ABBs/Block Trades - All Articles

  • Bouygues has it both ways with BNP-led forward sale of Alstom

    BNP Paribas showed that structural creativity can achieve results in equity capital markets with a €462m block trade in Alstom stock on Tuesday evening. The bank used a forward sale structure to allow Bouygues to financially sell a 4.85% stake in Alstom now, but legally retain the shares until the end of next month so it can vote in favour of an acquisition.

    • 30 Sep 2020
  • Crédit Agricole sells last of its stake in Banque Saudi Fransi

    Crédit Agricole has sold a 4% share stake in Banque Saudi Fransi (BSF) to two unnamed investors for around €330m, ending an association which dates back to 1977.

    • 28 Sep 2020
  • Hipgnosis Songs Fund raises £190m for acquisitions

    Hipgnosis Songs Fund, the London-listed investment trust focused on music royalties, has concluded its latest share sale, raising £190m, less than its £250m original target.

    • 25 Sep 2020
  • Covid spikes to force equity raisers to come back for more

    Equity capital markets investors are likely to face a stream of companies asking them for fresh capital to get them through the second wave of the Covid-19 pandemic, as cases spike again in continental Europe and the UK, writes Sam Kerr. Some will be asking for the second time — or very late.

    • 24 Sep 2020
  • Mail.ru raises $600m of growth capital

    The string of Russian deals in European equity capital markets recently has continued with a $600m sale of new shares and convertible bonds by Mail.ru Group, one of the country’s largest internet companies.

    • 24 Sep 2020
  • Diploma wins strong support for £194m M&A equity raising

    Diploma, the UK maker of seals, wiring and healthcare equipment, got solid support from its shareholders and new investors as it raised £194m of equity on Wednesday to complete the acquisition of a US cable distributor.

    • 24 Sep 2020
  • Hipgnosis Songs Fund back for more with £250m share sale

    Hipgnosis Songs Fund, the London-listed investment trust focused on music royalties, has returned to the equity capital markets with a new £250m share sale after rapidly deploying the proceeds of its last capital raising in July.

    • 21 Sep 2020
  • Blackstone offloads Rp19bn Essel Propack block

    US private equity giant Blackstone has sold a chunk of shares in Essel Propack, a tube-packaging and manufacturing company, for Rp18.6bn ($253.7m).

    • 21 Sep 2020
  • Essentra raises £100m to fund US M&A

    Essentra, the UK maker of plastic and fibre components, has sold £100m of new stock to finance its acquisition of 3C! Packaging in the US, via an accelerated bookbuild.

    • 18 Sep 2020
  • Gold bulls drive demand for fifth Polymetal block of 2020

    Alexander Nesis, the Russian billionaire who is the largest shareholder in gold miner Polymetal, sold a 4% stake in the company on Thursday - the fifth trade in the name this year.

    • 18 Sep 2020
  • US election fears drive ECM deal rush

    It has already been another busy week for European block trades with several accelerated deals priced on Tuesday evening. Bankers say they expect the rush to continue sellers look to shift as much paper as possible before November's US election.

    • 16 Sep 2020
  • Ganfeng Lithium pockets HK$1.5bn in fresh equity

    Ganfeng Lithium, the world’s largest producer of lithium metals, has raised HK$1.46bn ($187.8m) from the sale of primary shares.

    • 16 Sep 2020
  • Adnoc Distribution increases liquidity with $1bn club deal

    Abu Dhabi National Oil Co sold $1bn worth of shares in Adnoc Distribution, its listed chain of petrol stations and shops, through an institutional placement on Monday night, the largest ever block trade by a listed company from the Gulf Cooperation Council area.

    • 15 Sep 2020
  • Evergrande New Energy brings in big names with $516m top-up

    China Evergrande New Energy Vehicle Group raised HK$4bn ($516.1m) on Monday from a top-up placement that won the backing of heavyweight names in the technology industry.

    • 15 Sep 2020
  • German billionaire Thiele sells €1bn stake in Knorr-Bremse

    Heinz-Hermann Thiele, the German billionaire, has raised €1bn through a share sale in break manufacturer Knorr-Bremse, the second time he has sold shares in the company since it floated in 2018, raising questions about why he would return to sell so soon.

    • 11 Sep 2020
  • Apollo places first Verallia block

    Apollo Global Management has completed the first selldown of shares in Verallia, the French glass bottle maker, since its €1bn flotation in Paris in October last year.

