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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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The swathe of rights issues set to form a big part of Emea equity capital markets activity this side of the summer has moved forward this week, with the conclusion of Dubai Parks and Resorts’ deal and the launch of SSAB’s prospectus.
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The Singapore Exchange’s offer for the Baltic Exchange is the latest in a long line of moves by the Asian bourse to search for new ways to grow. But buying the Baltic Exchange won't be a solution, and the SGX is better off looking for opportunities closer to home. -
Central Bank of India plans to seek shareholder approval for a Rp30bn ($448.7m) equity fundraising slated for the 2016/2017 financial year.
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Banco Popular Español is using an unusual syndicate structure for its rights issue after tense discussions over the deal’s terms with some of its closest relationship banks.
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Bayer and Monsanto are circling each other as they both seek acceptable terms for a merger that would create a world leader in crop science. For the equity capital markets, the deal holds out the possibility of one of the world’s largest ever rights issues.
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Thailand’s Berli Jucker is planning to raise up to Bt214bn ($6.0bn) by issuing fresh equity and selling new bonds, in a bid to pay off debt used for its acquisition of hypermarket operator Big C Supercenter, according to a statement on Thursday.
