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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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Hong Kong-listed Brightoil Petroleum has pulled a HK$776.75m ($100.19m) block deal after launch, with the company saying the trade was not in its best interests. -
Swiss company Holcim has shed its stake in Siam City Cement to net Bt22.15bn ($679m), via a bookbuilding process that ran from March 26 until last weekend, as key investors took their time placing orders.
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At the end of a very busy quarter of block trades, business continues – despite the approach of Easter holidays. Tonight, UniCredit won an auction to sell 10.5% of Jenoptik, the German optical systems company, while during the day Goldman Sachs placed £164m of stock in Aviva.
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Taiwan’s TPK Holding is tapping the equity capital markets to raise $286.4m from a combination of placement and a convertible bond, with the latter issuance marking Asia ex-Japan’s very first $100m-plus equity-linked product for the year.
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Hong Kong-listed China Traditional Chinese Medicine Co has raised HK$4bn ($516m) after selling shares via a private placement to 25 investors.
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American International Group (AIG) is looking to raise as much as HK$3.93bn ($507m) by offloading some of its shares in PICC Property & Casualty, launching the block trade on the evening of March 30.
