• SRI needs to look at financial firms’ liabilities

  

  When looking at banks and insurance companies, the sustainable finance movement has so far focused mainly on their assets rather than their liabilities. But insuring or offering deposits for a particular activity is just as important as lending to or investing in it.

  • 10 Dec 2018

• GlobalCapital Asia capital markets awards 2018: Equities

  

  In part two of our results announcements, we reveal the winning equity deals and banks, including the Best Follow-on/Accelerated Bookbuild, Best Equity-Linked Deal, Best IPO, Best ECM Deal and Best ECM House.

  • 10 Dec 2018

• Interserve plans critical debt for equity swap

  

  The UK’s Interserve plans to swap a "substantial" portion of its debt for equity, as the embattled support services and construction firm tries to avoid the same fate as government contractor Carillion.

  • 10 Dec 2018

• AJ Bell sparkles in aftermarket following £173m IPO

  

  AJ Bell surged by more than 30% in the aftermarket on Friday after the Manchester-based investment platform priced its £173m IPO on the London Stock Exchange at the mid-point of the initial range.

  • 07 Dec 2018

• Ice pulls Nkr3bn IPO as equity markets plunge on trade fears

  

  Ice Group, the Norwegian mobile phone company, on Thursday called off its second attempt to list on the main board of the Oslo Stock Exchange, blaming turbulence in global equity markets.

  • 06 Dec 2018

• Akbank unveils TL3bn recap as economic clouds gather

  

  Akbank, one of the largest banks in Turkey, is preparing a TL3bn ($558m) rights issue amid fears of an increase in non-performing loans as the Turkish economy enters a slowdown.

  • 06 Dec 2018

• Almirall prints debut €250m convertible bond

  

  Almirall, the Spanish pharmaceuticals company, has issued its first convertible bond with an equity-neutral structure, having attracted “strong outright demand” from institutional investors, according to a banker on the deal.

  • 06 Dec 2018

• ECM focus shifts to 2019 as bruising year enters final stretch

  

  The equity capital market has virtually closed for the year with work focusing on planning deals for 2019, said bankers, although some deals are still getting done.

  • 05 Dec 2018

• Sorrell’s S4 Capital to raise £74m to fund second takeover

  

  S4 Capital, the digital advertising and marketing services company created by Martin Sorrell, the former CEO of WPP, has agreed the terms of its second acquisition and is partly financing the deal through a £74m placing and open offer on the London Stock Exchange.

  • 04 Dec 2018

• Now on sale: Carige’s 13% tier two

  

  The Italian Interbank Deposit Protection Fund (FITD) has underwritten €320m of Banca Carige’s tier two capital notes. Private investors are now invited to subscribe to the issue, which allows the Italian lender to meet its capital targets.

  • 03 Dec 2018

• Zur Rose completes rare at-market rights issue at 10.7% discount

  

  Zur Rose, the Swiss online pharmacy, has completed its Sfr200m ($200.8m) at-market rights issue to fund the acquisition of a German e-commerce platform, following the sale of a rump placement on Wednesday evening.

  • 29 Nov 2018

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Recent highlights

• Cosmo Pharma stock drops 16% after €175m CB surprises funds

  Shares in Cosmo Pharmaceuticals, the Swiss-listed maker of gastro-intestinal drugs, plummeted by 16% on Thursday after it had launched a €175m convertible bond on Wednesday evening, after market close.

  • 29 Nov 2018

• Norwegian telecoms disruptor Ice sets out for IPO

  Ice Group, the Norwegian telecoms company, hit the road with a Nkr3bn ($351.4m) Oslo Bors IPO on Tuesday, which it hopes will give it the funds to break the country’s telecoms duopoly.

  • 28 Nov 2018

• Investor bearishness determining January IPO calendar

  European equity investors remain understandably nervous of adding risk to their portfolios, and ECM bankers are tailoring their approach to 2019 IPOs to deal with increased bearishness.

  • 28 Nov 2018

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Deals in the pipeline

• 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
• Gategroup pulls IPO on valuation pressure, Godewind resizes
• Axel Springer, United Internet to float merged marketing unit

Completed deals

• Blocks momentum continues with Christian Hansen, Discovery trades
• NLB IPO prices at bottom of the range
• Netcompany ABB trades up in aftermarket after increase
• Masmovil raises €360m to settle convert
• BioPharma Credit grows capital raising to $305m
• Goldman long of Bureau Veritas stock after €400m block
• AVI raises £80m for Japanese activist fund
• Arima Real Estate shrinks its deal but gets €100m IPO
• Neoen trades up through vol to give investors cheer
• Shurgard narrows IPO price range, covered throughout
• Westwing trades below issue price on debut in Frankfurt
• Aston and Funding Circle trading fails to diminish IPO market
• Burford Capital raises £196m of fresh equity
• France sells slice of Safran as part of Macron privatisation drive
• Aston Martin races to £4.3bn valuation but trades down
• Basic Fit block sells fast but dips slightly in trading
• Blackstone achieves smooth execution on Intertrust sale
• RAG-Stiftung bags €1bn from Evonik sales
• Trian prices £270m SPAC in London
• Glencore proves arb is not dead with $125m equity-neutral tap
• Sulzer pockets Sfr15m profit on sanctions relief trade
• Korian issues €60m tap of hybrid perpetual CB
• Cipla IPO could tempt other African issuers to go local
• Sumitomo Forestry issues first ever green convertible bond
• SGL Carbon powers through convertible bond