• Artemis hits target: cheap funding with no dilution

    Artemis, the Pinault family holding company that owns €17bn of shares in Kering, the French luxury goods group, raised €383m on Tuesday with an innovative equity-neutral exchangeable bond, in which Crédit Agricole acts as an extra counterparty to investors.

    • 22 Sep 2017
  • Central Asia Metals raises £113m to buy new mine in Macedonia

    Central Asia Metals, the Aim-listed owner of a copper mine in Kazakhstan, priced a £137.4m ($153.5m) capital increase and secondary share sale on Friday, to partly finance its acquisition of Lynx Resources for $402.5m.

    • 22 Sep 2017
  • Belgian warehouse Reit Montea bags €68m for growth

    Montea, the Belgian real estate investment trust focused on logistics warehouses, has raised €68m, after its one for six rights issue was 91% subscribed, and a rump sale disposed of the rest this morning.

    • 22 Sep 2017
  • HK puts stop to heavily discounted equity raises

    The Hong Kong Stock Exchange (HKEX) plans to bar issuers from carrying out heavily dilutive equity raisings, as it seeks feedback on a raft of proposals aimed at tightening governance for listed companies.

    • 22 Sep 2017
  • Cromwell Reit pulls €739m Singapore IPO

    Cromwell European Real Estate Investment Trust has cancelled its potential €738.8m listing on the Singapore Exchange due to market conditions, after first trying to get past the finish line with a smaller offering.

    • 22 Sep 2017
  • Thailand’s TOA Paint eyes $369m from IPO

    Thai paint producer TOA Paint is looking to raise up to Bt12.2bn ($368.5m) from its IPO, set for the last week of September.

    • 22 Sep 2017
  • ZhongAn rides high on demand for $1.5bn HK listing

    ZhongAn Online P&C Insurance Co has raised HK$11.9bn ($1.5bn) after pricing its hugely popular Hong Kong IPO at the top of guidance, according to a banker on the deal.

    • 22 Sep 2017
  • Secoo woos IPO investors with juicy discount

    Chinese online retailer of luxury goods Secoo Holding priced its $110.5m listing of American Depository Shares on Thursday, finding favour among investors thanks to an attractive discount.

    • 22 Sep 2017
  • Regulators warn firms to show effort for MiFID mercy

    The MiFID II deadline stands. Firms who don't prepare to meet it won’t receive any grace or favour, the FCA has said. But the tough deadline of January 3, and continued lack of regulatory clarity, means firms that show they've done all they can should escape the worst effects.

    • 21 Sep 2017
  • Agarwal doubles down on costly bid for Anglo influence

    Anil Agarwal, founder of mining group Vedanta Resources, has managed to surprise the stockmarket with the same trick twice. But as Jon Hay and Aidan Gregory write, his intentions in buying another £1.5bn of shares in Anglo American are anything but clear, and he is paying a high price for influence.

    • 21 Sep 2017
  • Telenor’s final sale of Veon stock clears at a slim 0.7% discount

    The strength of the demand for equity block trades in Europe was highlighted once again on Wednesday evening by Telenor when it covered an effective cleanup trade in Veon, the New York-listed Russian telecoms company formerly known as VimpleCom, in half an hour.

    • 21 Sep 2017
  • CapitaLand preps S$1.8bn fundraise for acquisition

    CapitaLand Commercial Trust Management is looking to raise S$1.82bn for its acquisition of Asia Square Tower 2 through a combination of debt and equity.

    • 21 Sep 2017
  • SFC admits defeat in push for input on IPO approvals

    There was relief all round this week after Hong Kong's financial regulator backed down from a contentious plan to increase its involvement in listing approvals, and also gave the market some much-needed clarity on its role in IPOs, writes Jonathan Breen.

    • 21 Sep 2017
  • Credit Suisse bets on Europe as it refreshes EMEA leadership team

    Credit Suisse has refreshed its management team in EMEA and is ramping up in the region again. This time it’s different, writes David Rothnie.

    • 21 Sep 2017
  • Sebi approves bonds sales for Reits, InvITs

    India’s real estate and infrastructure investment trusts have been approved to issue bonds, in the latest move to ease the funding crunch for issuers.

    • 21 Sep 2017
  • Insurance IPOs take centre stage in India’s equity market

    ICICI Lombard General Insurance Co has priced its Rp57bn ($884m) IPO at the top of the range, after strong institutional investor support made books nearly three times subscribed.

    • 21 Sep 2017
  • CIMB and Minsheng blocks entice investors

    Bank of Tokyo-Mitsubishi UFJ cleaned up its position in CIMB Group this week, offloading more than 400m shares in an accelerated bookbuild to raise MR2.55bn ($607m).

