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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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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. -
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.
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One of Quanta Computer’s shareholders is looking to raise up to $174.1m by offloading some of the company’s global depositary shares (GDSs), through an overnight trade that opened books on the evening of February 4. The deal marks the first sizeable Taiwanese block to hit the market this year.
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Four banks made presentations to the Indian government on Wednesday, February 4, in the hopes of running the divestment of NMDC or National Mineral Development Corp.
