ABBs/Block Trades - All Articles

  • UBS bucks coronavirus fears with 'specific' block trades

    Swiss bank UBS priced two block trades in companies on Thursday night, despite wider market concern over the spread of a deadly strain of coronavirus.

    • 31 Jan 2020
  • DBV Technologies raises $153m for product R&D

    DBV Technologies, the French biopharmaceuticals company that specialises in treating allergies, has successfully completed a $153m growth capital raise, despite market volatility earlier in the week owing to fears over the spread of corona virus in Asia.

    • 30 Jan 2020
  • Coronavirus outbreak shutters ECM after Asia market battering

    European equity capital markets’ buoyant start to the year ground to a halt this week as banks held back from doing deals over concerns about the outbreak of a deadly strain of coronavirus in China and how it may damage investor risk appetite. Losses in Asian markets, which are reopening following the Lunar New Year holiday, have compounded fears that global risk sentiment may be turning.

    • 30 Jan 2020
  • AMS to place Sfr134m of treasury shares ahead of rights offer

    Austrian sensor maker AMS said on Tuesday that it intended to sell all its treasury shares, ahead of its looming €1.64bn rights issue to finance its takeover of Osram Licht, the German lighting manufacturer.

    • 28 Jan 2020
  • Equity markets healthy despite pandemic threat

    Equity capital markets bankers are hoping to get back to work soon after a pause in issuance on Monday because of secondary market fears over the spread of the coronavirus.

    • 28 Jan 2020
  • Emirates NBD offloads £27m NMC Health stock to settle shareholder loan

    Dubai’s Emirates NBD Bank has sold a small stake in NMC Health, the beleaguered UAE private healthcare company, to close out a loan owed by Infinite Investment, a vehicle for two of the company’s controlling shareholders.

    • 24 Jan 2020
  • Equity market debates whether new block model is art or atrocity

    A trade in Orpéa that mixed an auctioned block trade with a wall-crossing process left equity capital markets players bristling this week. But while some bankers disliked the method of bank selection, others told Sam Kerr and Aidan Gregory that the process worked for the issuer and investors.

    • 22 Jan 2020
  • Huge ECM demand propels Europe’s tech unicorns

    Trades in Prosus, the Amsterdam-listed technology holding company, and UAE payments company Network International flew out of the gates on Tuesday night, and market sources say Europe is finally becoming more of a destination for tech deals.

    • 22 Jan 2020
  • DIC Asset builds tight book for €110m block

    DIC Asset, the German commercial real estate company, has raised €110m to finance the acquisition of new properties, following a capital increase supported by Deutsche Immobilien Chancen and RAG Stiftung.

    • 21 Jan 2020
  • Resolute Mining refis bridge loan with £103m block trade

    Resolute Mining, the Australian gold miner, has raised A$196m (£103m) via a transcontinental capital increase to repay a bridge loan used to fund its acquisition of Toro Gold in August last year.

    • 21 Jan 2020
  • Co-founder sells SLM Solutions stock

    A major shareholder in SLM Solutions Group, the German maker of 3D printers, sold a chunk of his stake in the company, via an accelerated bookbuild on Thursday.

    • 17 Jan 2020
  • Updated: Hong Kong placements flood market in pre-CNY rush

    A flurry of accelerated bookbuilds hit the Hong Kong market on Thursday night as issuers and investors squeeze through the last window for fundraising before companies go into earnings blackout and the Chinese New Year holidays.

    • 17 Jan 2020
  • US buyers rush Europe ECM on bargain hunt

    US investors are behind the European equity capital markets’ flying start to the year. They are swarming deals, having been driven out of their home market by sky-high valuations and a volatile president fighting for political survival, reports Sam Kerr.

    • 16 Jan 2020
  • Investors pile into deals in strong week for ECM

    EMEA equity capital markets were on fire on Wednesday night, when almost €3bn of paper was priced, in a number of deals, strengthening the impression that January is turning out to be a productive month for EMEA ECM.

    • 16 Jan 2020
  • Turkish ECM reopens at last with $145m Akbank trade

    Turkey's primary equity capital markets opened for the first time since 2018 on Wednesday as an undisclosed group of shareholders set out to sell 1.9% of Akbank.

