Screen Shot 2018-04-20 at 11.59.35
© Hieronymusukkel & CEVA

A banker’s dream, when he leads a challenging deal that aims for a top-end valuation, is to be able to share news with his investors that could render it a deal to remember.

So, can you imagine what kind of boost the arrangers of an IPO can get when a listing is launched along with the announcement that a trade buyer is snapping up a large stake in the business?

Enter CMA CGM and CEVA Logistics: quite simply, today’s announcement that the ocean ...

Subscription required for Premium stories

In order to view the entire article please login with a valid subscription below or register an account and subscribe to Premium

Or buy full access to this story only for £13.00

Please login to activate the purchase link or sign up here to register an account

Premium subscriber
New Premium subscriber REGISTER

Comment on this article

You must be logged in to post a comment.
  • Alan

    April 24, 2018 at 7:04 am

    But by having CMA as a large shareholder, you remove the chance that trade buyers will eventually bid for CEVA, so you remove the chance that it’s new other shareholders will ever receive a takeover premium. CMA acquire effective control, without paying a premium

    • Ale Pasetti

      April 25, 2018 at 1:53 am

      That is true, Alan. There’s no/ M&A premium priced-in at IPO, in fact. This remains a working capital story, one with a much-stronger BS than pre-IPO.