Phosagro builds momentum
Bookrunners for Phosagro said that books had grown further on the minimum $500m deal after being fully covered across the base deal and greenshoe on Tuesday morning, with a full week of bookbuilding left to run. Those working on the $375m float of this week’s only mid-cap new issue, that of Ophir Energy which is due to close on Thursday, are yet to provide any message, though the deal is said to be progressing well amid the stronger market back-drop.
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