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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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Yes Bank, India’s fifth largest private sector bank, has found good demand for its $1bn equity capital raising on a round of investor pre-marketing meetings. -
A pair of Chinese firms are preparing potential multi-billion-dollar deals. Postal Savings Bank of China Co is seeking approval for a Hong Kong IPO that could raise up to $8bn, according to sources familiar with the matter, while China Resources Beer (Holdings) Co is aiming to net HK$9.5bn ($1.2bn) from a rights issue in the next few weeks.
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Singapore real estate investment trust Mapletree Commercial Trust has hired DBS, Goldman Sachs and HSBC to help it raise equity funding to back a S$1.78bn ($1.33bn) acquisition.
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China Resources Beer (Holdings) Co is preparing a jumbo rights issue, aiming for a size of HK$9.5bn ($1.2bn).
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Fagron, the Belgian-Dutch pharmaceutical compounding company, completed its recapitalisation on Tuesday as banks sold the €5m rump of its rights issue in a swift accelerated placement.
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Two South African rights issues are under way - one from a position of strength and one to deal with weakness - as the Johannesburg Stock Exchange rallies after the shock of Brexit last Friday.
