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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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UBS scooped another block trade in Hugo Boss shares on Monday night, for €918m, following the €500m underwritten trade it had conducted in December. Private equity firm Permira has been selling down its stake – and there is probably now just one block trade left to do in the stock.
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Metro Pacific Investments Corp (MPIC) raised Ps8.9bn ($200m) on the evening of February 9 through a top-up placement dominated by demand from long-only funds, as investors took advantage of growth opportunities available in the Philippine stock market.
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HDFC Bank raised Rp98.7bn ($1.6bn) in new equity from a simultaneous follow-on of American Depositary Shares (ADS) and a qualified institutional placement (QIP) on Thursday, as funds bet on the stock as one of the best proxies to India’s growth.
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The Chung family has finally managed to shed some of its shares in South Korean conglomerate Hyundai Glovis, raising W1.16tr ($1.06bn) via a block trade on February 5 that hit the market less than a month after an earlier transaction failed to gain traction among investors. The presence of a domestic bookrunner, longer lock-ups on the selling shareholders and more proactive conversations with investors ahead of launching the trade ensured that this time round there was no room for any botch-up.
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Equity block trade activity picked up in Europe this week, though bankers still think it can get busier, as companies emerge from blackouts in the coming weeks.
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China is considering overhauling regulation of foreign investment into the country. It could tighten the screws on foreign ownership of its booming technology sector and steer more Chinese firms toward dual class shareholdings, if it approves a draft law that addresses the use of the variable interest entity (VIE), writes John Loh.