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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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Shares in Hong Kong International Construction Investment Management Group, the property development and machinery leasing unit of Chinese conglomerate HNA Group, closed 2.3% higher on Tuesday after the company wrapped up its fully underwritten HK$9.2bn ($1.2bn) rights issue. -
Maxis, the Malaysian telecoms company, has raised MR1.6bn ($390m) to cut debt and finance expansion, having priced the capital increase on Monday evening at a 6.1% discount.
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Malaysian telecoms company Maxis, controlled by billionaire Ananda Krishnan, has launched a capital increase of up to MR1.7bn ($403m) to reduce its debt and finance future growth.
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Min Xin Holdings’ rights issue to raise HK$827m ($107m) was severely undersubscribed, forcing its major shareholder to take up the remaining stock.
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Sibanye Gold, one of the largest South African gold mining companies, has raised R13.5bn ($1bn) to refinance its acquisition of Stillwater in the US, after its rights issue was multiple times oversubscribed.
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Wockhardt and Lakshmi Vilas Bank are joining the equity raising bandwagon in India as they hunt for new capital.
