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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 first block trade in Worldpay since its £2.5bn IPO in October took place on Wednesday evening, as Advent and Bain, its private equity owners, sold a 13.75% stake for £740m. The sale went very well, as it was soon increased and priced at a tight discount. -
Bank of Cyprus will aim to complete its move to the London Stock Exchange as early as possible in the second half of 2016 — though whether any equity capital will be issued or sold as part of the new listing is not yet clear.
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Delta Lloyd will announce on Thursday evening or Friday morning the take-up for its controversial rights issue, which was cut in size from €1bn to €650m after public protests from some investors. The exercise period ended at 2pm CET on Thursday.
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OUE Hospitality Trust’s S$238.6m ($175.7m) rights issue has been a big success, with shareholders signing up for 1.4x the shares on offer, according to a company filing.
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Equity capital markets teams at banks will need a very good second quarter to make up for the weak first one, which left volume more than 50% down on last year’s run rate in both Emea and the Americas.
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China Renaissance has named Andrew MacInnes as CEO of its US arm, as the boutique investment bank steps up its overseas ambitions and grows its equity distribution capabilities stateside.
