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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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Philippines’ Premium Leisure Corp, which was previously called Sinophil Corp, has launched a Php6bn ($135m) placement of shares to investors, with roadshows to continue until the end of next week. -
Korea Development Bank and eight other creditors have netted W190.3bn ($182.3m) by selling a 11.9% stake in Kumho Tire Co on Thursday evening. The leads managed to generate a strong momentum on the transaction despite news of Hyundai Motor’s jumbo $10bn purchase of a property in Seoul putting the market under pressure.
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Singapore’s Keppel Reit Management raised S$228.15m ($180m) through a placement of shares on Thursday, September 19, through a fixed price deal that was well-flagged to investors ahead of launch.
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China Petroleum & Chemical Corp has sold a 29.99% stake in its retail unit to a total of 25 investors through a pre-IPO private placement, netting Rmb107.094bn ($17.42bn). Ratings agencies said the transaction was positive for the selling parent, although its shares fell 8.1% after the trade.
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German internet services firm United Internet raised €352m from a sale of new shares on Monday night.
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The Indian ECM market is set for a busy few months with a pipeline of government-led divestments teed up to hit investors soon, and the country in danger of meeting its target for once. But while some argue the government is not moving fast enough to reduce its fiscal deficit, slow and steady will prove to be the best strategy.
