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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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CDL Hospitality Trusts, a Singaporean real estate investment trust focusing on the hospitality sector, has kicked off a S$255.4m ($184m) rights issue to reduce leverage after announcing the purchase of the Pullman Hotel in Munich for €98.9m. -
Carmila, the retail property owner and manager owned by Carrefour, launched its capital increase today, seeking €503m of new capital, after its merger this month with Cardety.
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Malaysian property development company S P Setia is preparing to raise MR3.6bn ($839m) of new equity to finance its takeover of domestic rival I&P Group.
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India’s Federal Bank is set to raise up to Rp25bn ($386.9m) after tapping the equity market via a qualified institutional placement.
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Atlas Mara, the London-listed company co-founded by Bob Diamond that invests in African financial services, announced a $200m equity capital raising on Wednesday, most of which will be taken up by Fairfax Africa Holdings Corp.
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Arabtec Holding, the United Arab Emirates’ largest listed construction firm, said on Tuesday its rights issue was fully subscribed, raising Dh1.5bn ($408m) for a recapitalisation.
