16
th April 2021 8:00 am
Good morning and welcome to your Morning Briefing for Friday, 16 April, 2021. To get this in your inbox every morning click here.
Long live vertical integration?
Providers running in-house advice arms, platforms and model portfolios seem to have found a formula for success. But are their clients getting the short end of the stick?
Our in-depth feature takes a look at the future of vertical integration. Is a one-stop shop model appealing for all concerned?
Putting the trust in master trusts
Have we put too much trust in master trusts? Is the current system a problem waiting to happen? Will progressive organisations or the old-guard win out?
External | what does this mean?
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Allfunds indicative IPO price range implies market value of between €6.6 billion to €7.6 billion 3 hours ago
Source: Allfunds Allfunds this morning announces the indicative price range, publication of the Prospectus and start of the offer period of the planned Offering. Juan Alcaraz, Founder and CEO of Allfunds, comments:
“We’re hugely encouraged by the strong initial reaction to our IPO and welcome BlackRock, Jupiter, Mawer, Lazard and Janus Henderson Investors to our shareholder register as cornerstone investors. Allfunds has maintained very positive momentum through the first quarter of 2021, as we look to realise the fantastic opportunity ahead by offering best in class service for our clients, driving growth and continuing the journey we began in 2000. I look forward to the
GLOBAL MARKETS-Asia shares bounce on strong China trade data reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
MedCity News
Cancer biotech Tango Therapeutics picks a SPAC as its IPO dance partner
Tango Therapeutics’ SPAC merger will infuse the biotech with $353 million to fund clinical trials for its cancer drugs based on synthetic lethality. Tango’s lead program is on track to reach the clinic next year.
Shares0
Tango Therapeutics hasn’t yet reached the clinic, but the company is on track bring its lead program there soon, and when it does it will be supported by $353 million from a merger deal that takes the company public.
Cambridge, Massachusetts-based Tango announced Wednesday that it has agreed to combine with BCTG Acquisition, a special purpose acquisition company (SPAC). Such publicly traded companies serve as vehicles for other private companies looking for a way to join the public markets other than a conventional IPO.
SINGAPORE: South-East Asia’s biggest ride-hailing and food delivery firm Grab Holdings agreed to a merger yesterday with United States-based Altimeter Growth Corp in a deal that values Grab at an initial proforma equity value of about US$39.6bil (RM163bil) and will lead to a public listing.
The merger, the biggest blank-cheque company deal ever, underscores the frenzy on Wall Street as shell firms have raised US$99bil in the US so far this year after a record US$83bil fundraising in 2020.
The combined company is expected to receive approximately US$4.5bil in cash proceeds, including more than US$4bil from a fully committed private investment in public equity (PIPE) offering that was upsized due to significant investor interest.