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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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China is embarking on a trial programme to woo its homegrown technology giants, publishing guidelines for a China Depository Receipt (CDR) listing in the A-share market. -
Conviviality, the UK alcohol wholesaler that owns Bargain Booze and Wine Rack, plans to call in administrators after a £125m emergency capital increase failed to attract enough demand to keep the company afloat.
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Sanlam, the South African insurer and wealth manager, has raised R5.7bn ($489m) to finance its takeover of Saham Finances, the Middle East and Africa-focused insurance company.
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Galliford Try, the UK construction company, has revealed the terms for the £157m ($221.1m) rights issue which it announced in mid-February to cover the costs of Carillion’s collapse.
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John Laing Group, the UK infrastructure projects company, has closed its £210m ($295.74m) rights issue after the deal attracted substantial interest.
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China Zheshang Bank has raised HK$3.6bn ($464.2m) from a placement of new H-shares, its first issue since listing in Hong Kong two years ago.