    • 21 Sep 2017
  • Best bags $450m after slashing IPO as Zai Lab goes big

    Chinese logistics firm Best, which counts Alibaba Group Holdings among its shareholders, raised $450m from its US IPO this week, chopping the deal by half to get it over the finish line.

    • 21 Sep 2017
  • Steinhoff Africa Retail IPO a success, up 5% on day one

    Shares in Steinhoff Africa Retail, the African retail assets of Steinhoff International, rose 5% above their IPO price on Wednesday after the company made its debut on the Johannesburg Stock Exchange.

    • 20 Sep 2017
  • Aeroflot taps pent up investor demand with Rb9.8bn sale of treasury shares

    Another elusive name was traded in the equity blocks market on Tuesday night, when Aeroflot Russian Airlines, Russia’s national carrier, came to market to sell 53.7m treasury shares worth Rb9.8bn ($169m).

    • 20 Sep 2017
  • Equity block market bubbles, with Heineken, Aeroflot, Turkcell

    EMEA's equity block trades market is keeping up its fierce pace this week, after last week notched up the highest tally of sales this year, at €5.5bn.

    • 20 Sep 2017
  • Best bags smaller $450m after slashing US IPO

    Chinese logistics firm Best raised $450m from its US IPO this week, slicing the deal size by as much as half.

    • 20 Sep 2017
  • Jefferies results: gloomy for trading but a party for primary

    Jefferies' dreary third quarter trading results were buoyed by a record performance in its capital markets division.

    • 19 Sep 2017
  • Sibanye Gold finishes Stillwater refinancing

    Sibanye Gold, the South African gold miner, took the final step towards refinancing its acquisition of US platinum miner Stillwater on Tuesday, when it issued a $450m convertible bond.

    • 19 Sep 2017
  • ICICI Lombard wraps up $886m IPO oversubscribed

    ICICI Lombard General Insurance Co closed books for its IPO on Tuesday, with the Rp57bn ($886.4m) trade more than 250% subscribed.

    • 19 Sep 2017
  • Zai Lab to price $106m US listing high

    Zai Lab, a Chinese biotechnology company, was set to price its IPO of American Depository Shares on Tuesday, expected to raise at least $105.9m.

    • 19 Sep 2017
  • IMA’s GIMA TT covers its €350m Milan flotation after one day of bookbuilding

    The €350m IPO of Gima TT, the tobacco packaging machinery division of IMA, was covered at the full deal size including the greenshoe, less than two working days into the bookbuild.

    • 19 Sep 2017
  • S-Reits, trusts to keep issuance spree on a high

    Singapore real estate and business trusts have raised a healthy $2.9bn in equity this year, with market participants seeing no let-up in volumes as investors continue to chase for yield.

    • 19 Sep 2017
  • The Buy Side: Sweden’s Andra still bullish on A-shares

    In this new column, GlobalRMB will be speaking to investors from around the world about their views on RMB assets. In the first instalment, Swedish pension fund Andra speaks about its long-standing commitment to China’s equity market.

    • 19 Sep 2017
  • InterGlobe nets Rp38bn from popular share sale

    InterGlobe Aviation has raised Rp37.96bn ($591.5m) from a one-day placement, drawing in a troop of international and domestic hedge funds, as well as long-only investors.

    • 19 Sep 2017
  • Echlin and Drew move on as Credit Suisse rolls out senior revamp

    Credit Suisse has replaced Marisa Drew and Mark Echlin as co-heads of EMEA investment banking and capital markets with Mathew Cestar and Jens Welter. The bank also announced a senior hire in leveraged finance.

    • 18 Sep 2017
  • Femsa serves up rare Heineken liquidity with €2.5bn block

    Femsa, the Mexican soft drinks and retail company, surprised some in the equity capital markets on Monday night when it sold €2.5bn of the stake in Heineken that it acquired when the Dutch brewer bough its brewery division in 2010.

    • 18 Sep 2017
  • Telia’s second $500m sale of Turkcell shares covered inside half an hour

    On Monday evening, Telia, the Nordic telecoms group, launched another large block trade of shares in Turkcell, the leading mobile phone operator in Turkey.

    • 18 Sep 2017
  • French fashion house SMCP tries to IPO again

    SMCP, the French fashion group, has filed a document de base with AMF, the French market regulator, paving the way for its flotation on Euronext Paris.

    • 18 Sep 2017
  • DC Holdings seals 1,600% subscribed rights issue

    Digital China Holdings has bagged HK$1.45bn ($185.5m) from a rights issue that was hugely popular, with books more than 1,600% subscribed.

