ABBs/Block Trades - All Articles

  • Block rain includes Axel Springer and TMK of Russia

    Tonight’s hail of block trades includes, besides the Lonza and Zoopla deals, at least two other transactions.

    • 31 Jan 2017
  • Zoopla gets £76m to buy Hometrack in block flat to close

    Zoopla Property Group, the UK owner of property search websites, completed an accelerated bookbuild on Tuesday night to raise £76.5m of new capital, to buy, a property information service.

    • 31 Jan 2017
  • Lonza's Sfr865m block covered in 40 minutes

    Lonza, the Swiss pharmaceuticals company, completed a 9.4% capital increase through a Sfr865m accelerated bookbuild on Tuesday night led by UBS and Bank of America Merrill Lynch, the first step in a two-pronged move to raise Sfr3.3bn for an acquisition.

    • 31 Jan 2017
  • TLG Immobilien increases capital 10% via JP Morgan, UBS

    Shares in TLG Immobilien, the German real estate company, fell 1.6% on Tuesday morning after it completed a 10% capital increase on Monday night to finance the acquisition of more retail and office properties in Germany.

    • 31 Jan 2017
  • Oaktree sells 10% of Countryside Properties in first block since IPO

    After a moderate recovery in the value of many UK property stocks since their post-EU referendum slump, Oaktree Capital took the opportunity on Thursday night to sell 10% of Countryside Properties, the UK home builder, for £103.5m.

    • 27 Jan 2017
  • BXR-Bakala vehicle exits Ferrexpo through £126m ABB

    Shares in Ferrexpo, the Swiss-headquartered iron ore producer active in Ukraine, rose 3.3% on Friday morning after Wigmore Street Investments sold its entire 13.2% stake through an accelerated bookbuild.

    • 27 Jan 2017
  • OHL’s Abertis block comes flat to close

    Obrascón Huarte Lain, the Spanish construction company, sold a 1.84% stake in Abertis, the Spanish toll roads group, through an accelerated bookbuild launched on Monday evening that was covered very quickly after launch and priced with no discount to the close.

    • 23 Jan 2017
  • Colony Capital sells final Edenred stake after off-market placement

    Shares in French voucher provider Edenred closed 1.6% lower on Friday after Colday, a vehicle for Colony Capital, turned to the blocks market on Thursday evening to sell a residual 5.7% of the company.

    • 20 Jan 2017
  • Hail of smallish block trades enlivens ECM

    Despite corporate close periods limiting the scope for equity block trades this week, a fistful of sellers came to the market this week, many of them to sell stocks that floated last year.

    • 19 Jan 2017
  • Li Ning, Maybank blocks raise vendors combined $133m

    TPG Stallion Holdings raised HK$542.7m ($70.0m) after offloading a chunk of its stock in Chinese firm Li Ning Co this week, while Malaysia’s Federal Land Development Authority (FELDA) sold a block of Maybank shares for MR281.7m ($63.3m).

    • 19 Jan 2017
  • Swedish Match launches second Scandinavian Tobacco Group ABB

    Swedish Match is selling a 9% stake in Scandinavian Tobacco Group, the Copenhagen-listed cigar and pipe tobacco producer, this evening (Wednesday) though an accelerated bookbuild led by Deutsche Bank and Nordea.

    • 18 Jan 2017
  • Appetite for Russia returns as top banks launch Detsky Mir IPO

    The thaw in Western equity investors' and banks' sentiment towards Russia continued this week as Detsky Mir, the toy retailer, announced plans for the first Russian IPO of 2017, to be led by an array of bulge bracket investment banks.

    • 18 Jan 2017
  • TPG Stallion sells down Li Ning stake for HK$543m

    TPG Stallion Holdings has raised HK$542.7m ($70.0m) after offloading a chunk of its shares in Chinese firm Li Ning Co.

    • 18 Jan 2017
  • Malaysia’s FELDA nets MR282m with Maybank block

    Malaysia’s Federal Land Development Authority (FELDA) has bagged MR281.7m ($63.1m) after offloading a chunk of its shares in Maybank, according to a source close to the deal.

    • 17 Jan 2017
  • Banks pounce to sell £39m of Forterra on Friday night

    Lone Star has made its first sale of stock in Forterra, the UK brickmaker, since its IPO last April. The block trade was doubly unusual, in being done on Friday evening and not being led by the IPO bookrunners.

    • 16 Jan 2017
  • Blocks pace quickens as Dutch state sells €452m chunk of ASR

    The acceleration of equity block trading in Europe continued on Thursday evening, when NLFI, the organisation that manages investments for the Dutch government, launched the sale of a 13.6% stake in ASR Nederland, the insurer nationalised during the financial crisis.

    • 13 Jan 2017
  • France enlarges Engie block to €1.1bn and prices it well

    Shares of Engie, the power and gas company, traded solidly on Wednesday and Thursday after the French government's block trade in the stock on Tuesday night won strong demand, enabling the lead managers to increase it by 10% and price above the bottom of the marketed range.

    • 11 Jan 2017
  • France energises EMEA ECM with €1.1bn Engie block

    With most senior bankers and investors now back from holidays, equity capital markets in EMEA have burst into life this week, with the launch of two large capital increases and a sizeable state block trade in Engie.

    • 11 Jan 2017
  • India to streamline state divestments for investors, banks

    India’s government is making its divestment process in state-owned firms more transparent by creating two new information-sharing platforms.

    • 11 Jan 2017
  • Arle Capital Partners exits Technogym in €100m ABB

    Arle Capital Partners has sold its remaining stake in Technogym, the Italian fitness equipment maker founded by Nerio Alessandri, for €100m, through an accelerated bookbuild that was covered in half an hour.

    • 10 Jan 2017
  • Parques Reunidos the only block but bankers expect more soon

    Equity block trading in Emea reopened on Wednesday evening with a €114m sale of stock in Parques Reunidos, the Spanish leisure park operator that was one of the poorly performing IPOs of last year. But surprisingly, other deals have not appeared.

    • 05 Jan 2017
  • Asia ECM fires starting gun on 2017 with fistful of IPOs

    Asia’s equity capital market got away to a modest start to the year, with multiple share sales planned across the region for January alone. As ever, issuers will try to bring fundraisings as early as possible, even if that means squeezing into a tight window between now and Chinese New Year. John Loh and Jonathan Breen report.

    • 05 Jan 2017
  • BNP is first out of the gate with $317m Shinhan block

    BNP Paribas opened the block market in Asia with a W382.1bn ($316.7m) sell-down in South Korea’s Shinhan Financial Group Co this week.

    • 05 Jan 2017
  • Year's first block trade covered in 20 minutes

    Arle Capital Partners reopened the equity block trade market in Emea for 2017 on Wednesday evening by offering a €114m block of shares in Parques Reunidos, the Spanish leisure park operator.

    • 04 Jan 2017
  • ECM banks work harder for less, stressed investors get picky

    On the surface, equity capital markets are a well-oiled machine, built to run over the rocky ground of unpredictable stockmarkets. Beneath the surface, there is a lot of sweat. Banks are having to staff their teams with less money, but do just as many deals. Investors are under the cosh, too, squeezed by weak performance and the march of passive funds. Jon Hay reports.

    • 01 Jan 2017