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International tension has propelled valuations in the sector up, tempting issuers
String of smaller IPOs, convertibles come to market
Third equity-linked deal appears as ECM ramps up
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Ocado, the UK online grocer, has made its first foray into the equity-linked market with a £600m convertible bond due in 2025 to finance investment in its technology platform Ocado Solutions, which produces robotic warehouses for foreign partners. -
Brait, the troubled South African investment company, managed to issue a £150m five year convertible bond on Wednesday, an essential piece of its restructuring plan, which includes a new strategy, a recapitalisation, including a rights issue, to repay debt and the sale of two UK assets.
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Soaring stock markets and looming fear of an economic slowdown are prompting more investors to look at adding convertible bonds to their portfolios.
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Hong Kong-listed Semiconductor Manufacturing International Corp (SMIC) has tapped an existing convertible bond for $232m.
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New York Stock Exchange-listed online gaming company Sea has bagged $1bn from its second tap of the equity-linked market.
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New York Stock Exchange-listed gaming company Sea is bookbuilding for a convertible bond worth at least $1bn.
