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Qualifying shareholders take up 68% as remainder stays with conditional placees
Underwriting left unused after deal is 33% oversubscribed
Shareholder-backed recapitalisation will help reduce debt and prepare assets for sale or listing
Placing and open offer follows recent acquisition of US annuity provider
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Kazakhstan is becoming a prominent feature of equity capital markets, with a number of deals from the country in the market this month. Sources say that they are seeing new interest from investors who have shown little interest in Kazakh risk before now.
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Globalworth Real Estate Investments, the London-listed real estate investment trust focused on commercial properties in Romania and Poland, is preparing to raise up to €276.45m of fresh equity to finance its bulging pipeline of acquisitions.
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Hipgnosis Songs Fund Ltd, the London-listed fund that invests in music catalogues, has launched its £300m share sale to finance the acquisition of more music intellectual property rights.
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Singapore-listed Mapletree Commercial Trust is planning to raise S$874.8m ($632.9m) from the sale of new equity to part-fund a local acquisition.
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Axis Bank is looking to raise Rp100bn ($1.4bn) from a primary share sale to boost its capital adequacy ratio, according to sources close to the deal.
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Bajaj Finance’s share price surged on Wednesday after the Indian non-bank lender’s board of directors approved a potential billion-dollar fundraising.