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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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Korea Electric Power Corp (Kepco) has raised W855.6bn ($808m) by selling all its treasury shares via a block trade on October 23 to become the largest South Korean ECM transaction so far this year. Priced just above the lower end of the range, the deal resonated well with international investors, with demand from them alone taking books to around three times covered. -
The shareholders offloading some of their stakes in Indonesia’s Link Net raised Rph5.5tr ($455m) on October 24 via a deal that saw a big chunk of the book go to cornerstones and the top 10 investors. Despite the presence of a strong set of cornerstones, the final deal size was truncated by more than 30% due to poor investor sentiment.
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Indian power utility company CESC raised Rp4.91bn ($80m) from a qualified institutional placement on Tuesday night, with demand strong enough for the group to exercise its entire greenshoe option. But the deal was still lower than the $150m approval that the company obtained in September.
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Indian power utility company CESC raised Rp4.91bn ($80m) from a qualified institutional placement on Tuesday night, with demand strong enough for the group to exercise its entire greenshoe option.
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The Islamic Republic of Pakistan’s $816m divestment of some of its stake in Oil & Gas Development Company (OGDCL) is now on track for early November, after a local court order that halted the sale was dismissed by the Supreme Court.
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The shareholders offloading some of their stakes in Indonesia’s Link Net raised Rph5.5tr ($455m) on Friday night via a deal that saw a big chunk of the book go to cornerstones and the top 10 investors.
