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  • Dubai-based payments company Network International has kicked off investor education for its IPO on the London Stock Exchange, which is expected to value the business in the region of $3bn, according to a source close to the deal.
  • Oleg Tinkoff sold $150m worth of London-listed Global Depository Receipts in TCS Group Holding on, the Russian financial services company that controls Tinkoff Bank on Tuesday night.
  • The logic for a merger between Deutsche Bank and Commerzbank still looks far from convincing, despite the wishes of Germany’s political elite, writes David Rothnie.
  • Risk appetite in the equity blocks market in Europe has improved significantly, according to market sources, and a UK biomedical research charity is the latest vendor to take advantage of the better conditions by offloading a chunk of its stake in Syncona, the FTSE 250 life sciences investment company.
  • There was a dark mood in equity markets on Wednesday morning after the UK parliament rejected prime minister Theresa May’s negotiated Brexit withdrawal agreement by a huge majority for a second time. A possible delay to the UK's departure from the EU and all of the crippling uncertainty that entails is set to continue to hamstring equity capital markets.
  • Up Fintech, parent of online trading platform Tiger Brokers, has launched bookbuilding for a smaller-than-expected $91m IPO.
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