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ABBs-Block Trades

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Sfr4.9bn trade is largest European ECM deal since National Grid’s £7bn rights issue in 2024
Offer came as markets recovered and volatility fell
Latest block this week in volatile conditions
Naturgy and Zurich fall in secondary market after jumbo blocks
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  • RAG-Stiftung, the German foundation created in 2007 to support the discontinuation of the country’s coal mines, opted to a block trade alongside an exchangeable bond to sell a 7% stake in Evonik Industries, the German speciality chemicals company, for €1bn.
  • Allahabad Bank is looking to make its first outing to the equity capital market since 2005 to raise some Rp15bn ($208m).
  • India’s Azure Power Global is in the market for a $185m capital increase that will be priced before its New York Stock Exchange-listed shares resume trading on Friday.
  • Two Samsung-linked units raised W927bn ($829m) from a sell-down in Samsung C&T Corp on Thursday, capping a flurry of overnight block trades from South Korea this week.
  • Mapletree Logistics Trust sealed its second overnight fundraising for the year and its largest follow-on offering in a decade on Wednesday, bagging S$375m ($274m) to acquire properties in Singapore.
  • Two Samsung-linked units are selling down their remaining shares in Samsung C&T Corp through an accelerated block that could raise as much as $829m.