Stonegate Pub eyes IPO

Stonegate Pub, the UK’s fourth-largest managed pub company, is thought to be considering a £1 billion stock market float early next year. The Slug & Lettuce and Yates’s owner recently bought 53 pubs from Lone Star Funds for a rumoured £100 million, taking its estate to 665 pubs. (EP)

AFC makes grid delivery

Alkaline fuel cell specialist AFC Energy (AFC:AIM) has delivered its first power into the German power grid, as part of the planned trials of the power electronics connected to its first commercial scale KORE fuel cell system. The news confirms that AFC remains on target to deliver the world’s largest alkaline fuel cell system operating at an industrial facility later this year. (SFl)

Melrose unveils cash reward

Engineering conglomerate Melrose (MRS) - trading at 272p - demonstrated the efficacy of its ‘buy, improve, sell’ model by announcing plans (6 Oct) to return between £2 billion and £2.5 billion to investors after the proposed £3.3 billion sale of its Elster unit. The deal is due to complete in the first quarter of 2016. (TS)

Eyes on Renishaw

Metrology kit maker Renishaw (RSW) will soon update the market on trading (15 Oct), perhaps answering the question of whether it can maintain its recent purple patch. Upgrades have abounded in the last 12 months but at £20.35 the stock has fallen 22% since topping £26.00 levels in April on emerging market demand worries. (SFr)

Bioventix’s divi upgrade

Antibody developer Bioventix’s (BVXP:AIM) dividend forecast has been increased 12.4% to 32.6p a share for the year to 30 June 2016 by analysts at FinnCap, the equivalent of a 2.9% yield while trading at £11.17. The continued roll-out of vitamin D tests using its antibody underpins the improved payout. (MD)

Gibbons' stamp of disapproval

The market is unhappy with rare stamp dealer Stanley Gibbons (SGI:AIM) as it warns (6 Oct) full year numbers will fall short of expectations due to a weak first half. Down more than a quarter on the news at 105p the £50 million cap looks a victim of China’s slowdown as it blames weak Asian operations. (TS)

MySale M&A move

Online retailer MySale (MYSL:AIM) is gradually rebuilding confidence following December 2014’s severe profit warning. The £81.4 million cap flash sales operator, backed by retail heavy-hitters Philip Green and Mike Ashley, has returned to profit. Its potential customer base is boosted through buying (1 Oct) three Australian sites from Grays eCommerce for A$5.2 million. (JC)

Haydale in resins venture

Graphene pioneer Haydale Graphene Industries’ (HAYD:AIM) Composite Solutions business has entered into a non-binding joint development agreement with Scott Bader, a leading global supplier of liquid resins, gel coats and adhesives with the aim of developing the use of these resins in targeted composite applications. (SFl)

Ibex on the comeback

New broom Robert Dechant says he has plenty to work with at outsourcer Ibex (IBEX:AIM) after 120 days in charge. Pre-tax profit in the first half surged to $7.2 million (£4.7 million) but customer concentration - 80% of revenue is earned from only four customers - and $18.6 million debt mean there is risk too. (WC)