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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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Chinese equities sent jaws dropping again this week after Shanghai posted its sharpest one-day plunge in eight years. While the market quickly picked itself up, equity capital market bankers believe this seesaw action is a huge incentive for mainland investors seeking a haven in Hong Kong, writes John Loh. -
India kicked off its yearly divestment programme with a bang this month after it called for banks to pitch for a fresh round of stake sales. But foreign banks have given it the cold shoulder, with only Deutsche Bank showing up to bid. Bankers are split on whether the government’s new approach will help or hurt its divestment plans, as John Loh reports.
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BPCE, the French banking group, sold a €151m block of shares in Nexity, the French real estate firm, on Tuesday evening, as it continued to implement its plan to divest non-core assets.
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Taiwan’s China Development Financial Holding said is seeking to list its brokerage unit KGI Securities in Hong Kong, under a plan that will see KGI restructuring its Asia Pacific operations in a bid to grow its business lines across Hong Kong and southeast Asia.
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Acromas Bid last night responded to reverse enquiry for Saga shares by selling what was its third block in the UK insurance provider for £141m and what could be one of the last blocks before the August break.
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Power Finance Corp (PFC) has completed bookbuilding for the divestment of a 5% stake in the company by the Indian government, netting at least Rp16.76bn ($262.06m) with an offering that investors piled into.
