Hail of smallish block trades enlivens ECM
Despite corporate close periods limiting the scope for equity block trades this week, a fistful of sellers came to the market this week, many of them to sell stocks that floated last year.
On Tuesday night, Rosneft, the Russian state-controlled oil producer, sold its final 12% stake in Saras, the Italian refiner and electricity producer, for €174m.
Bookrunners Credit Suisse and UBS got the block of 114m shares covered 20 minutes after launching it, without wall-crossing, at €1.50 to market.At ...
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