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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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The chairman and chief executive of the Philippines' Alliance Global Group, Andrew Tan, raised Ps7.87bn ($181.4m) on July 10 by selling a 2.7% stake in the company.
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Chinese logistics company Sinotrans raised HK$1.72bn ($221m) on July 16 through a private placement of shares, which were offered at a juicy discount to its previous closing price.
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A shareholder in Indra Sistemes sold a €77m stake in the Spanish IT and defence firm on Monday night, a deal which bankers said showed that peripheral markets had largely seen off fears of contagion after worries about Banco Espirito Santo.
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The chairman and chief executive of Philippine’s Alliance Global Group, Andrew Tan, raised Ps7.87bn ($181.4m) on July 10 by selling a 2.7% stake in the company.
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Qatar reduced its stake in the London Stock Exchange on Wednesday night ahead of a £1bn rights issue, but a book that was quickly covered was not enough to save the stock from falling with European markets on Thursday.
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Even as Ukraine called off a ceasefire and ordered troops to crack down on pro-Russia protests, Russia’s equity capital markets seemed to return further towards normality with a sale of $470m of the Moscow stock exchange. There is no contradiction between those two events and market participants should cheer the return of nuance.