ABBs/Block Trades - All Articles

  • New lockdowns no hindrance for ECM supply

    New national lockdowns in France and Germany smashed secondary equity markets this week, but ECM bankers are confident that as the shock subsides there will still be deals to do.

    • 30 Oct 2020
  • Groupe PSA trims Faurecia stake on torrid day for stocks

    Groupe Peugeot Société Anonyme, the French auto manufacturer, chose a tough day to launch a €308m sale of stock in car parts maker Faurecia. The sale is a key condition of the company's merger with Fiat Chrysler.

    • 29 Oct 2020
  • Aeroflot lands equity raise with strong government support

    Russian airline Aeroflot completed its Rb80bn ($1.05bn) capital raise on Monday, aimed at repairing its balance sheet by repaying debt, with the Russian state increasing its stake in the carrier.

    • 27 Oct 2020
  • Investors embrace Mail.Ru block despite bad markets

    Sands Capital Management, the US investment manager, sold a 1.6% stake in Russian internet services company Mail.Ru on Monday despite a torrid evening for international stock markets.

    • 27 Oct 2020
  • PrimaryBid completes $50m private raise amid retail equity surge

    PrimaryBid, a company that provides retail investors with a means to take part in primary equity capital raises, completed a $50m Series B financing round on Monday to expand its international business.

    • 26 Oct 2020
  • London landlord Shaftesbury taps investors for £300m

    Shaftesbury, the UK real estate investment trust that owns swathes of London’s West End, is tapping its shareholders for almost £300m ($392m) amid a severe downturn in the theatre district because of the Covid-19 pandemic.

    • 22 Oct 2020
  • Scatec Solar borrows shares for larger equity raise

    Scatec Solar, the Norwegian solar energy company, raised Nkr4.75bn ($512m) through an equity placing on Tuesday night. The sale was for 15% of the company’s share capital — 5% more than it was allowed to issue through a non-preemptive placing. It made up the balance by borrowing shares from its largest shareholder.

    • 21 Oct 2020
  • Permira sells down TeamViewer after good run for the stock

    Investors crowded into a €929.3m trade in German remote access software company TeamViewer, as Permira returned to the market to sell down more shares in the company.

    • 20 Oct 2020
  • Dufry raises Sfr820m with backing from Alibaba, Advent

    Swiss duty free operator Dufry has finished its Sfr820m at-market rights issue, which has enabled Advent International and Chinese e-commerce firm to take large strategic stakes in the company.

    • 20 Oct 2020
  • Equity volatility returns as investors position for US election

    Equity markets swung violently this week as investors reacted to polling and projections in the US election. With over two weeks left before the vote on November 3, equity bankers and investors are predicting a choppy time ahead which might make things trickier for capital markets deals.

    • 16 Oct 2020
  • Urban Logistics Reit finishes £92m growth capital raise

    Urban Logistics Reit, the London-listed real estate investment trust, has finished the final leg of a £92m share sale, tapping into heightened investor demand for exposure to niche areas of the real estate market during the pandemic.

    • 15 Oct 2020
  • Evergrande slashes $1bn top-up for cautious buyers

    China Evergrande Group this week tapped the equity capital markets for HK$4.3bn ($554.9m), making its first primary share sale in five years. But the fundraising did not go as planned, with the embattled property developer nearly halving its initial target after investors called for a smaller deal. Jonathan Breen reports.

    • 15 Oct 2020
  • Synairgen raises £80m after Covid-19 treatment shows progress

    Synairgen, the UK biopharmaceuticals company, has raised £80m from investors to fund the next stage of clinical trials for a treatment designed to alleviate the respiratory symptoms of Covid-19.

    • 15 Oct 2020
  • Dermapharm founder trims stake with €248m sell-down

    Wilhelm Beier, the German billionaire founder of Dermapharm Holding, has trimmed his stake in the pharmaceuticals company.

    • 14 Oct 2020
  • Covestro prices capital increase for acquisition finance

    Covestro, the German chemicals company, priced a €447m capital increase on Tuesday night to partially refinance an acquisition. Investors supported the deal in large numbers, despite a rough night for secondary markets and an incredibly tight discount.

    • 14 Oct 2020
  • China Evergrande cuts top-up to $555m, stock dives

    China Evergrande Group’s stock price plummeted on Wednesday after the issuer slashed an overnight share sale to nearly half its initial target, raising HK$4.3bn ($554.9m).

    • 14 Oct 2020
  • China Evergrande launches $1bn top-up

    China Evergrande Group, a property developer, hit investors with a jumbo top-up placement on Tuesday, eyeing proceeds of up to HK$8.4bn ($1.1bn), according to a term sheet seen by GlobalCapital Asia.

    • 13 Oct 2020
  • Russia subscribes for over half of $1bn Aeroflot recap

    Aeroflot, the flag carrier of Russia, has finished the first leg of a jumbo recapitalisation backed by the Russian government, amid turmoil in the airline industry due to the Covid-19 global pandemic.

    • 12 Oct 2020
  • Aquila European Renewables Income Fund raises €127m from investors

    Aquila European Renewables Income Fund, the London-listed investment trust focused on renewable energy assets, has concluded a €127.5m growth capital raising to finance its pipeline of investment opportunities.

    • 12 Oct 2020
  • Investors flock to block of SoftwareOne

    A Sfr111m ($122m) trade in shares of SoftwareOne, a Swiss software company, on Thursday night earned a strong reception from investors, showing that there is still strong demand for growth-orientated tech stocks, despite deal execution in equity capital markets growing more difficult.

    • 09 Oct 2020
  • PE firms sell €1.3bn of Nexi stock after SIA merger deal

    Private equity firms Bain Capital, Advent International and Clessidra have completed a huge sell-down of stock in Nexi, days after the Italian payments company unveiled plans for a €4.6bn merger with Sia, a close rival.

    • 07 Oct 2020
  • Kering sells Puma stock to strengthen balance sheet

    Kering, the French luxury goods giant, has offloaded a €687m chunk of its stake in German sportswear company Puma, via an accelerated bookbuild.

    • 06 Oct 2020
  • Doosan Fuel Cell shares dive on smaller $171m block

    The share price of Doosan Fuel Cell Co, a subsidiary of South Korean conglomerate Doosan Group, nosedived on Tuesday after affiliates of the parent raised a smaller-than-expected W198.6bn ($171.1m) from a block trade.

    • 06 Oct 2020
  • Ugly US election looms large over ECM

    Global equity capital markets bankers anticipate a disorderly US election in November. They fear that a disputed contest between president Donald Trump and former vice-president Joe Biden could lead to sustained market volatility which would severely impact ECM issuance.

    • 05 Oct 2020
  • Saga raises £150m from shareholders to stay afloat

    Saga, the cruise line operator and provider of retirement services to the elderly, has finished a multi-leg £150m ($193m) recapitalisation intended to repair its balance sheet following a collapse in bookings owing to the Covid-19 pandemic.

    • 05 Oct 2020
  • Doosan Fuel shareholder targets $353m from block

    One of Doosan Fuel Cell Co’s major shareholders is offloading its stake in the South Korean eco-friendly cell maker for up to $353m-equivalent.

    • 05 Oct 2020