“Comment, question or quotation of the day”

22-06-2018 : Quote of the day

“A source of financing is considered cheap only if its net present value is negative”.  Pierre Vernimmen

21-06-2018 : Another IPO cancelled at the very last minute

Delachaux, the rail equipment supplier, which was to be listed on the stock market at the beginning of this week, to allow the LBO fund CVC to sell most of its stake of 49.9%, has announced last Thursday that it gives up its IPO because the Canadian investment fund CDPQ has just acquired the participation of CVC. This is a new illustration of the rise of these new players on the LBO scene that we highlighted in the June issue of the  Vernimmen.com newsletter and that upsets the scene of medium-sized LBOs, and that of IPOs.  The June issue has just been sent to its subscribers and is also available on the vernimmen.com website. Have a nice day


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The Vernimmen.com Letter

Number 114 of June 2018

News : New equity investors on the LBO market

Statistics : The continuing rise of intangible assets

Research : Does treating employees well create value?

Q&A : How do you manage the different entry prices in the successive fundraisings of a start-up?