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Follow-ons and Rights issues

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  • Creval, the Italian bank, has kicked off its fully underwritten €699m rights issue, having announced the price range late on Wednesday evening.
  • India's Idea Cellular opened books for a qualified institutional placement of up to Rp35bn ($547.4m) after getting final approval for the deal from its board of directors on Wednesday.
  • Philippine food and beverage conglomerate San Miguel Pure Foods Co is planning to tap the local equity capital markets for up to $1.5bn, according to an exchange filing on Wednesday.
  • Indian state-owned Canara Bank is looking to raise up to Rp45bn in fresh capital. It increased the target by Rp10bn this week and plans to use methods including a qualified institutional placement and rights issue.
  • Philippines-based Integrated Micro-Electronics (IMI) is planning to tap its shareholders for Ps5bn ($97.3m) of fresh capital. The company has priced its rights issue at an attractive discount to win them over.
  • JinkoSolar Holding Co set out plans to raise $100m on Wednesday, after opening the order book for a follow-on offering of American Depository Shares alongside a private placement of the shares, according to a deal term sheet.