    • 18 Sep 2017
  • Goldman appoints duo to helm southeast Asia IB

    Goldman Sachs has named Udhay Furtado and Harry Naysmith as co-heads of investment banking for southeast Asia, according to a memo seen by GlobalCapital Asia.

    • 18 Sep 2017
  • SFC drops listing committee proposal after resistance

    Hong Kong’s Securities and Futures Commission (SFC) has backed down from the idea of boosting its involvement in listing approval decisions following a wave of opposition, but will maintain its new role of intervening in serious listing matters.

    • 18 Sep 2017
  • Gansu bank, A-Living seek Hong Kong listings

    Bank of Gansu Co and A-Living Services Co are looking to float on the Hong Kong Stock Exchange, having filed draft listing documents with the bourse.

    • 18 Sep 2017
  • Online insurer ZhongAn launches HK$12bn IPO

    ZhongAn Online P&C Insurance Co has opened books for its much-anticipated Hong Kong IPO, which could raise up to HK$11.9bn ($1.5bn).

    • 18 Sep 2017
  • Pirelli’s IPO could be the largest in EMEA this year

    Pirelli, the Italian tyre maker, has revealed the price range for its IPO in Milan, which could surpass the €3bn flotation of Allied Irish Banks in June as the biggest IPO in Europe this year - if the deal is priced near the top of the range and the greenshoe is exercised.

    • 15 Sep 2017
  • Boston Common-ShareAction letter to bank CEOs

    Here is the full text of the letter sent by 100 investors to 62 bank CEOs in September 2017, calling on them to manage and disclose climate risk.

    • 15 Sep 2017
  • Cazenave steps up at AMF, Eliet goes to Euroclear

    French market regulator Autorité des Marchés Financiers (AMF) has promoted Natasha Cazenave to head of public policy and international affairs, and replaced Guillaume Eliet, who has left to work for Euroclear.

    • 15 Sep 2017
  • Goldman units bag $109m from Max Financial clean-up

    A pair of Goldman Sachs-owned funds bagged Rp7bn ($109m) after selling the last of their shares in India’s Max Financial Services through an overnight block trade on Thursday.

    • 15 Sep 2017
  • Tsit Wing, Agile unit close in on HK IPOs

    Tsit Wing International, a coffee and black tea supplier, is vying for approval to list in Hong Kong, having filed a draft prospectus with the city’s stock exchange this week.

    • 15 Sep 2017
  • Keppel-KBS gear up for Singapore Reit IPO

    Singapore’s Keppel Corp, together with US-based KBS Realty Advisors, is preparing to list a real estate investment trust in the southeast Asian country, backed by commercial properties in the US.

    • 15 Sep 2017
  • ICICI Lombard launches India’s first non-life insurer IPO

    ICICI Lombard General Insurance Co kicked off a three day bookbuild for its potential Rp57bn ($888.8m) listing on Friday after placing Rp16.2bn of stock with a hefty group of anchor investors.

    • 15 Sep 2017
  • IndiGo parent seeks $616m from one-day bookbuild

    InterGlobe Aviation plans to raise Rp39.5bn ($616m) from a one-day bookbuild on Friday with institutional investors to help it meet India’s free float requirements.

    • 15 Sep 2017
  • Get real on climate risk, investors tell banks

    A hundred investors managing $1.8tr of assets have signed a letter calling on banks to say more about how they are managing the risk of climate change, and to publish a strategy saying how they support the goals of the Paris Agreement.

    • 14 Sep 2017
  • Goldman's masterplan is to make lots of money

    Goldman Sachs laid out plans to turn around its FICC division, following two quarters in which the business underperformed its peers. The bank also laid out its plans to boost revenues across the bank in unprecedented detail, explaining to the market how it would add $5bn to revenues in three years.

    • 14 Sep 2017
  • No end in sight as equity blocks have biggest week of 2017

    The equity block trades market in EMEA finished another strong week for issuance on Thursday, which included three jumbo trades bigger than €1bn, making it the biggest week for block trades in the region this year.

    • 14 Sep 2017
  • NLFI sells another €1.5bn of ABN Amro

    Another stellar week for equity block trades in EMEA finished on Thursday night with the launch of a €1.5bn sale of shares in ABN Amro by the Dutch government, making this the biggest week of the year for blocks in EMEA.

    • 14 Sep 2017
  • Jefferies takes Benelux M&A team from Deutsche

    Jefferies has opened an investment banking office in Amsterdam and has poached a team of bankers from Deutsche Bank to run it.

    • 14 Sep 2017
  • Steinhoff Africa Retail finishes biggest ever South African IPO

    The IPO of Steinhoff Africa Retail, known as Star, the African discount store assets of Steinhoff International, has been priced at R20.50 a share, the midpoint of the initial R18 to R23 range.

