Canary Wharf IPO raises more than $1.3-billion

Article Abstract:

Real property developer Canary Wharf Group PLC has completed its initial public offering of 167 million shares at 330 pence (C$8.14) per share to raise GBP551 million (C$1.36 billion). The offering, which was made to British and foreign institutional investors, was heavily oversubscribed. The shares will be officially listed on the London Stock Exchange on Apr 1, 1999. Canary Wharf is currently developing the 81-acre office and commercial development in London's Dockland district.

Subdividers & Developers

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Canary Wharf share offering priced

Article Abstract:

Canary Wharf Group PLC, a property development firm led by Paul Reichmann, hopes to raise up to GBP585 million ($1.45 billion) from its initial public offering (IPO). The IPO will sell 25% of the company to institutional investors in the UK and markets oustide the US, Japan and Canada. The IPO's final pricing is expected on Mar 26, 1999. Morgan Stanley & Co International Ltd and Cazenove & Co are leading the underwriting group handling the offering.

Office & Commercial Developers

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British firm fires employees via cellphone text

Article Abstract:

Accident Group have fired some of its employees by way of a cellphone text message. The personal injury claims firm fired many of its 2,000 laid off employees with a text message saying, "Don't contact the office. Salaries will not be paid."

Legal services, Offices of Lawyers, Public affairs, Personnel administration, Ethics, Human resource management, Ethical aspects, Company personnel management, Layoffs, Layoff, Accident Group

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