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UK company acquires US firm OrthoLite for $770m
Offering price at 30.4% discount to Terp
Company predicts €1.6bn net loss in FY2024 due to write-downs
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Marks & Spencer will turn to its shareholders to fund a £750m joint venture with Ocado Group in a move that would see the company metamorphose into a leading online food retailer.
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Metro Bank has obtained a standby underwrite for a £350m ($464m) equity raise to be completed later this year, even as short sellers circle around the bank. The miscalculation in its risk-weighted assets (RWAs) announced last month, and an expected delay in getting permission for internal models to calculate those weightings, are both damaging for its capital ratios.
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India’s largest telecommunications service provider Vodafone Idea has hired three banks to handle a rights issue that could raise up to Rp250bn ($3.5bn), according to a source close to the deal.
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Philippine-based PH Resorts Group (PHR) has opened bookbuilding for a potential Ps10.4bn ($198.8m) follow-on offering of common shares.
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Earnings growth in Europe appears to be slowing after a number of corporates missed estimates as they reported their latest numbers — increasing the chances that issuers will need to turn to equity markets to raise primary capital.
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Investors have given a rapturous reception for companies raising equity capital to undertake mergers and acquisitions, given the quiet elsewhere in ECM.