    • 14 Sep 2017
  • Tobacco packager GIMA TT sets price range for €350m Milan float

    GIMA TT, the tobacco packaging machinery division of IMA, has set the terms for its IPO on Borsa Italiana, which could value it at up to €1.1bn.

    • 14 Sep 2017
  • MUFG picks Amsterdam for post-Brexit securities business

    Mitsubishi UFJ Financial Group (MUFG) has set up a subsidiary in Amsterdam, giving it an option for its securities business once the UK leaves the EU.

    • 14 Sep 2017
  • ZhongAn sets high bar for first HK insurtech IPO

    The $1.5bn Hong Kong IPO of Chinese insurtech firm ZhongAn Online Property and Casualty Insurance Co is set to be a splashy affair, with the punchy valuations on offer stirring debate among ECM bankers. But the leads are already predicting a successful outcome. John Loh and Jonathan Breen report.

    • 14 Sep 2017
  • Mapletree Logistics prices block high to net S$354m

    Mapletree Logistics Trust sealed an accelerated bookbuild at the top of guidance on Wednesday, raising S$353.5m ($261.8m) from the first step of a two-pronged equity raise to fund the acquisition of a Hong Kong warehouse.

    • 14 Sep 2017
  • China’s RYB Education, Secoo kick off US listings

    RYB Education’s IPO on the New York Stock Exchange is off to a strong start, with the $140m deal covered on the first day of bookbuilding.

    • 14 Sep 2017
  • Asset manager hires head of trading for ‘passive investment’

    Tobam has hired Frédéric Jamet as head of trading and co-head of research. Mr Jamet will oversee equities, fixed income, forex and assets. He will be based in Paris but will manage teams on the continent and in Dublin.

    • 14 Sep 2017
  • JKL pockets $150m from Pan Ocean block

    South Korean private equity firm JKL Partners has raised W170.3bn ($150.3m) after offloading a chunk of shares in Pan Ocean Co, with an early non-deal roadshow putting the deal on a solid footing.

    • 14 Sep 2017
  • EU nears approval of 'Juncker plan' extension

    A representative of European Member States and the European Parliament agreed on Wednesday to increase the lifetime of the European Investment Bank's European Fund for Strategic Investments (EFSI) until 2020, with the aim to triggering a total of €500bn in investments in the EU economy.

    • 13 Sep 2017
  • Lone Star sells huge chunk of Neinor tightly

    Lone Star Funds, the US private equity group, has completed the first selldown of shares in Neinor Homes, the Spanish property developer, since its €775m IPO in March, and managed to sell a whopping 27% stake.

    • 13 Sep 2017
  • NLFI’s last €1bn ASR block a blowout that could almost have been priced flat

    ASR Nederland, the Dutch insurer, has returned to full private ownership after NLFI, the organisation that manages the investments of the Kingdom of the Netherlands, sold its final 20.5% stake via an accelerated bookbuild on Wednesday evening that attracted over 150 investors.

    • 13 Sep 2017
  • Tobam hires ex-State Street adviser as head of trading

    Tobam, the Paris-based asset manager, has appointed Frédéric Jamet as head of trading and co-head of research. He had been an investment adviser at State Street for 11 years.

    • 13 Sep 2017
  • Vendor eyes $154m from Pan Ocean block

    South Korean asset manager Poseidon 2014 has launched an up to W174.1bn ($154.3m) block sale of shares in shipping services provider Pan Ocean Co.

    • 13 Sep 2017
  • Covestro, Eramet building blocks in booming market

    The equity blocks market extended a busy run this week, with a Bayer trade in Covestro on Tuesday night, and the second sell-down of shares in Ahlsell by CVC since its IPO in October last year.

    • 13 Sep 2017
  • Haitong UniTrust plans September IPO launch

    Haitong UniTrust, the leasing arm of Haitong Securities, is eyeing an end-September window to launch its $500m IPO in Hong Kong.

    • 13 Sep 2017
  • ZhongAn pitches brazen valuations on $1.5bn IPO

    Investors have been receptive to ZhongAn Online Property and Casualty Insurance Co’s $1.5bn IPO in Hong Kong despite the punchy valuations on tow, said bankers.

    • 13 Sep 2017
  • SBI Life sets the stage for India’s largest IPO in seven years

    SBI Life Insurance Co is preparing to treat India to the first billion-dollar IPO in seven years as it readies an eagerly awaited Rp84bn ($1.3bn) listing.

    • 13 Sep 2017
  • L&T to pave way for new InvIT IPO bookbuild style

    India’s Larsen & Toubro is set to trial a new bookbuilding format for its planned infrastructure investment trust (InvIT), a move designed for success as the asset class struggles to gain traction.

