UK: CARPHONE WAREHOUSE LOCKS-IN RETAIL INVESTORS

Article Abstract:

Carphone Warehouse, the UK mobile phone retailer, is giving preferential treatment for retail investors that opt for a three-month lock-in ahead of its GB[pound] 2bn flotation. The device is an attempt to combat share price volatility and over subscription. Private investors who opt for the lock-in will be preferred when shares are allocated. This is the first time that this has been used for a large initial public offering and will deter short-term investors. Analysts have misgivings about the GB[pound] 1.6bn to GB[pound] 2bn valuation. This would value the company at 49 times its GB[pound] 41mn profits for the year to March 25 and three times for its GB[pound] 698mn sales.

Financial management, Carphone Warehouse Group PLC

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UK: JESSOPS REVEALS FLOTATION PLAN, EXPANSION

Article Abstract:

Jessops is planning a stock market flotation in valued at GB[pound] 100mn in October 2000 leading to the opening of over 250 additional photographic retail outlets to add to its 192 existing stores in the UK. Jessops aims over the coming seven years to have 450 outlets and its plan would create 1,500 new jobs. Jessops posted a GB[pound] 7.7mn profit on sales of GB[pound] 125mn for the 12 months to September 1999.

Sales, profits & dividends, Marketing procedures, Geographic, Brief Article, Jessups PLC

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UK: SUBSIDISED DRINKS BANNED BY UNIVERSITY

Article Abstract:

A spokesman at Warwick University has said that subsidised drinks have been banned in order to prevent a price war between the union bar and new campus supermarket, with drinks sales having risen sharply since it was opened. The university is worried that over-indulgence in alcohol could detract from the studies of its students and the high academic reputation the university enjoys.

Government expenditures

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