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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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SoLocal Group, the French marketing services provider, has completed its €400m rights issue, which involved a debt-for-equity swap. -
Shares in Cobham, the troubled UK aerospace and marine technology company, closed 13% higher on Thursday after the company unveiled its 2016 results and a turnround plan involving a second £500m rights issue in nine months, to strengthen its balance sheet.
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Laird, a UK supplier of mobile phone parts to Apple and Samsung, launched a £184m ($225.55m) rights issue after it released its full year 2016 results on Tuesday.
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RPC Group, the UK maker of rigid plastic packaging, has secured a 96% take-up on the £552m rights issue it launched to reduce its leverage after making seven takeovers since September.
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UniCredit, the largest bank in Italy, has formally finished its €13bn rights issue after selling the unexercised rights on the market for €15m.
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Metals producer Hindalco Industries, a unit of Indian conglomerate Aditya Birla Group, has begun seeking interest for a Rp50bn ($749.5m) qualified institutional placement.