    • 13 Sep 2017
  • PFM to be popular with foreign asset managers, says CLSA

    Foreign asset managers will increasingly use RMB raised in China to invest overseas, as the private fund management (PFM) programme takes off, said Alexious Lee, head of capital access, China, at CLSA.

    • 13 Sep 2017
  • Bayer’s third selldown of shares in former unit Covestro raises €1.2bn

    Bayer, the German life sciences company, took one more step towards full separation from Covestro, the plastics company it span off in 2015, when it launched another block trade on Tuesday night for around €1.2bn of the company.

    • 12 Sep 2017
  • UniCredit, Intesa offload their legacy stakes in France’s Eramet for €169m

    Intesa Sanpaolo and UniCredit have sold their stakes in Eramet, the French mining and metallurgy company, which they had acquired as a result of the debt restructuring of the Carlo Tassara vehicle in 2016.

    • 12 Sep 2017
  • Good early reception for Equiniti rights issue

    Equiniti, the UK provider of payment and administration services, has unveiled the terms for its £122m rights issue, which is intended to partly finance its entry into the US market.

    • 12 Sep 2017
  • STJ Advisors hires ex-JP Morgan research head

    STJ Advisors, the London-based corporate finance boutique, has hired JP Morgan’s former head of European equity research, according to a senior source at the company.

    • 12 Sep 2017
  • Bandhan Bank hires for $1bn IPO, Reliance Nippon pre-markets

    Indian non-banking financial company (NBFC) Bandhan Bank has lined up five bookrunners for its IPO, expected to raise at least $1bn, according to a banker on the transaction.

    • 12 Sep 2017
  • Garuda arm’s $246m dual-track IPO takes off

    Garuda Maintenance Facility AeroAsia has opened books on a two-pronged Rph3.2tr ($245.5m) IPO which will also see it court strategic investors.

    • 12 Sep 2017
  • Secoo kicks off bookbuilding for $115m US IPO

    Chinese online luxury product retailer Secoo Holding has launched an IPO of American Depository Shares that could raise up to $114.8m.

    • 12 Sep 2017
  • Sisram Medical prices $125m IPO low

    Sisram Medical, a subsidiary of Chinese conglomerate Fosun International, has raised HK$978.6m ($125m) from its spin off in Hong Kong, pricing the IPO at the bottom of guidance.

    • 12 Sep 2017
  • IndiGo, Nazara set sights on equity fundraises

    InterGlobe Aviation, the owner of Indian budget carrier IndiGo, is getting ready to tap institutional investors for a capital raise of around Rp40.7bn ($636.5m).

    • 12 Sep 2017
  • TissueGene aims for $179m in Kosdaq float

    US-based TissueGene has announced an indicative range for its Kosdaq listing of W202.5bn ($179.1m), with bookbuilding expected to start next month.

    • 12 Sep 2017
  • US insurers, cities well placed to cope with Irma and Harvey — moms and pops less so

    Financial markets in the US reacted with relief today, as the devastation wrought in Florida by Hurricane Irma may be less bad than feared a few days ago. Most large US institutions affected ought to be financially strong enough to withstand the losses — but there could be heavy economic damage for people and businesses not covered by insurance.

    • 11 Sep 2017
  • Lithium ion battery maker Voltabox seeks Frankfurt IPO

    Paragon, the German car parts company, is preparing to float Voltabox, its subsidiary that produces lithium ion batteries, through an IPO on the Frankfurt Stock Exchange.

    • 11 Sep 2017
  • EMEA block trading rumbles on with Ahlsell, TAV sales

    An exceptionally busy week in the European equity block trades market began with a bang on Monday night, with four large trades, from Sweden, Turkey, the UK and the Netherlands.

    • 11 Sep 2017
  • Jefferies hires for broking push

    Jefferies has hired Christopher Dickinson from JP Morgan as a managing director in its UK corporate broking team as the US bank continues to expand its offering.

    • 11 Sep 2017
  • Liquidity hires two ex-BNPP HY pros to set up new business

    Boutique trading firm Liquidity Finance has hired Michael Wheeler and Matthew Robbins, both formerly of BNP Paribas, to start a high yield bond trading operation in London.

    • 11 Sep 2017
  • Shorting Australia and securitization for MDBs: ideas from Sustainable Capital Markets Forum

    Two hundred delegates gathered in Amsterdam on Tuesday September 5 for Euromoney Conferences’ fifth Sustainable and Responsible Capital Markets Forum. For the second time, it was organised jointly with GlobalCapital.

    • 11 Sep 2017
  • Thai firm Prima Marine nets $157m with IPO

    Thailand's Prima Marine has secured Bt5.2bn ($156.9m) from its IPO of 650m shares, according to a company announcement on Monday.

