ABBs/Block Trades - All Articles

  • Samsung heir offloads $319m SDS stake

    The heir to Samsung Group has raised W382bn ($318.7m) by selling part of his holding in Samsung SDS, a subsidiary of the South Korean conglomerate.

    • 29 Jan 2016
  • Cochin Shipyard preps IPO as Engineers nearly covered

    The Indian government is seeking bookrunners for the divestment of shares in wholly-owned Cochin Shipyard via an IPO, issuing a request for proposals to banks on Thursday.

    • 29 Jan 2016
  • Government plans $98m Engineers India sell down

    The Indian government is to sell down a 10% stake in oil and gas company Engineers India via an offer for sale on Friday and is hoping to net around Rp6.63bn ($97.69m) based on its market capitalisation.

    • 28 Jan 2016
  • Pakistan updates rules for stock market fundraising

    The Securities and Exchange Commission of Pakistan (SECP) has made a series of changes to rules governing companies raising capital in its stock market.

    • 25 Jan 2016
  • Maybank, CIMB add to ECM teams

    Maybank has hired Naguib Hussin from CLSA for its equity capital markets desk in Malaysia. He replaces Norly Khalim, who has transferred to another department within the Malaysian lender.

    • 22 Jan 2016
  • Quick Heal to launch $80m float in February

    India's Quick Heal Technologies wrapped up investor meetings for its $70m-$80m IPO last week and plans to open books in mid-February, according to sources.

    • 21 Jan 2016
  • South Korea ECM: Block the public’s view

    Doosan Group exited from Korea Aerospace Industries this month via a block, which in a move away from traditional sell-downs in Asia, was executed as a private placement. Privately placed blocks appear to be emerging as a new solution for deals during tough times — and it’s an approach that other South Korean vendors should replicate.

    • 19 Jan 2016
  • India ECM round-up: Quick Heal, Reliance, Pipavav

    India's Quick Heal Technologies wrapped up investor meetings for its $70m-$80m IPO last week and plans to open books in mid February, according to sources.

    • 19 Jan 2016
  • IDBI glad-hands investors for Rp38bn QIP

    IDBI Bank’s top management are doing the rounds with investors as they try to drum up interest for a Rp38bn ($561.3m) qualified institutional placement.

    • 18 Jan 2016
  • Cadila gets approval for Rp50bn QIP

    Indian company Cadila Healthcare is gearing up for a Rp50bn ($741.1m) qualified institutional placement after the country’s Foreign Investment Promotion Board gave it the go ahead this week.

    • 15 Jan 2016
  • Lufax invites bids for $5bn Hong Kong IPO

    Chinese peer-to-peer lender Lufax is calling on banks to pitch for its $5bn listing in Hong Kong, expected to be the city’s largest float in 2016.

    • 15 Jan 2016
  • LIG Nex1 block fetches $100m for STIC

    STIC Investment sold down a W121bn ($99.5m) block in South Korean defence firm LIG Nex1 on Thursday, with the trade proving irresistible to investors amid ongoing geopolitical tensions in the country.

    • 15 Jan 2016
  • Citi and UBS in fighting form as Elior, Ferrovial block trades soon covered

    Two sellers took advantage of a slightly upward trend in European markets on Wednesday to sell blocks of shares totalling €792m. Reassuringly to bankers, both deals got covered.

    • 14 Jan 2016
  • Jabez raises $96m from Hyundai Securities block sale

    Jabez Private Equity Fund I offloaded the remainder of its holdings in South Korea’s Hyundai Securities Co on January 7, fetching W115bn ($96m) from the fixed price offering.

    • 14 Jan 2016
  • Privacy is golden in volatile Asian block markets

    Doosan Group sold the third Asian block of the year this week and, in an unusual approach, opted for a private placement. If markets remain volatile, bankers predict many more of the region’s blocks may follow suit. Jonathan Breen reports.

    • 14 Jan 2016
  • Strong domestic demand drives LIG Nex1 $100m block

    STIC Investment launched a W121bn ($99.5m) sale of shares in Korean defence company LIG Nex1 on Thursday evening, confident they could cover the block with domestic investors.

    • 14 Jan 2016
  • Citi covered on Elior trade for Charterhouse

    Citigroup has on Wednesday night launched the first European equity block trade of the week, selling 12m shares in Elior, the French catering company, for about €212m.

    • 13 Jan 2016
  • ECM deal flow begins as markets get over China blues

    The start to 2016’s equity business has not been easy, with markets doing little to help convince issuers to pull the trigger. But European stockmarkets have settled down, and are managing sometimes to trade well even on days when China’s market falls.

