Alternative route to the roadshow
When Agnico-Eagle Mines plans a roadshow, it picks out specific institutions it would like to introduce to management. The company’s target list, however, doesn’t always match up with what sell-side firms have to offer.
‘Bank-brokered roadshows don’t always meet our objectives,’ says Dmitry Kushnir, IR manager at the Toronto-based gold miner. ‘In some cases, the clients just don’t have the relationships with the brokers. In other cases, the clients may be too small for the brokers.'
This situation led Agnico-Eagle Mines to consider other options as part of its overall targeting strategy. During this process, the company discovered another avenue to connect with the investors it would like to meet. That avenue is Meet the Street, an electronic corporate access service owned by Instinet that allows companies to take control of their roadshow itinerary...