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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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Equity investors' keen appetite for UK challenger bank stocks was evident this week when Metro Bank was able to raise £278m of fresh capital at no discount to its share price. But investors hoping for more liquidity events are likely to have to wait for secondary sales, writes Aidan Gregory. -
The musical chairs in Hong Kong’s equity capital market hit a crescendo this week, as senior bankers from both bulge brackets and Chinese firms took turns swapping seats. With several positions still left to be filled, the movement is unlikely to stop soon. But all this points to a sustained rise in business, writes John Loh.
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Santander’s €7bn rights issue finished 8.2 times covered, according to a filing with the CNMV, the Spanish regulator.
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After a lull last week when many companies were in closed periods ahead of results, the equity block trades market is more vibrant this week, with several significant trades so far, including a successful capital increase for Metro Bank.
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Beijing Enterprises Clean Energy Group is preparing a HK$1.33bn ($170.3m) open offer to fund development projects and acquisitions of clean energy-related companies.
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Sunac China Holdings has raised HK$4.03bn ($516.2m) from a top-up placement, taking advantage of its recent media focus and skyrocketing share value to bag a deal.
