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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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Malaysia’s RHB Bank has hired Ankur Khandelwal from Barclays to head its Asia ECM unit, according to sources close to the matter. -
Shares in RWS Holdings, the UK translation company, closed 14.6% lower on Wednesday after it raised £185m, 19% of its share capital, through a daytime capital increase to partly finance its $320m acquisition of Moravia, the Czech provider of technology-enabled translation and localisation services.
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Hapag-Lloyd, the German container shipping company, has raised €352m to reduce its debt after its one-for-14 rights issue won a high take-up from its shareholders.
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Equiniti, the UK share registrar and payments services company, has concluded its £122.2m rights issue, intended to partly finance its entry into the US market.
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India’s Piramal Enterprises is in the market with an unusual sale of mandatory convertible bonds through a qualified institutional placement, part of a fundraising drive to that could fetch up to Rp70bn ($1.1bn).
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Philippines-listed DoubleDragon Properties Corp is gearing up to launch a re-IPO worth Ps7.5bn ($145.6m), aiming the deal firmly at international investors.
