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Noba Bank block trade is first from 2025's IPO crop
Barrick confirms plans to spin off its North American gold assets
Commodities trader halves its stake for £132m after shares soar
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India’s Tata Steel has sold down a portion of its stake in automotive unit Tata Motors, pricing the Rp12.5bn ($188.6m) transaction at the bottom of guidance in a trade heavily supported by hedge funds. -
Equity capital markets bankers are looking forward to a busy autumn season of deals in Europe, now that the Federal Open Market Committee’s much-anticipated interest rate decision is out of the way. Deals that had been kept back are now likely to be announced next week.
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Grupo Villar Mir, the family holding company of Juan-Miguel Villar Mir, went head to head with Glencore’s $2.5bn capital raising on Tuesday night, but suffered nothing from the clash, as it sold a 2.36% stake in Abertis Infraestructuras, the toll roads and telecoms infrastructure group.
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Paul Frankfurt, head of equity block trades EMEA at Bank of America Merrill Lynch, is leaving the bank to help set up a global markets operation at Anoa Capital, a Luxembourg-based boutique investment bank.
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A subdued north Asia equity capital market, which has barely seen any activity since August, suddenly burst into life on September 16. American car rental company Hertz reduced its stake in China Auto Rental (CAR) while Taiwan’s TWi Pharmaceuticals sold GDRs on the same day to raise a combined $187m.
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Everything fell into place for Glencore’s $2.5bn capital raising on Tuesday evening, as the company managed to raise its target sum with an accelerated bookbuild as a 9.99% share of its equity, just below the trigger for a rights issue.
