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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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Casting aside a steady erosion in equity capital market volumes, south-east Asia (SEA) is again poised to have its time in the sun this year. Eye catching trades from the likes of Lotte and Singtel are set to add substantial volumes in 2017, even as competition heats up for mandates all across the region. John Loh writes. -
Malaysia-listed Iskandar Waterfront Holdings (IWH) is merging with sister firm Iskandar Waterfront City (IWC) in a MR761.8m ($170.8m) transaction to be funded by debt and equity.
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Singapore-listed Ascott Residence Trust launched a fully underwritten renounceable rights issue this week, as OUE Commercial Real Estate Investment Trust raised funds via an overnight share sale.
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The French government has sold the rights to new Electricité de France shares it does not want to take up as part of the company’s €4bn rights issue, though an accelerated bookbuild launched on Tuesday night.
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Singapore-listed Ascott Residence Trust has kicked off a fully underwritten renounceable rights issue to raise S$442.7m ($313.7m), as it seeks to buy its first property in Frankfurt.
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Deutsche Bank confirmed over the weekend that it was preparing an €8bn rights issue, alongside a fresh strategic overhaul that includes a partial IPO of its asset management division and the reintegration of Postbank.
