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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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The board of India’s Housing Development Finance Corp has given it the green light to sell new shares to the tune of Rp130bn ($2bn), part of which will flow through to its banking arm. -
China Oceanwide International Financial has mooted a HK$18.3bn ($2.3bn) rights issue to be used mostly for its securities business.
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The rump auction following the rights issue of Banca Carige, the Genoese bank, was closed early after two days on Monday, but participants in the deal have to wait till Thursday to find out how many of the buyers will subscribe for the up to €167m of shares.
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Savannah Petroleum, the UK oil and gas company focusing on African exploration, has secured a partnership with ASMA Capital Partners, a Bahraini fund manager which invests on behalf of the Islamic Development Bank, as part of its equity capital raising, which is set to be priced today.
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Mainland property developer Sunac China Holdings has raised HK$7.8bn ($1bn) from an upsized overnight top-up placement.
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Shareholders have piled into China Power International Development’s HK$4.5bn ($573m) rights issue, putting in orders for double the amount of available stock.
