Word: ipos
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...head of Morgan Stanley's investment-banking efforts in India, Kidwai, 45, recently guided that country's fastest-growing telecommunications company, Bharti Tele-Ventures, through its IPO. Her unit also managed an IPO for software provider i-flex solutions at the height of fears of an India-Pakistan war. When she needs to unwind, which is often, Kidwai loves to hike the Himalayan foothills...
...downgraded Tyco's debt, fueling worries that the company, which is trying to trim its $27 billion in debt--$12.8 billion of it coming due in the next 18 months--could be caught in a cash squeeze. Tyco announced last week that it may have to delay the IPO of its CIT financial division--which was expected to raise $5 billion in cash--because of concerns...
...departments of Transportation and Justice are officially examining the site for possible antitrust violations. Orbitz executives retort that their site has energized the online travel industry and point out that the DOT examined their business model last year and found no anticompetitive actions. Late last month Orbitz announced an IPO it hopes will raise $125 million...
...resolve the analyst flap, which, layered on top of the accounting concerns springing from the Enron scandal, is driving investors away. To help regain their confidence, brokerage firms are making a show of efforts to reform. Last week UBS Warburg initiated its coverage of JetBlue Airways--a firm whose IPO it co-managed last month--by advising investors to "reduce" their holdings. It was apparently a pre-emptive move, to show regulators that UBS Warburg is indeed capable of using the word sell...
Ferrari chairman Montezemolo, 54, wants to take the fabled racing-car firm public. Funds from the IPO would go toward setting up theme parks and, in the U.S., Europe and Asia, a string of retail stores--which is not to say he's sick of selling cars. Last year Ferrari logged record sales, and after a 12-year hiatus, is reintroducing the U.S. to the Maserati. Orders for the $89,315 Spyder are pouring in by the hundreds...