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Booming metal prices could bring more equity deals
International tension has propelled valuations in the sector up, tempting issuers
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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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Biotechnology company WuXi Biologics Holdings has completed a HK$3.81bn ($487m) sale of a part of its stake in subsidiary WuXi Biologics (Cayman), its second sell-down in the stock in less than three months.
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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.
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Xinyi Glass Holdings and Xinyi Group (Glass) Co sealed a HK$1.18bn ($150.3m) block trade of Xinyi Solar Holdings' shares on Monday after a lock-up expired on their positions in the company.
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Singapore’s sovereign wealth fund GIC has bagged Bt9.1bn ($290.7m) after offloading its position in Thai property developer Land & Houses, according to a source close to the deal.