    • 11 Sep 2017
  • Bajaj Finance seals $705m return to equity market

    India’s Bajaj Finance capped its fourth and largest equity raise to huge success last week, netting Rp45bn ($705m) from a qualified institutional placement.

    • 11 Sep 2017
  • Cromwell Reit opens books for €903m Singapore IPO

    Cromwell European Real Estate Investment Trust launched bookbuilding on Monday for a €902.9m ($1.08bn) listing on the Singapore Exchange, a move in line with the parent’s diversification strategy.

    • 11 Sep 2017
  • UK MPs question the FCA over softer rules for Aramco

    MPs are preparing to scrutinise the Financial Conduct Authority’s proposal to create a new premium listing category for sovereign-controlled companies, due to fears that it could weaken corporate governance standards of UK-listed companies.

    • 08 Sep 2017
  • Bank of Ireland hires for levfin syndicate from SocGen

    Etienne Lacault has joined Bank of Ireland’s leveraged syndicated finance team, the bank said in a notice on Friday. He last worked at Société Générale.

    • 08 Sep 2017
  • TCNS Clothing hires banks for India flotation

    India’s TCNS Clothing Co has mandated Citi and Kotak Mahindra Capital for an IPO slated for next year, according to bankers close to the matter.

    • 08 Sep 2017
  • RYB Education to launch $100m IPO Thursday

    China’s RYB Education is slated to open books on Thursday for its $100m IPO on the New York Stock Exchange, said bankers leading the trade.

    • 08 Sep 2017
  • ICICI Lombard, SBI Life ready insurance IPOs

    ICICI Lombard General Insurance, India’s largest private sector non-life insurer, is set to launch its IPO on September 15, and is eyeing up to Rp57bn ($892.8m).

    • 08 Sep 2017
  • Macquarie’s Korea fund plans W150bn follow-on

    Macquarie Korea Infrastructure Fund is looking to raise W150bn ($132.9m) through a follow-on offering, publishing a draft prospectus for the deal.

    • 08 Sep 2017
  • Thailand’s Prima Marine docks for $157m IPO

    Thai firm Prima Marine was set to wrap up bookbuilding for its Bt5.2bn ($156.9m) IPO on Friday.

    • 08 Sep 2017
  • HBL settles with US for smaller $225m fine

    Habib Bank (HBL) has reached a settlement with US regulators for a much lower fine of $225m, after accusations it had breached anti-money laundering rules wiped 30% off its market value.

    • 08 Sep 2017
  • CMS execs bag $156m from accelerated sell down

    Two top executives of China Medical System Holdings raised HK$1.2bn ($156.4m) from an overnight bookbuild on Thursday, opting for size over price.

    • 08 Sep 2017
  • Capital Stage gets cheap equity with first CB

    Capital Stage, the German renewable energy company, launched its first convertible bond on Wednesday, raising €97.3m. The deal came from a different corner of the CB world from the Qiagen transaction on the same day: it was a hybrid deal, structured to receive equity credit under IFRS.

    • 07 Sep 2017
  • Nationwide shows relevance of mutual-friendly CCDS

    Nationwide Building Society came out of nowhere to tap its rare and very popular issue of core capital deferred shares (CCDS) this week, piquing the interest of a good many bank credit investors. Nearly every building society can get along nicely without this innovative substitute for equity, but Nationwide’s efforts to keep the product relevant could well make it a viable option for the rest of the mutual sector, writes Tyler Davies.

    • 07 Sep 2017
  • First Takeaway.com block shrinks, prices 7% down

    On Thursday night, Prime Ventures, the UK venture capital firm, launched the first block trade in Takeaway.com shares since the Dutch takeaway delivery company's IPO in September 2016.

    • 07 Sep 2017
  • Qiagen accelerates to bring rare call spread CB before deal rush

    September’s expected busy calendar of equity-linked issues in Europe made further progress this week, when Qiagen and Capital Stage sold unusually structured bonds, both of which achieved strong books and priced within their ranges — with no sign of market congestion yet.

    • 07 Sep 2017
  • Citi hires UBS's Weissenberger to head EMEA chemicals

    Sean Weissenberger has moved to Citi to run EMEA chemicals investment banking.

    • 07 Sep 2017
  • Capital markets revenues surge as trading businesses languish

    Capital markets divisions had the best revenue performance across investment banks in the first half of the year, according to analyst firm Coalition.

    • 07 Sep 2017
  • Imperial’s Logista block clears at 5.2% discount

    Imperial Brands, the UK tobacco company, sold a 10% stake in Logista, the Spanish wholesale deliveries company, on Wednesday evening through an accelerated bookbuild led by Credit Suisse and Goldman Sachs.

