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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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Punjab National Bank has added its name to the list of Indian FIG names seeking new equity, approving a Rp30bn ($470m) fundraising plan. -
A solitary capital increase from Monday was the stand-out trade of a meagre bunch in equity capital markets this week, with the IPO market on pause until September.
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Chinese property developer Cifi Holdings has raised HK$2.4bn ($307.3m) from a top-up share sale and private placement on the back of a surge in its stock price.
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Indonesia’s Bumi Resources has raised Rph35.1tr ($2.6bn) from the sale of rights shares and mandatory convertible bonds, in a bid to shed debt.
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Bank Saint Petersburg, the Russian regional retail bank, has successfully priced a Rb3.2bn ($53m) equity capital increase, through a multi-day bookbuild that finished on Friday.
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Hong Kong-listed China Agri-Products Exchange’s (CAP) rights issue to raise HK$1.3bn ($166.4m) has received "negative feedback" from the city’s bourse and could be rejected.
