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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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China First Capital Group is planning to raise as much as HK$796.2m ($102.7m) from a placement, according to a filing on the Hong Kong Stock Exchange. -
Hong Kong-based investment company Tai United Holdings is planning a HK$3.0bn ($386.8m) rights issue, according to a filing with the stock exchange.
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Melrose, the UK industrial buyouts specialist, completed its jumbo rights issue on Wednesday, raising £1.6bn to partly finance its reverse takeover of Nortek, a US air conditioning systems manufacturer.
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The sun continued to shine on South African equity capital markets this week, despite growing political volatility.
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Motherson Sumi Systems has appointed ICICI Securities, IDFC, IIFL, JM Financial and UBS as the leads on its qualified institutional placement, which is expected to raise $400m-$450m.
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PPC, the largest listed cement producer in South Africa, has set terms for its R4bn ($280m) rights issue after the deal was almost unanimously approved by shareholders at the start of August.
