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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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Parag Milk Foods has thrown open books for its Rp7.7bn ($115.7m) IPO in India, after placing a huge chunk of the trade in the hands of 17 anchor investors.
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Rohan Lamba, an executive director in Nomura’s Asia ex-Japan equity capital markets desk in Hong Kong, is leaving at the end of April, said sources close to the situation.
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The Securities and Exchange Commission of Pakistan is seeking comments on its draft Public Offering of Securities Rules 2016 in a bid to tighten regulation on equity and debt issuance.
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Vallourec’s €480m rescue rights issue is heading for a successful conclusion on Friday April 22, bankers working on it said this week.
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ADO Properties, the Berlin housing company, raised €100m on Wednesday night with a 10% capital increase through an accelerated bookbuild, managed by Kempen & Co.
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British American Tobacco subsidiary Bentoel Internasional Investama is set to proceed with an up to Rph14tr ($1.1bn) rights issue, having won the go ahead from shareholders.