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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 Informa, the UK publishing and events company, closed 6% higher on Thursday after it launched a fully underwritten £715m rights issue to partially finance its £1.18bn takeover of Penton, the New York-based information services and business-to-business publisher, in a transatlantic deal which the company says will expand its reach in the global exhibitions industry.
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Bayer, the German life sciences company, has clinched an agreement with the board of Monsanto to buy the US company for an enterprise value of $66bn, to be financed with one of the largest rights issues in history. -
Shares in Air Liquide, the French supplier of industrial and healthcare gases, closed 4.8% higher on Tuesday after it announced the full terms for its €3.3bn rights issue, to refinance a loan used to buy Airgas, a US competitor, in May.
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Shares in Hamborner Reit, the German real estate investment trust, fell by as much as 8.3% on Tuesday morning after the company said it would try to raise up to €166.5m, though a seven-for-two rights issue to finance the acquisition of new properties.
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Frasers Hospitality Real Estate Investment Trust has launched a rights issue to raise up to S$266m ($195.1m), according to a filing with the Singapore Exchange.
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Two UK property companies have launched equity raises to finance growth in the last week, despite fears of a downturn in the sector following the UK’s Brexit vote.
