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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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Rimo International has downsized its long delayed rights issue by almost half to Rph4.1tr ($307.5m), in the latest update to its fundraising. -
Shares in UniCredit, Italy’s largest bank, closed 1.7% lower on Thursday after it unveiled the terms for its fully underwritten €13bn recapitalisation late on Wednesday.
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China-based companies topped the charts for IPOs and follow-on offerings in US Depositary Receipts (DRs) in 2016, accounting for more than half of all issuance in the format.
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Philippine lender BDO Unibank has sealed a rights issue worth Ps60bn ($1.2bn) in the largest ECM transaction in the country in nearly four years.
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Investec Australia Property Fund, the Johannesburg-listed real estate investment trust focused on commercial property in Australia and New Zealand, set terms for its partially underwritten R1.5bn ($111m) rights issue on Tuesday. Investors marked the shares up 2.3% on the day.
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Shares in TLG Immobilien, the German real estate company, fell 1.6% on Tuesday morning after it completed a 10% capital increase on Monday night to finance the acquisition of more retail and office properties in Germany.
