Jefferies wins Nordgold brokership after Hoare Govett buy
Nordgold, the $2.5bn mining business spun off by Severstal, on Monday appointed Jefferies Hoare Govett as its corporate broker following its London listing in January. The win is an early return for Jefferies on the acquisition of the corporate broking business, giving it a client known for its M&A activity as well as the potential for secondary sales in a stock with a very low free float.
Pitches for the Nordgold broking mandate were made just a couple of weeks after Jefferies acquired the Hoare Govett business from Royal Bank of Scotland at the beginning of February, said a Nordgold spokesman.
Jefferies already had a strong relationship with the company Peter Bacchus, its global head
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