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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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Coal India completed one of the country's largest ECM deals on January 30 with a Rp226.13bn ($3.68bn) divestment of part of the government’s stake. Bankers lauded the trade, which had been two years in the making, and believe it will keep the momentum going for several more share sales that are due to hit the market before India ends its fiscal year in March. -
Ho Sha Lam, the wife of Quanta Computer founder and chairman Barry Lam, raised $171.5m by offloading some of the company’s global depository shares (GDSs) through a block trade executed on February 4. The deal was priced at the bottom of guidance, but the tight discount meant this was expected by the placing agent from the beginning.
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HDFC Bank was set to price a blockbuster Rp100bn ($1.6bn) trade on the evening of February 5, with bankers expecting investors to fork out money at the tightest possible discount for the second Indian ECM transaction of more than $1bn to hit the market in the past week.
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Barclays is seeking a stronger footing in Asia Pacific ECM, with the creation of a new role of head of blocks origination. The bank has struggled to make headway in terms of market share in the region, but its strong Japanese franchise, accompanied by its new emphasis on the more profitable blocks business, shows the firm is moving in the right direction, reports Rashmi Kumar.
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The Chung family is making its second attempt at offloading some of its shares in South Korean conglomerate Hyundai Glovis, launching a block trade of up to W1.17tr ($1bn) on the afternoon of February 5. The deal comes only a few weeks after a similar transaction was pulled from the market, having failed to appeal to investors.
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Three block trades are in the market, as secondary placement activity remains busy. The most exotic of the trades is for Sergey Galitsky, founder of the Russian retailer Magnit, who is selling up to 1m shares in the business – apparently to finance improvements to the stadium at his football team, FC Krasnodar.
