• Infineon Technologies raises €1.5bn for US M&A

  

  Infineon Technologies, the German semiconductor maker, has raised €1.54bn of fresh equity to finance its takeover of Cypress Semiconductor, an American rival, via an accelerated bookbuild.

  • 18 Jun 2019

• Tikehau Capital rises on €1bn growth capital raise announcement

  

  Shares in Tikehau Capital, the French alternative investment manager, rose as much as 3.8% on Tuesday morning after the company announced its intention to raise up to €1bn to finance the next stage of its growth.

  • 18 Jun 2019

• Primary Health Properties sells new £150m CB

  

  Primary Health Properties, the UK real estate investment trust focused on healthcare facilities, plans to raise £150m by selling a new convertible bond due in 2025.

  • 18 Jun 2019

• London-Shanghai Stock Connect goes live as Huatai trades up

  

  Shares in Huatai Securities, the Chinese brokerage, rose as much as 12% on Monday morning after the company’s global depositary receipts began trading in London via the London-Shanghai Stock Connect programme.

  • 17 Jun 2019

• Global Fashion Group offers generous discount to peers

  

  Global Fashion Group, the emerging markets-focused online fashion retailer, has opened the books for its €300m IPO on the Frankfurt Stock Exchange with a price range that pitches the company at a healthy discount to its closest peers Asos and Zalando.

  • 17 Jun 2019

• Airtel Africa targets £3.6bn valuation

  

  Airtel Africa, the African unit of Indian telecommunications group Bharti Airtel, has fixed the price range for its £595m IPO on the London Stock Exchange.

  • 17 Jun 2019

• Traton sets IPO range earlier than expected

  

  Volkswagen surprised the equity capital markets on Friday by setting a range on the IPO of its trucks division, Traton, a few days earlier than most in the market had expected. But the deal has already gained strong investor interest.

  • 14 Jun 2019

• Huatai prices first London-Shanghai Stock Connect sale

  

  Huatai Securities, the Chinese brokerage, has set a price for the sale of global depositary receipts on the London Stock Exchange, the first deal under the new London-Shanghai Connect programme.

  • 14 Jun 2019

• Chinese investors jump on board London Connect as Huatai aims for $2bn

  

  The long-awaited London-Shanghai Stock Connect faced its first test this week as Huatai Securities went on the road with its sale of global depository receipts (GDRs) on the London Stock Exchange. More issuers could follow as mainland investors hunt for opportunities to use their offshore capital, said market participants. Jonathan Breen and Aidan Gregory report.

  • 13 Jun 2019

• Marks & Spencer completes Ocado capital raise

  

  Marks & Spencer has completed its £601m equity capital raising to fund a transformational join-venture with Ocado, following a rights issue and rump share placement

  • 13 Jun 2019

• Geely cashes in on AB Volvo volatility to raise €400m

  

  Chinese automobile conglomerate Geely has used an exchangeable bond to monetise the volatility of its stake in AB Volvo, the Swedish maker of heavy-duty vehicles, to secure €400m of funding at a zero coupon.

  • 13 Jun 2019

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Recent highlights

• Trainline on track for £1.5bn valuation as funds get onboard

  It took just over two hours on Wednesday morning for the IPO of Trainline, the UK transport booking website, to get covered after the company opened the books on its £630m IPO on the London Stock Exchange.

  • 12 Jun 2019

• Kazakhstan reminds investors of transition risk

  Kazakhstan is one of the most interesting and exciting investment stories in the equity capital markets given its privatisation plans. But the events surrounding its election over the weekend reminded investors of the risks they face.

  • 11 Jun 2019

• Honesty should benefit Traton's relaunched flotation

  The spin-off of Traton, the trucks division of Volkswagen, has been relaunched after the IPO was postponed earlier this year due to volatility caused by the trade tensions between the US and China. Traton may not excite many growth investors, but it is a rock solid German industrial asset that isn’t trying to persuade investors it is anything else, unlike a string of recent flotations in the US and Europe.

  • 11 Jun 2019

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Deals in the pipeline

• Faites vos jeux! Macron renews privatisation drive
• Spain’s ACS plans renewables IPO in autumn
• Walmart mulls flotation of Asda after blocked Sainsbury’s merger
• Mustier tight-lipped about UniCredit M&A plans after €1bn Fineco share sale
• Siemens preps power and gas spinoff in 2020
• BlackRock backs out of Carige recap, raising bailout fears
• Uzbekistan the new frontier as Central Asia privatisations lure global money
• Oligarchs flock to sell shares as Russia bid returns
• African IPOs coming to London, despite political hurdles
• Sources say small IPO of Naspers' Tencent stake possible
• Deutsche cash call to fund Commerz merger far from certain
• Traton postpones IPO after buyers balk at valuation
• Continental moves forward with powertrain unit spinoff
• Bharti Airtel names banks for Africa spin-off
• Kazakh privatisation wave kicks off with nuclear IPO
• LeasePlan pulls Amsterdam IPO amid global market sell-off
• Hassan Allam preps listing in London and Eygpt
• Schibsted to float online classifieds business
• Investec to list asset management arm
• Trade war tensions push Volvo Cars to postpone jumbo IPO
• Sibur IPO talk premature, says CFO
• Swiss Re mulls spinoff of UK closed-book life division
• Bob Diamond buys Kepler stake, IPO possible later
• EN+ sale coming as Deripaska steps back for sanctions relief
• Vodafone to try equity-neutral mando magic again
• Reit market is choppy, but don't dismiss social housing
• Sausage sliced: sanctions stall Cherkizovo IPO
• IPO window reopens to test investor sentiment with EM flavours
• Africa back in the spotlight for equity buyers
• Market loses second jumbo Swiss IPO as HNA postpones Swissport
• Belfius postpones IPO until autumn amid fears of row with government

Completed deals

• Tinkoff takes advantage of Russia thaw to raise capital
• Greencoat UK Wind completes tenth equity raise since IPO
• Aquila raises €154m for London renewables fund
• Tritax EuroBox wraps up €135m fundraising for property investments
• First Bawag block since IPO flies after careful wallcross
• Serco rises as market backs US naval services M&A
• JP Morgan issues €400m Siemens synthetic
• Orpea, GN Store get top terms on new CBs
• Finablr reduces price to cover IPO
• HelloFresh trades up after sale removes Rocket overhang
• Vonovia raises €744m in block despite red day for markets
• Metro Bank cheers Brexit-weary UK with £375m block
• Largest Saudi IPO in years prices in Riyadh
• Headhunter's Nasdaq float breaks Russian IPO duck
• Tesla asks Wall Street for $2.3bn to shore up falling cash reserves
• Sirius digs deep with $2.8bn project financing
• General Atlantic and Index sell part of Adyen stake
• Loungers stays above issue in trading
• Russia momentum continues with LSR block
• Kaupthing Bank sells 10% of Arion Banki
• Centerbridge Partners sells 13% of Banca Farmafactoring after share price rally
• Vodafone mando surprise: issuer happy with S&P treatment
• Vodafone sells new $2bn hybrid after mando equity credit loss
• Steinhoff 'saga' continues with further asset sales
• Goldman sells Hochtief block as part of equity collar hedge