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Follow-ons and Rights issues

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  • Cromwell European Real Estate Investment Trust has cancelled its potential €738.8m listing on the Singapore Exchange due to market conditions, after first trying to get past the finish line with a smaller offering.
  • The Hong Kong Stock Exchange (HKEX) plans to bar issuers from carrying out heavily dilutive equity raisings, as it seeks feedback on a raft of proposals aimed at tightening governance of listed companies.
  • CapitaLand Commercial Trust Management is looking to raise S$1.82bn for its acquisition of Asia Square Tower 2 through a combination of debt and equity.
  • Singapore real estate and business trusts have raised a healthy $2.9bn in equity this year, with market participants seeing no let-up in volumes as investors continue to chase for yield.
  • InterGlobe Aviation has raised Rp37.96bn ($591.5m) from a one-day placement, drawing in a troop of international and domestic hedge funds, as well as long-only investors.
  • Digital China Holdings has bagged HK$1.45bn ($185.5m) from a rights issue that was hugely popular, with books more than 1,600% subscribed.