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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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Great Eastern Holdings is looking to shed some of its stake in New China Life Insurance, launching a block trade after markets closed on April 13 which will net it between HK$4.29bn and HK$4.40bn ($554m-$568m). -
The Pakistan government’s divestment programme for the year has started on an amazing footing, with the country completely exiting Habib Bank via a sale that added a whopping Prp102.3bn ($1bn) to its coffers.
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Thailand’s Charoen Pokphand Group and Japan’s Itochu Corp have divested a collective 1% stake in Citic Limited via a HK$3.67bn ($474m) block executed on Saturday, April 11, which saw shares allotted on a club-style basis rather than via a fully-fledged bookbuild.
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Central China Securities is setting its sights on issuing new H-shares to raise funds via the private placement route, as debate continues over a Chinese requirement to give up 10% of any state-owned enterprise public equity offerings to the national pension fund.
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Citic Capital Financial Holding exited its holdings in China Cinda Asset Management via a clean-up trade on Thursday, raising HK$1.09bn ($140.47m). The block was launched amid a 30% rally in China Cinda’s shares, but that proved no barrier as investors were more than happy to get their hands on the deal.
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The Securities and Exchange Board of India (Sebi) is considering tweaking rules imposed on secondary sales of stock via the offer for sale (OFS) mechanism — a way by which owners of listed companies can reduce their holdings.
