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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 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.
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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.
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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.
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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.
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Equiniti, the UK provider of payment and administration services, has unveiled the terms for its £122m rights issue, which is intended to partly finance its entry into the US market.
