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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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India played host to one of its largest ever ECM transactions last Friday when Coal India completed a Rp226.13bn ($3.68bn) divestment of the government’s stake in a deal that has been two years in the making. Bankers lauded the trade and believe it will keep the momentum going for several more share sales to hit the market before India ends its fiscal year in March. -
Grand Titan Capital Holdings is shedding some of its stake in Philippine conglomerate GT Capital Holdings in a block trade that could raise as much as Ps10bn ($225m).
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India’s HDFC Bank could launch a Rp100bn ($1.62bn) share sale soon to bolster its capital position once it secures all the regulatory approvals.
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KES Power has raised Prp6.375bn ($63m) from a sale of shares in Pakistan’s K-Electric, after shrinking the deal size by nearly half and pricing the delayed block at the bottom of the bookbuilding range. Just two international investors signed up for stock as pressure on the company’s share price, negative news about dividend payment plans and protests in Karachi wreaked havoc on the trade’s execution.
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The Modi administration launched its up to Rp226.13bn ($3.68bn) offer for sale of shares in Coal India on Friday, a mammoth trade which could be one of India’s biggest yet.
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Bookbuilding will close a day later than scheduled for a Rp12.48bn ($125.49m) block in K-Electric after protests broke out in Karachi, crippling parts of the city.