    • 07 Sep 2017
  • Liberbank shares drop 18% as it unveils €500m recap

    Liberbank, the Spanish retail banking group, has announced a €500m rights issue to improve its coverage of nonperforming assets (NPA) and to boost its capital ratio.

    • 07 Sep 2017
  • What Nordea's move is not

    Nordea announced on Wednesday that it was moving its headquarters from Sweden, where it has been since it was formed through a series of mergers in 2000, to Finland, where it will be supervised by the European Central Bank, as part of the ‘Banking Union’ arrangements.

    • 07 Sep 2017
  • Corporate broking under pressure as banks fight for mid-market

    A mid-market shake-out is under way in UK corporate broking as global banks and smaller rivals jostle for supremacy, writes David Rothnie.

    • 07 Sep 2017
  • North Korean turbulence has no hold on Asian ECM

    Asian equity capital markets jolted back into life this week, with a handful of overnight blocks signalling the end of the summer lull during the constant furore on the Korean peninsula. Despite the uncertainty, bankers predict equity markets will absorb the noise and battle through. Jonathan Breen reports.

    • 07 Sep 2017
  • Alibaba-backed Best launches books for $932m US IPO

    Chinese logistics firm Best hit the road on Thursday to start drumming up demand for its $931.5m IPO of American depositary shares (ADS).

    • 07 Sep 2017
  • Qiagen and Capital Stage sell unusual CBs

    The pattern of equity-linked issues coming in pairs continued on Wednesday, when Qiagen and Capital Stage successfully sold bonds. Both transactions were unusual, though in contrasting ways.

    • 06 Sep 2017
  • Levfin strategist Melentyev leaves Deutsche for BAML

    Oleg Melentyev has joined Bank of America Merrill Lynch as head of leveraged finance strategy in New York, after four years in the same position at Deutsche Bank.

    • 06 Sep 2017
  • France sells €1.5bn of Engie to finance innovation fund

    The French government came back to the equity block trade market on Tuesday night to sell another 4.5% chunk of its stake in Engie, the power and gas company, for €1.53bn, as part of a new €10bn asset sale programme announced in July.

    • 06 Sep 2017
  • ECM booms with a swathe of blocks, IPOs, CBs

    Predictions of a very busy September by bankers during the summer have so far proved accurate. This week, after the US public holiday on Monday, there have been a rush of block trades and three more IPOs launched.

    • 06 Sep 2017
  • Indonesian duo Siloam, MMP prep rights issues

    Siloam International Hospitals is teeing up a rights issue that could raise as much as Rph3.1tr ($231.6m), according to a deal prospectus.

    • 06 Sep 2017
  • Specialists boost research ahead of MiFID II

    Niche players see MiFID II's research rules as an opportunity to win market share.

    • 06 Sep 2017
  • Touch panel supplier TPK bags $236m from GDR sale

    Taiwan’s TPK Holding raised $236.3m on Tuesday evening from a placement of Global Depository Receipts, pricing the deal near the bottom of guidance.

    • 06 Sep 2017
  • UBS raids rivals in Japan for senior hires

    UBS has hired a handful of senior bankers for its Japanese equity and fixed income units from Mizuho and other rivals, boosting its bench strength amid growth in client activity and deal flow.

    • 06 Sep 2017
  • Game on: Pearl Abyss prices $163m IPO

    South Korea’s Pearl Abyss has raised the full W185.4bn ($163.3m) it was targeting in its IPO, as the recent military tensions with its northern neighbour proved to be no hurdle.

    • 06 Sep 2017
  • Rush of blocks greets funds after Labor Day

    After the US public holiday on Monday restricted trading, the equity block trades market in EMEA reopened spectacularly this week, with a rush of large deals from across the region.

    • 05 Sep 2017
  • Angry Birds and UK buy-to-let: juicy IPO stories for autumn

    Europe’s IPO market gained two more deals of very different flavours on Tuesday when Rovio, the Finnish developer of the Angry Birds mobile phone game, and Charter Court Financial Services, the UK specialist mortgage lender, both filed intention to float documents.

    • 05 Sep 2017
  • Hong Kong needs to get IPO Connect right

    China’s A-share market has one of the largest pools of domestic investors in the world. So it’s no surprise Hong Kong’s exchange is desperate to link its primary IPO market with the mainland. While there could be plenty of benefits, the city’s regulator should think long and hard before opening itself up to a potentially uncontrollable flood of money.

    • 05 Sep 2017
  • TPK Holding launches $242m GDR offer

    Taiwan’s TPK Holding Co has opened books for a placement of Global Depository Shares with a view to raise around NT$7.27bn ($242.01m).

