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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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UniCredit’s appointment of a new CEO on Thursday raises the prospect that a rights issue for the bank could be the centrepiece of an equity capital market in the autumn that is likely to be at best subdued, after the UK’s shock vote last week to leave the European Union.
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Shares in BW Offshore, the Norwegian floating oil storage vessel owner and operator, have fallen 69% after its shares began trading ex-rights on Wednesday, ahead of its $100m rights issue.
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Electricité de France has named 16 banks to underwrite its €4bn rights issue, of which €3bn will be bought by the French government.
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Amid the chaos in global markets on June 24, the IPO of Veneto Banca reached its expected conclusion: the book closed almost empty and the listing was cancelled, leaving Fondo Atlante, the Italian bank rescue fund, to provide the €1bn of capital Veneto had to raise. -
Electricité de France has named four banks to lead its €4bn rights issue, of which €3bn will be bought by the French government.
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Pacific Basin Shipping has closed its HK$1.2bn ($150.6m) rights issue with a hefty 10x oversubscription, the company said in a filing with the Hong Kong exchange.
