Quote:
Originally Posted by pamon
Interesting article on xbiz talking about the AFF/Penthouse IPO. Russian bank is now backing the IPO. The russian bank is underwriting the IPO.
Per xbiz: Renaissance Capital is based in Moscow but has satellite offices across Eastern Europe, the U.K., in Nigeria and in New York.
A questionable company with questionable practices now getting the backing of an eastern european bank and nigeria. I smell dirty laundered money. Just my thoughts. Don't ban me for that opinion, but going to a Russian bank for underwriting an IPO for $500MM with $48mm in revenue is iffy..
Ouch |
yes the choice of Renaissance Capital is a very interesting option. But that in itself is nothing weird. As Ren Cap is a large global investment bank
Take a look at their history in equity markets
http://www.rencap.com/eng/project/project.asp
They could have picked any # of US underwriters you've never heard of, now that would have been seen as a joke.
another interesting bit, Renaissance Capital is #1 in google under IPO. guess they're doing something right.