    • 05 Sep 2017
  • Ruifeng Power revs up Hong Kong listing plans

    Chinese automobile parts manufacturer Ruifeng Power Group Co filed an IPO application with the Hong Kong Stock Exchange on Monday.

    • 05 Sep 2017
  • Citi hires Apac prime finance head from BNP

    Citi has named Sebastien Mailleux as head of prime finance for Asia Pacific, replacing Angus Yang, who has left the firm.

    • 05 Sep 2017
  • Mapletree Logistics eyes $472m from block, rights

    Mapletree Logistics Trust will fund its acquisition of a Hong Kong warehouse with a S$640m ($471.5m) dual tranche equity raise, following in the footsteps of its sister unit last year, as well as with debt.

    • 05 Sep 2017
  • Steinhoff Africa Retail may be worth $6.1bn

    Steinhoff International, the South African conglomerate, has opened the books on the IPO of Steinhoff Africa Retail (Star), a company formed from its African retail assets, which could value the business at up to R79.3bn ($6.1bn) if it is priced at the top of its range.

    • 04 Sep 2017
  • Pirelli IPO offers focus on premium car tyres

    After months of preparation, one of this year's most highly anticipated European IPOs got going on Monday, when Pirelli, the 145-year old Italian tyre maker, announced its intention to float on Borsa Italiana.

    • 04 Sep 2017
  • L&T infra unit applies for India trust listing

    Indian conglomerate Larsen & Toubro has laid out plans to float an infrastructure investment trust, giving the fledgling asset class a boost.

    • 04 Sep 2017
  • AK Medical, LH Group file for Hong Kong IPOs

    AK Medical Holdings is reviving its Hong Kong IPO, filing draft documents for the second time after its initial attempt in April last year proved fruitless.

    • 04 Sep 2017
  • The East is Red

    In the latest Clawback, columnist Philippe Espinasse puts cash trading numbers in Hong Kong under the microscope to some rather interesting results.

    • 04 Sep 2017
  • Manulife Reit eyes fundraise for Jersey tower buy

    Manulife US Real Estate Investment Trust is looking to raise $208m from a rights offering to finance its acquisition of an office building in New Jersey.

    • 04 Sep 2017
  • Zai Lab opens books for $106m US listing

    Chinese biotech firm Zai Lab has launched bookbuilding for a $105.9m IPO of American Depository Shares (ADS), and is counting on US investors favouring start-ups to support the deal.

    • 04 Sep 2017
  • Fairfax Africa ups its Atlas Mara stake to 42.4%

    Fairfax Africa has taken its stake in Atlas Mara, the African investment vehicle co-founded by former Barclays CEO Bob Diamond, up to 42.4% after completing a strategic financing.

    • 01 Sep 2017
  • China Education aims for $300m from HK IPO

    China Education Group is looking to follow a stream of its Mainland peers listing in Hong Kong, and is targeting an IPO of as much as $300m, according to a source close to the deal.

    • 01 Sep 2017
  • China SCE nets $205m as property stocks rally

    China SCE Property Holdings scooped up HK$1.6bn ($204.5m) from an overnight block on Thursday that was timed to perfection, taking advantage of a share price rally to its highest point for the year.

    • 01 Sep 2017
  • Landing, China HKBridge tap equity investors for funds

    Entertainment and gaming company Landing International Development has added HK$1.8bn ($230m) in fresh capital to its coffers after placing a chunk of new shares.

    • 01 Sep 2017
  • Zai Lab eyes Tuesday start for bookbuilding

    Zai Lab is set to kick off roadshows on Tuesday for its $150m IPO on the Nasdaq, according to a banker leading the transaction.

    • 01 Sep 2017
  • Vijaya Bank bags $109m from QIP fundraise

    Indian state-owned Vijaya Bank raised Rp7bn ($109m) from a qualified institutional placement on Thursday, jumping on the chance to tap equity investors after an impressive rally in its stock price.

    • 01 Sep 2017

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 317,691.74 1201 8.90%
2 JPMorgan 291,227.96 1326 8.16%
3 Bank of America Merrill Lynch 285,088.11 991 7.99%
4 Goldman Sachs 217,749.25 714 6.10%
5 Barclays 209,291.80 811 5.87%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 32,320.82 147 6.67%
2 Deutsche Bank 32,259.50 104 6.66%
3 Bank of America Merrill Lynch 28,890.43 85 5.96%
4 BNP Paribas 25,663.29 144 5.30%
5 Credit Agricole CIB 22,617.86 130 4.67%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 18,160.85 71 9.15%
2 Morgan Stanley 15,215.44 76 7.67%
3 UBS 14,195.29 55 7.15%
4 Citi 14,014.57 86 7.06%
5 Goldman Sachs 12,113.98 67 6.10%