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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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Pacific Basin Shipping has proposed a rights issue to raise HK$1.2bn ($150.6m) as it sees the dry bulk shipping market bouncing back from one of its most difficult periods in over 30 years. -
Primary Health Properties, the UK real estate investment trust that lets property to doctors’ surgeries and health centres, completed on Wednesday (April 13) its £120m capital increase, which grew to £150m.
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Aroundtown Property Holdings, the Paris- and Frankfurt-listed company that invests in German property turnrounds, has extended the deadline on an incentivised conversion offer for its €450m pre-IPO convertible until Thursday evening.
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Highfields Capital Management, the US asset manager and largest shareholder in Delta Lloyd that fought hard to block the Dutch insurance company’s rights issue, nevertheless subscribed to its rights in the offering.
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Vallourec, the French tube maker that has been hit by falling capex in the oil and gas industries, began separate trading of its shares and rights on Monday, after the launch of its €480m eight-for-five rights issue last Friday.
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Despite the sturm und drang that surrounded Delta Lloyd’s rights issue, with vocal opposition from Highfields Capital Management and other top shareholders, the Dutch insurance company’s deal was completed smoothly.
