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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 Amundi, the French asset manager, closed 4% lower on Tuesday after it announced the terms for its €1.4bn rights issue to partly finance its takeover of Pioneer Investments, the asset management division of UniCredit, for €3.5bn.
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Guotai Junan Securities Co said in a filing with the Shanghai Stock Exchange that it has received the green light from the regulator to list in Hong Kong. -
UBS has hired Andrea Casati to fill the role of head of Asia Pacific ECM syndicate, in a move which sees him rejoining the Swiss bank after almost a decade.
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Singapore Exchange has freed companies to issue up to 100% of their equity capital in rights offerings, an increase from 50% previously.
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Shares in Segro, the UK property developer, closed 6% lower on Friday after it announced a £556m rights issue to finance its buyout of Aviva from a joint venture at London’s Heathrow Airport.
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State Bank of India will be returning to ECM after a three year hiatus if it obtains board approval next week for a fundraising exercise.
