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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 Indian government has set its divestment target for the next financial year beginning April at Rp360bn ($5.3bn), cutting its goal for share sales to nearly half of this year’s objective. -
The board of Sponda, the Finnish property investment firm, has decided to raise €220.8m in a rights issue to partially repay a bridge loan.
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China’s state-owned Jiangxi Copper Company is lining up an A-share and H-share placement to raise a combined Rmb7bn ($1.07bn), according to a filing with the Hong Kong Stock Exchange.
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Saipem, the Italian oil and gas engineering group, failed to sell all of its €3.5bn rights issue to shareholders by last Friday, in an ominous sign for other commodities firms that may still need to raise fresh capital.
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Nyrstar, the Belgian zinc producer, has successfully completed the sale of all the new shares on offer in its rights issue, after selling the rump of the deal in an accelerated bookbuild on Wednesday.
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Delta Lloyd, the Dutch insurance company, bowed to investor pressure and cut the size of its planned rights issue by a third on Wednesday, to €650m.
