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Deal multiple times oversubscribed as investors buy into electrification and AI story
Shareholders sell down holdings in AutoStore and Orsted, as shipping company opens books ahead of Athens parallel listing
Deeply discounted financing allows embattled iron ore miner to restart Ukrainian production and shares to resume trading
International investors take most of the book for the first time as Zabłocki's investment firm says it expects to make no further sales
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No new IPOs are likely to be launched before the equity markets slow for the summer. There is still some block sales business to do, although sentiment in that market remains severely bruised. -
Absa Bank and Rand Merchant Bank are selling a 2.9% stake in Shoprite, the South African food retailer, as part of a derivative transaction with Christo Wiese, chairman of Shoprite and former chairman of Steinhoff International.
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The market for equity block trades in EMEA has lost some of its shine, with volumes down on last year, and a string of failed trades. This poor performance is in stark contrast to a resurgent IPO market, which in the last two weeks has generated strong returns for investors.
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WuXi Biologics’ controlling shareholder has raised HK$3.96bn ($504.6m) after selling a block of shares in the company.
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A sell down in India’s ICICI Prudential Life Insurance by its parent, worth up to Rp11.2bn ($164.8m), has been warmly embraced by institutional investors.
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Credit Suisse found itself long of stock in Neste Corp, the Finnish oil refiner, after an €861m sale of shares by the Finnish government on Tuesday night. The failed block trade has prompted equity capital markets bankers to ask whether the market has become much more unforgiving this year, writes Aidan Gregory.