    • 15 Jan 2020
  • Large US fund picks up big profit from NMC block

    Capital Group, one of the largest asset managers in the US, bought 13.45m shares in NMC Health on January 8, according to a disclosure on the London Stock Exchange. They were worth about £160m. That was the day after a £375m block trade by Saeed Al Qebaisi and Khaleefa Al Muhairi, two of the three controlling shareholders in the UAE health company, which faced criticism from short-seller Muddy Waters of its balance sheet and financial statements in December.

    • 15 Jan 2020
  • Bullish investors boost European block trades

    Strong investor demand has led to a positive start for Europe’s equity capital markets with several large block trades attracting big orders, leading to attractive terms for sellers.

    • 15 Jan 2020
  • Carlyle sells China Literature stake for $196m

    The Carlyle Group, a US-based multinational private equity firm, offloaded its position in China Literature this week through a HK$1.53bn ($196m) overnight block trade.

    • 15 Jan 2020
  • Investors love €633m block in Evonik

    RAG-Stiftung, the foundation charged with financing cleaning up the legacy of coal mining, has placed a block of shares in Evonik, the German speciality chemical manufacturer, at a tight concession after increasing the deal to €632.5m. The trade is another example of growing levels of demand for EMEA block trades.

    • 14 Jan 2020
  • Banks line up more blocks after rapid start to 2020

    Equity capital markets bankers are lining up further accelerated equity sales after a series of successful block trades last week. They are hoping that market optimism persists to allow them to print trades before corporate blackouts prevent insider sales.

    • 13 Jan 2020
  • Investors pour into Nexi in first trade since IPO

    Equity capital markets investors jumped at the chance to buy shares in Nexi, the Italian payments company, as it returned with its first transaction since IPO.

    • 10 Jan 2020
  • First Watches of Switzerland block prices well

    US private equity group Apollo Global Management has completed the first selldown of stock in Watches of Switzerland, the UK luxury watches retailer, since its flotation on the London Stock Exchange in May last year.

    • 10 Jan 2020
  • Sunac China and WuXi Bio tap Hong Kong for $1.8bn

    Mainland-based property developer Sunac China Holdings has raised HK$8bn ($1.03bn) after issuing a chunk of new shares.

    • 10 Jan 2020
  • NMC Health insiders sell £375m of stock

    Two major insiders offloaded £375m of stock in NMC Health, the troubled UAE-based private healthcare company to cover debts on Tuesday. The share sale, which was priced at a 19.7% discount to close, came weeks after a short selling attack on NMC Health by US activist hedge fund Muddy Waters, which caused the company to lose more than half of its market value.

    • 08 Jan 2020
  • ‘Almost perfect’ Orsted trade reopens EMEA ECM

    A Dkr6.4bn (€856m) block of shares in Danish renewable energy firm Ørsted reopened the EMEA ECM market on Tuesday evening and attracted huge investor demand for the stock — including from ESG investors.

    • 08 Jan 2020
  • Equity investors hope for peace after Iran strikes US bases

    Equity investors were hopeful that the tension between the US and Iran will lessen after the latter responded to the former's assassination of its military commander Qasem Soleimani with a limited tactical strike against US bases in the Middle East.

    • 08 Jan 2020
  • Banks line up UK deals as investor sentiment strengthens

    Equity capital markets bankers are looking to bring several UK transactions to market over the next month and are hoping that investor risk appetite, healthy at the end of 2019, will allow them to get off to a quick start to the new year.

    • 07 Jan 2020
  • Xinyi Solar block fetches $231m

    A group of shareholders in Xinyi Solar Holdings have bagged HK$1.79bn ($230.7m) after selling a block of shares in the company, according to a source familiar with the matter.

    • 07 Jan 2020
  • Early equity prints to prove tricky in volatile market

    Many investors made their first trades of the new year on Monday selling risk positions. That has thrown into doubt issuers' plans to bring new business to the primary market.

    • 06 Jan 2020
  • Blocks outperform surging equities, bankers line up more

    The end of 2019 was a bumper time for equity block trades in EMEA. After many of these accelerated trades generated strong, market-beating returns for investors, banks are hoping funds will have goodwill towards the market, supporting a strong start to 2020.

    • 02 Jan 2020