Article: Intertrust Cayman receives administrative penalty

Article - Media, Publications

Intertrust Cayman receives administrative penalty

Intertrust Group, 14 May 2021

PRESS RELEASE: Amsterdam – 14 May 2021. Intertrust N.V. (“Intertrust”) [Euronext: INTER], a global leader in providing tech-enabled corporate and fund solutions to clients operating and investing in international business, announces that on 13 May 2021, the Cayman Islands Monetary Authority (CIMA) issued to Intertrust Corporate Services (Cayman) Limited, a subsidiary of Intertrust N.V., formal notice of an administrative fine in the amount of CI $4,232,607.50 arising from breaches of specific statutory obligations under the Cayman Islands Anti-Money Laundering (AML) Regulations identified during an onsite inspection conducted in February 2020. The breaches alleged are administrative in nature and there is no suggestion that Intertrust has engaged in or facilitated its clients engaging in money laundering activities. Continue reading “Article: Intertrust Cayman receives administrative penalty”

Article: Deliveroo Debut Declared “Worst IPO In London’s History”, Sign Of Amsterdam’s Growing Dominance

Article - Media, Publications

Deliveroo Debut Declared “Worst IPO In London’s History”, Sign Of Amsterdam’s Growing Dominance

TYLER DURDEN, 02 April 2021

It’s official: the Financial Times (citing an informal polling of anonymous bankers) has declared Deliveroo’s botched London offering the “worst IPO in London’s history.”

As we reported yesterday, shares of the food-delivery competitor, which is struggling to grow market share at all costs in a battle for survival with Uber Eats and “Just Eat Takeaway”, tanked in their public-markets debut, sliding 31% after pricing at the bottom of their range. Bankers immediately started complaining to reporters about being misled by Deliveroo’s bankers, who had initially bragged that the company would price at the high end of the range. The debut, marketed as a major coup for the LSE and London markets, which are struggling for European supremacy with Euronext Amsterdam, more generally, has turned into a major embarrassment for the industry. Continue reading “Article: Deliveroo Debut Declared “Worst IPO In London’s History”, Sign Of Amsterdam’s Growing Dominance”