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Clyde mascot to be sold for Unicef

The Unicef Clyde was one of 25 mascots that made up the Clyde Trail during the Games

A statue of Glasgow’s 2014 Commonwealth Games mascot Clyde is to be sold to raise funds for the United Nations children’s charity, Unicef.

The statue, which carries the Unicef logo, was one of 25 designed by Glasgow schoolchildren that were displayed at sites across the city during the Games.

The fibreglass model is the only one being sold to help raise cash for Unicef’s Put Children First fund.

An appeal launched at the start of the Games raised £5m for the Unicef fund.

Glasgow City Council leader Gordon Matheson said: “Part of the lasting legacy of this partnership is the £5m raised during the 11-day sporting spectacular.

“On behalf of the city, I am delighted that Glasgow City Council is donating Unicef Clyde to Unicef so that he will be given a new home and that the funds raised for the Put Children First appeal will benefit children around the Commonwealth in a range of ways.”

Unicef’s Commonwealth Games project director, Tom Burstow, said the organisation was “immensely grateful” for the backing it had received.

“With this latest support from Glasgow City Council we will be able to save and transform even more children’s lives across the Commonwealth and in Scotland,” he said.

“The generosity of the people of Glasgow and beyond has helped us achieve something never done before. Together we have shown that we can, and will, always Put Children First.”

The 25 Clyde statues were located at various locations around Glasgow during the Games period to form Clyde’s Trail.

Glasgow City Council is looking at sites for the other 24 statues and has promised that they will remain on show to the public.

LSE rights issue to raise almost £1bn

Xavier Rolet, chief executive of the London Stock Exchange

The London Stock Exchange is raising £938m ($1.55bn) from shareholders in a rights issue to help fund a £1.6bn acquisition.

The LSE said in late June it was buying index compiler and asset manager Frank Russell Company, from Northwestern Mutual.

The fully underwritten rights issue will be priced at £12.95 a share.

That is a 30.1% discount to Thursday’s closing price of £20.05, which valued the LSE at £5.46bn.

News of the rights issue sent LSE shares down 1% to £19.86 in Friday morning trading.

The acquisition of Frank Russell – the largest in the LSE’s history – gives the exchange ownership of the Russell 2000 small-cap US stock index.

It will also make it the third-largest player in the growing market for exchange-traded funds (ETFs).

Xavier Rolet, chief executive of LSE, said the deal would help to expand its global footprint, particularly in the key US market.

This is a strong strategic acquisition for the group, which will accelerate development in one of our core strengths, intellectual property, and offers significant growth potential, he said

We have seen a resurgence in the IPO market

Shareholders must approve the deal at a general meeting on 10 September 10.

LSE also announced results for the three months to the end of June, which gave investors details of its latest financial performance in connection with the Frank Russell deal and rights issue.

Adjusted pre tax profit rose 26% to £129.8m, with revenue up 20% to £299.9m.

Mr Rolet said: We have seen a resurgence in the IPO market with an increase in both the number of companies joining our markets and the amount of money raised. While the summer period is seasonally slower, our diversified business is very well positioned for further growth

Revenues from capital markets was up 16% as the number of new issues in primary markets more than doubled, while secondary markets benefitted from improvements in fixed income trading and Italian cash equity volumes