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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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Fomento de Construcciones y Contratas, the Spanish construction company, is still waiting for the Spanish financial regulator to approve its securities note for its rights issue, approved by the board on December 17. -
China tested the limits of reform in its stock market this week with disastrous consequences. Equity markets fell globally after China heaved yet more volatility on investors, and mainland stocks saw their worst ever start to the year. The turmoil caught equity capital market bankers off guard, but panic has not set in yet, writes John Loh.
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Serendex Pharmaceuticals, the Danish healthcare company, has completed its Nkr111.8m ($12.5m) rights issue, having achieved full subscription.
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A trio of Chinese companies are seeking to list in Hong Kong, having filed draft prospectuses with the city’s stock exchange on Tuesday.
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DenizBank, the Turkish bank, is to conduct a second capital increase, only a few months after finishing its last one — but main shareholder Sberbank is expected to maintain its near-100% stake.
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South Korea's Samsung Engineering has set the initial price for a W1.2tr ($1.0bn) rights issue, which is expected to launch by March.
