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What is the true cost of the UK state pension?

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BUZZ-IPOs: Recovery in equities tailwind for new issuance

Reuters - UK Focus

(Fixes story link)

** Equity snapback invigorates new issuance, 17 deals priced, double last week's total, and more than a dozen companies are on the road marketing IPOs over next two weeks.

** Record (LSE: REC.L - news) -setting Shell Midstream Partners IPO was week's most impressive debut. Shares (Berlin: DI6.BE - news) of Royal Dutch Shell (Xetra: R6C1.DE - news) affiliate popped 46 pct above their offer price, traded to indicative 2% yield, roughly half the industry average.

** Healthcare issuance remains prominent, six deals raised nearly $600 mln, led by $200 mln Synergy Pharmaceuticals (NasdaqGS: SGYP - news) convertible senior note offering and $75 mln Sientra, Inc. IPO.

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** Investors view next week's broad mix of real estate, healthcare, bank, energy, consumer and technology companies looking to go public a healthy sign.

** Portfolio managers focused on companies featuring growth, earnings quality and sustainability, and are highly price sensitive going into year end.

** Capital (Other OTC: CGHC - news) markets sources saying they expect continued opportunistic follow-on financings from REITs and MLPs over next few weeks.