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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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China Oceanwide Holdings has mooted a one-for-two rights issue to raise HK$4.57bn ($584.27m), as the group seeks to grow its asset base outside of the Mainland via acquisitions. -
Trading in Saipem, the Italian oil and gas engineering company, had to be suspended on Monday, the first day of the firm’s €3.5bn rights issue, due to heightened volatility in the stock.
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The Securities and Exchange Commission of Pakistan (SECP) has made a series of changes to rules governing companies raising capital in its stock market.
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Despite the terrible start for China’s equity market this year, primary issuance has kicked off with a bang. Year-to-date A-share equity capital market volumes are at a record high, with follow-on offerings leading the way.
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Shares in Saipem, the Italian oil and gas engineering company, fell to a new 14 year low today, after it released the pricing details of its €3.5bn rights issue at midnight on Thursday.
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Maybank has hired Naguib Hussin from CLSA for its equity capital markets desk in Malaysia. He replaces Norly Khalim, who has transferred to another department within the Malaysian lender.
