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Shipping company issues new shares as it raises stake in peer to roughly a fifth
Investors want more mid-cap deals and wider variety of sectors
Cornerstone investors commit roughly €170m as company aims to raise €300m
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Shanghai’s new high-tech board is set to welcome its maiden IPO after Suzhou HYC Technology Co kicks off its roadshow on Friday. The company will be the first Chinese issuer to use a market-driven price discovery process for its Rmb1.01bn ($145m) float, but bankers on the mainland have little doubt the deal will be a success. Rebecca Feng reports. -
Chinese video-based social media platform YY pocketed $850m from a well-timed dual-tranche convertible bond. The deal — launched after repeated indications of interest in US-listed stocks — landed on a burst of risk appetite that followed US president Donald Trump’s tweet confirming his meeting with Chinese leader Xi Jinping at the G20 gathering in Japan next week. Jonathan Breen reports.
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Thailand saw a burst of block trades this week as Singapore’s sovereign wealth fund cleaned up its position in local property developer Land & Houses and BTS Group Holdings sold a chunk of VGI Global Media stock.
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A group of pre-IPO shareholders in Adyen, the Dutch payments company, have sold €311.8m of stock in response to reverse enquiries from investors. The Slovenian government also took advantage of the momentum in the blocks market to sell another 10% of NLB, the country’s largest bank.
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A revised range has been set for the IPO of Trainline, the UK transport booking website, and the deal has enough interest form investors to be priced throughout the new level.
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Equity investors have poured cold water on the notion that a US Federal Reserve interest rate cut this year would be enough to offset the damage to capital markets that a prolonged trade stand-off between the US and China would cause.
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