    • 11 Sep 2020
  • Saga launches multi-stage recap

    London-listed cruise operator and retirement services provider Saga has completed the first leg of a £150m recapitalisation led by Sir Roger De Haan, the son of its founder.

    • 10 Sep 2020
  • Kojamo trades up after €282m selldown

    Two of the largest pension insurers in Finland have offloaded €283m of stock in Kojamo, a housing rental company in the country, tapping into yield driven demand for residential property companies during the pandemic.

    • 10 Sep 2020
  • Russian ECM momentum continues with $400m Polymetal block

    Equity capital markets investors had a chance to buy Russian risk again on Tuesday evening, as Otkritie Bank sold a Rb30.4bn ($400m) stake in gold miner Polymetal.

    • 09 Sep 2020
  • Nordic Semiconductor completes $125m capital raising

    Nordic Semiconductor, the Norwegian maker of semiconductors, has completed an Nkr1.1bn ($125m) growth capital raising to fund M&A opportunities and an acceleration of its growth strategy.

    • 09 Sep 2020
  • Congestion fears as ECM rush shows no sign of stopping despite $6bn week

    EMEA equity capital markets started September with a flurry as banks rushed to print deals in the first week of the traditionally busy autumn issuance window. There is far more to come though and investors are concerned that some deals will struggle to find the attention they warrant.

    • 07 Sep 2020
  • Vonovia prices €1bn cap raise despite Nasdaq selloff

    German real estate company Vonovia priced a €1bn accelerated capital raise on Thursday to take advantage of possible growth opportunities arising from the Covid-19 pandemic. The deal was covered quickly and attracted enough demand to cover the transaction several times but execution was made complicated by a sell-off in US tech stocks on Thursday evening.

    • 04 Sep 2020
  • Ryanair CEO impresses in €400m Covid-19 raise

    Ryanair completed a non-pre-emptive share placing on Thursday evening to strengthen its balance sheet to withstand the next phase of the Covid-19 pandemic and to take advantage of growth opportunities. Despite analysts not thinking the company needed extra capital, sources said the company's CEO Michael O'Leary made a compelling case to investors for the need to boost its balance sheet.

    • 04 Sep 2020
  • Golden issuance window could be a phoney war

    September began with a bang for equity issuance, capped off on Wednesday by a mammoth €2.7bn share sale from Siemens Healthineers. However, the rush of deals is not just being driven by optimism. Bankers fear darker days returning.

    • 03 Sep 2020
  • EM equity deals set for year-end revival

    Equity bankers and investors are preparing for a wave of emerging market equity issuance before the end of 2020, propelling hopes that the asset class will end the year on a high after being left behind so far this year.

    • 03 Sep 2020
  • Xinyi Solar, Venus Medtech succeed in HK sales

    Solar glass manufacturer Xinyi Solar Holdings raised HK$2.7bn ($343.5m) on Wednesday, after boosting the size of a primary share sale.

    • 03 Sep 2020
  • Record Healthineers block leads equity deal rush

    Siemens Healthineers, the German healthcare tech company, has sold €2.73bn of new stock in the largest block trade 2020 has seen so far to partly finance its $16.4bn acquisition of US cancer care solutions firm Varian. The consensus among ECM bankers is that it will be vital to execute transactions during the next few weeks, before a tempestuous US election and possible rises in Covid-19 cases spoil the party, write Sam Kerr and Aidan Gregory.

    • 03 Sep 2020
  • Detsky Mir block flies as Russians urged to sell stakes before US vote

    Equity capital markets investors welcomed the return of Russian deals on Tuesday night as two large shareholders exited Detsky Mir, the children’s retailer. Bankers expect more deals to come and are urging sellers, if possible, to come to market early to avoid running close to the US presidential election in November.

    • 02 Sep 2020
  • WuXi Biologics block fetches HK$6.1bn

    WuXi Biologics Holdings has raised HK$6.1bn ($787.5m) after selling a block of shares in WuXi Biologics (Cayman), the fourth time it has trimmed its position in the company this year.

    • 02 Sep 2020
  • Dalata raises €94.4m for UK growth

    Ireland's Dalata Hotel Group was in the market with a 19.9% accelerated share placing on Tuesday, a move the company said would give it the firepower to take advantage of growth opportunities stemming from the Covid-19 pandemic.

    • 01 Sep 2020
  • Fosun brews HK$2.5bn Tsingtao share sale

    Fosun International has pocketed HK$2.45bn ($316.3m) after selling a chunk of Tsingtao Brewery's stock in a block trade, according to a source familiar with the matter.

    • 01 Sep 2020