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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
Naturgy and Zurich fall in secondary market after jumbo blocks
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Oleg Tinkov, the Russian billionaire, has sold a stake in TCS Group Holding, the London-listed Russian retail bank he founded, for the first time since its $1bn IPO in 2013, taking advantage of a strong rally in the stock this year.
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Equity capital markets bankers are eyeing with interest the possibility that Norway’s $1tr sovereign wealth fund might sell all its holdings in oil and gas stocks, potentially creating opportunities for block trades or other structured transactions.
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Thailand’s state-owned energy giant PTT cashed in its stake in Star Petroleum Refining this week, using a clean-up block trade to raise Bt3.71bn ($112.2m), according to a source close to the deal.
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Edelweiss Financial Services has added Rp15bn ($229.6m) to its coffers after pricing its qualified institutional placement at the bottom of the range.
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The De’Longhi family, founders of the Italian maker of coffee machines and kitchen appliances, sold a block of shares in the company on Tuesday night, for the first time since 2012. The shares fell 13% on Wednesday.
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Russian retailer Magnit is continuing its capital raising efforts, after its CEO Sergey Galitskiy sold a block of shares on Tuesday night, in the first leg of what is locally called “a top-up” transaction.