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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 UK government could be out of its holding in Lloyds Banking Group before a general election next May after setting itself up for future deals with Europe’s biggest accelerated bookbuild on Tuesday night. The UK government sold 7.8% of Lloyds, taking its holding down to just under 25% and raising £4.2bn.
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Vossloh, a railway part manufacturer, raised €91m through a sale of treasury shares on Tuesday night, proceeds from which will help the firm finance its growth plans.
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Swiss consumer foods firm Hero Group raised HK$1.15bn ($148m) on Wednesday, selling its entire stake in China Huishan Dairy Holdings via subsidiary Spring Harvest.
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With two jumbo block trades from Alpha Bank and Piraeus Bank completed this week, bankers have described the return of the Greek banking sector to favour in the equity capital markets as one of the most startling recoveries after the years of financial crisis.
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An institutional seller sold a €66m block of shares in Gecina on Tuesday night, echoing another sale of the French real estate firm's stock late last year.
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The UK goverment’s sale of part of its stake in Lloyds Bank on Tuesday night, in Europe’s biggest ever accelerated bookbuild, has set the stock up for an even larger sale later in the year that might include retail participation.