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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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New Silkroad Culturaltainment plans to raise HK$1.5bn ($193.3m) from a proposed open offer of shares, according to a filing with the Hong Kong Stock Exchange. -
Keppel DC Reit Management has kicked open a rights issue worth up to S$279.5m ($201.4m), while Zhuguang Holdings Group Co has launched a HK$1.4bn ($180.4m) offering — both to fund acquisitions.
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A flurry of follow-on equity sales this week, mostly block trades, showed that investors still want stock, sometimes at tight discounts, even while three IPOs had to be abandoned.
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Russia gave more details on Wednesday of its plans to privatise stakes in state assets, including Rosneft, VTB Bank and shipping company Sovcomflot.
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Two European IPOs have failed this week, as investor sentiment has been shaken by the poor trading of Nets and Innogy. The reticence has not stopped a UK publisher from enjoying encouraging ex-rights trading.
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Singapore-listed Frasers Hospitality Real Estate Investment Trust has raised S$266m ($192.6m) from an oversubscribed rights issue.
