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International tension has propelled valuations in the sector up, tempting issuers
JP Morgan sole bookrunner on first jumbo block in a month
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German equity capital markets are set for a strong finish to the year as German companies use the momentum of the DAX to raise capital to finance growth or fund restructuring efforts during the pandemic.
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This month has been the busiest August ever for equity capital markets issuance in EMEA, as dealmaking has powered on through the traditional lull. Market sources expect a very busy September, too.
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A staggering amount of capital has been raised by the world’s airlines so far this year as the industry has suffered its worst crisis since 9/11 as a result of the Covid-19 pandemic.
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Kingdee International Software Group has raised HK$2.38bn ($306.5m) from an overnight placement of new stock.
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Adyen’s senior managers, including its billionaire co-founders, have sold €693m of shares in the Dutch payments company after it declared strong first half results on Thursday.
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Despite a slowdown in the pace of new issuance this month, a strong appetite for share sales by European companies remains — particularly those from sectors benefitting from the pandemic, such as healthcare, technology and renewables.