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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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BBVA raised €2bn of fresh equity on Wednesday evening, to finance its acquisition of a 14.89% stake in Turkey’s Garanti Bank — taking its stake in the bank to 39.9%. The €2bn will pay for the whole stake.
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Philippine conglomerate Ayala Corp’s blue chip reputation helped it net Ps12.35bn ($275m) in a hotly-received top-up placement on November 19, leading to the final offer being increased from an initial Ps8.98bn.
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Hyundai Samho Heavy Industries has offloaded all of its shares in industrial materials producer KCC Corp to net W415.2bn ($374m). Investors were extremely eager to get their hands on KCC’s stock because of its association with Cheil Industries, the de facto holding company of Samsung Group that is preparing for a chunky IPO.
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Big Yellow Group, the UK provider of self-storage space, on Wednesday successfully completed the placing of over 14m new ordinary shares at Tuesday's closing share price of £5.475.
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Hyundai Mipo Dockyard made its exit from Posco by raising W260bn ($237m) on Tuesday night, selling all of its shares in the steel company in a deal that received a rousing reception from the market — particularly from international investors.
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Cairnhill Investments (Mauritius), a wholly-owned unit of Singapore investment firm Temasek, has made HK$727.2m ($94m) by selling some of its holding in Citic Securities, having first invested in the company back in 2011.