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Follow-ons and Rights issues

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Shipbuilder's shares fall 10% after capital raise
Italian shipbuilder is expanding capacity on strong defence demand
Deal priced at 1% premium to Monday's close
London continues to benefit from metal price volatility
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  • Rocket Internet has raised a $420m unlisted fund that will invest in its portfolio companies — an innovative funding mechanism arranged by Goldman Sachs.
  • Boustead Holdings is seeking to raise MR1.05bn ($244.88m) in a two-for-five rights offering, as it looks to grow its property development and investment businesses.
  • India's Quick Heal Technologies wrapped up investor meetings for its $70m-$80m IPO last week and plans to open books in mid February, according to sources.
  • Nyrstar has obtained 99.79% of the votes cast in a second extraordinary general meeting to approve its rescue rights issue. The Belgian zinc and lead producer had failed to reach a 50% quorum at an EGM last month.
  • Several major Italian ECM deals are set to move forward in the next few weeks. Saipem, the oilfield services company, will open subscription for its €3.5bn rights issue on Monday January 25. And Veneto Banca is set to announce in the next couple of weeks more detail of its €1bn capital increase and flotation, to be completed in April.
  • Compagnie Générale de Géophysique, the French geological surveying company, has launched a three-for-one rights issue to raise €350m, as it struggles with its debt burden and oil companies cutting back on exploration.