
Comment on this article
Yuki
February 12, 2018 at 12:40 amA person who worked in CEVA before
Mauro Pisegna
February 12, 2018 at 11:13 pmApollo’s plan for a Ceva IPO.
An interesting question to ask is how can Apollo proceed with an IPO, when they have significant legal action pending.
Apollo and Ceva are potentially likely to have breached their fiduciary duties to its past employee share/equity holders.
Apollo’s past activities, have forced previous employee equity holders to challenge the proposed IPO. Apollo refuse to address legitimate governance concerns and therefore any potential IPO may be saddled with risk.
Ale Pasetti
February 13, 2018 at 9:36 amWell, yes and no, Mauro. Is there risk in CEVA? Yes, but look at bond prices in the secondary market and you’ll find out investors are much more comfortable with its credit risk. Then to your point, in my experience legal action is highly unlikely to prevent an IPO and that kind of risk will be highlighted in the prospectus.