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Follow-ons and Rights issues

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Italian shipbuilder is expanding capacity on strong defence demand
Deal priced at 1% premium to Monday's close
London continues to benefit from metal price volatility
Booming metal prices could bring more equity deals
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  • Union Bank of the Philippines has set the terms for its planned Ps10bn ($187.6m) rights offering, which is set to go live in early September.
  • Shares in IG Design Group, the UK maker of stationery products and gift packaging, rose 5.7% on Tuesday after the company announced its takeover of Impact Innovations, a US-based supplier of gift wrapping, which it revealed early in the morning alongside a share sale to fund the transaction.
  • RusHydro, the Russian hydroelectricity firm, has filed for a Rb13bn capital raising in order to fund the construction of overhead power lines.
  • Sapura Energy is looking to raise MR4bn ($976m) for a recapitalisation exercise from a combination of a rights and warrants issue and a sale of preference shares.
  • Future plc, the UK magazine publisher, has raised £105m to finance its acquisition of Purch, the US science and technology magazine publisher, after its three for four rights issue finished 92.2% subscribed on Tuesday.
  • Morgan Stanley’s Alex Abagian has been named as a co-head of Asia Pacific equity capital markets, according to people familiar with the matter.