Citi was the sole bookrunner and underwriter on a Sfr2.55bn block trade in Sika, the Swiss chemicals company, sold by Saint-Gobain on Tuesday night — but the deal was not covered.
Investors welcomed a €781m trade in Italian payments firm Nexi on Tuesday evening after three of the sellers from the firm's IPO took advantage of a recent rally in the share price to cut some of their stake.
Equities and investment-grade bonds are overpriced in developed markets, according to Tommy Garvey, member of the asset allocation team at GMO.
Muddy Waters has fostered a fearsome reputation as a credible, thorough and forceful short seller whose explosive reports are a danger to anyone harbouring a stake in its intended target.
Infineon, the German manufacturer of semiconductors, has completed a €1bn capital raise to partially refinance its acquisition of Cypress Semiconductor Corporation.
RAG Stiftung has sold half of its stake in Stadler Rail, the train manufacturing company that floated on the SIX Swiss Exchange last year.
Investors have poured in orders on the first official day of book building for the Amsterdam IPO of coffee company JDE Peet’s.
Chinese companies are likely to consider London as an alternative foreign listing venue, according to sources speaking to GlobalCapital, following a regulatory crackdown in New York and increased political tensions between the US and China.
The German government has waved through a €9bn bailout package for flag carrier Lufthansa, paving the way for the state bailout fund to own up to 25% of the company.
The IPO of JDE Peet’s, the coffee business owned by JAB Holdings, is the first true test of investor appetite for European IPOs since the Covid-19 crisis began.
Shares in AJ Bell, the UK stockbroker, fell heavily in trading on Friday after Invesco sold a 7.6% stake in the company following first quarter results.
In the classic UK sitcom Yes, Minister, cunning civil servant Sir Humphrey Appleby would try to deter government minister Jim Hacker from making a particular decision by calling it "courageous" — meaning it was risky.
Shares in On the Beach Group, the UK online retailer of beach holidays, traded as much as 10% higher on Friday morning after the company said it had raised £67m from investors to keep itself afloat following a dramatic fall in the volume of bookings during the Covid-19 global pandemic.
Whitbread, the parent of Premier Inn and Beefeater Restaurants, has unveiled plans for a £1bn rights issue tp bolster its balance sheet following mass disruption in the hospitality industry during the Covid-19 pandemic, which has forced the closure of pubs and hotels in the UK.
A Pln700m ($168.9m) selldown of stock in Play Communications, the Polish telecommunications company, has shown that investor appetite towards some emerging market stocks is still alive, despite the asset class being hit hard during the Covid-19 pandemic.
Exasol, the German database analytics firm, priced its IPO on the Frankfurt stock exchange on Tuesday, attracting vast levels of demand from investors, despite books only being open for two and a half days.
SM Trust has offloaded €521m of stock in Just Eat Takeaway.com, the online food delivery company, following a rally during the Covid-19 pandemic as more customers order meals to their houses.
Compass, the FTSE 100 listed catering company, raised £1.8bn in an accelerated transaction on Tuesday, the largest UK Covid-19 capital raise so far.
JAB Holdings, the holding company of the Reimann family in Germany, will the first major test of investor sentiment towards IPOs in Europe during the pandemic, having announced its intention to float JDE Peet, its coffee business, on Tuesday morning.
Eurofins Scientific, the French-listed bio-analytical testing company, completed a €535m capital raise on Monday night, to fund investments and capital needs for more Covid-19 testing.
JP Morgan has announced a restructuring of its equity capital markets team, after a solid start to 2020.
Chinese companies are likely to consider London as an alternative foreign listing venue, according to sources speaking to GlobalCapital, following a regulatory crackdown in New York and increased political tensions between the US and China.
Citi was the sole bookrunner and underwriter on a Sfr2.55bn block trade in Sika, the Swiss chemicals company, sold by Saint-Gobain on Tuesday night — but the deal was not covered.
In the special situations arena there are few situations quite as special as a global pandemic, and few opportunities quite as large for investment firms that manage to navigate the sell-off in corporate credit, bank loans, CLOs and securitizations correctly. GlobalCapital spoke to Dan Zwirn, founder, CEO and CIO of Arena Investors, and a 25 year veteran of distressed debt and special situations investing about buying free volatility, where to play in retail, and why the CLO market has much further to fall.
Technicolor has asked its lenders to waive a default condition so it can appoint a conciliateur and begin a consensual debt restructuring process that includes €400m of new financing and a debt-for-equity swap. This follows the failure of the company’s planned €300m rights issue, announced in mid-February but thrown off course by the coronavirus pandemic.
Muddy Waters has fostered a fearsome reputation as a credible, thorough and forceful short seller whose explosive reports are a danger to anyone harbouring a stake in its intended target. Carson Block, its founder and chief investment officer, told GlobalCapital he has never been wrong about a company he’s shorted, though that doesn’t mean he’s made money from every position he has held. According to Block, monetary policies intended to stimulate markets through financial crises actually corrode them, and stifle accountability for serious failures in corporate governance.
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