    • 13 Jan 2016
  • Dalian scoops $559m from placement

    Dalian Port Co has raised HK$4.33bn ($558.55m) from the first tranche of its private placement of H-shares, with a single investor taking up all the stock on offer, according to a company filing.

    • 13 Jan 2016
  • CIMB merges equity origination and syndicate desks

    Malaysia’s CIMB is understood to have rejigged its equity capital markets operations, with Patrick Tan named the new head of ECM and syndicate for Asia, according to sources.

    • 13 Jan 2016
  • Doosan offloads KAI stake with W305bn block

    Doosan Group jumped at an opportunity to exit from Korea Aerospace Industries this week, agreeing to a fixed price for its W305bn ($251.4m) block and offering an attractive discount of nearly 8%.

    • 12 Jan 2016
  • Narrow window and choppy markets could delay blocks, bankers say

    Bankers active in the European equity block trade market fear this week may bring little activity, as looming earnings blackouts and unceasing volatility in stocks continue to discourage owners from selling shares.

    • 11 Jan 2016
  • IDBI picks seven banks for Rp38bn QIP

    India’s IDBI Bank has named a group of seven banks to manage a qualified institutional placement, according to a source involved in the transaction.

    • 08 Jan 2016
  • Jabez raises $96m from Hyundai stake sale

    Jabez Private Equity Fund I offloaded the remainder of its holdings in South Korea’s Hyundai Securities Co on Thursday, fetching W115bn ($96m) from the fixed price offering.

    • 08 Jan 2016
  • Rough start to equity trading allows opportunistic sales, makes IPOs look hard

    The gloomy start to the year in global stock markets is casting doubt on plans for equity capital markets issuance in the first quarter, write Jon Hay and Olivier Holmey.

    • 07 Jan 2016
  • €1bn NN block shows right name on right day can get deep bid

    The start to 2016’s equity capital markets business in Europe has been tricky, but the action on Tuesday showed that high quality deals can get done very well, provided they come in a suitable window.

    • 07 Jan 2016
  • China heaps fresh turmoil as global stocks crumble

    China tested the limits of reform in its stock market this week with disastrous consequences. Equity markets fell globally after China heaved yet more volatility on investors, and mainland stocks saw their worst ever start to the year. The turmoil caught equity capital market bankers off guard, but panic has not set in yet, writes John Loh.

    • 07 Jan 2016
  • Korean block blunder deals rocky start for coming surge

    A South Korean deal kicked open the Asian block market this week but complications in the execution have set a negative tone for the country’s equity capital markets, where numerous share sales are expected in 2016. Jonathan Breen reports.

    • 07 Jan 2016
  • Safran, NN deals trade well, though markets rough again

    Wednesday brought red back to equity traders' screens after a buoyant Tuesday, but trading action confirmed the satisfactory execution of this year’s first two substantial equity capital markets deals in Europe: the €1.03bn block trade in NN Group, the Dutch insurer, and French aerospace firm Safran’s €650m convertible.

    • 06 Jan 2016
  • Blocks market hopes to remain pre-eminent ECM business

    IPO, rights issue and equity-linked volume were all down in 2015, so the fact that block trades maintained their 2014 level of issuance made them the stand-out business of the year in equity capital markets. Now stocks participants are asking themselves if they can keep up the pace. Olivier Holmey reports.

    • 06 Jan 2016
  • ECM makes bold start with hit block trade and CB

    Europe's equity capital market lost no time in hitting back after the scary start of Monday, when world markets tumbled after China's stockmarket went into freefall and Saudi Arabia and Iran's war of words became more rancorous.

    • 06 Jan 2016
  • Hanwha nets $235m from smaller Korea Aerospace block

    The Asian block market started with a jolt this week as Hanwha Techwin Co was forced to trim a W282.1bn ($235m) sale in Korea Aerospace Industries. The deal stumbled during bookbuilding after a separate sale in the company was marketed to the same investors at the same time, setting a negative tone for future block trades in South Korea.

    • 06 Jan 2016
  • ING opens 2016 equity sales with hit €1bn NN Group block trade

    If Monday was an ugly beginning to 2016 in the equity capital market, with a 7% fall in Chinese stocks dragging world indices down, Tuesday has been much cheerier, even bringing deals in Europe.

    • 05 Jan 2016
  • Korea Aerospace Industries in $310m block

    A W364.50bn ($309.64m) block has been launched in aircraft parts maker Korea Aerospace Industries, with vendor Hanwha Techwin Co looking to pare down its stake.

    • 05 Jan 2016
  • Dalian Port and Huishang Bank in H-share deals

    Dalian Port Co is waiting for market volatility to recede before completing an H-share placement that could raise around HK$5.83bn ($752.05m) based on its market capitalisation.

    • 04 Jan 2016