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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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Beijing-based Poly Culture Group Corp is seeking shareholder approval for an H-share placement that could raise around HK$1.1bn ($138.8m), according to a filing with the Hong Kong Stock Exchange. -
Life Healthcare, the South African private hospitals group, has completed its R9bn ($673m) rights issue to reduce its debt after completing its acquisition of Alliance Medical Group in the UK, despite political turmoil during the subscription period.
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Investment bankers serving Europe’s financial institutions are already confident 2017 is going to prove a more fruitful year than 2016, when the fees paid by the sector fell to a 14 year low, writes Jon Hay.
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Philippine lender China Banking Corp will offer shares in its Ps15bn ($302m) rights issue at Ps31 apiece, following a sharp rally in its stock price.
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Deutsche Bank has successfully completed its fourth capital raising since the financial crisis, as investors backed CEO John Cryan's turnround plan with a 98.9% take-up rate.
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India Power Corp has launched a two day offer for sale of secondary shares that could be worth Rp13.5bn ($209.6m), according to stock exchange data.
