Top Section/Ad
Top Section/Ad
Most recent
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
More articles/Ad
More articles/Ad
More articles
-
Credit Suisse completed its Sfr4.7bn ($4.72bn) rights issue on Thursday with a 99% take-up. Together with another four large rights issues now in the market, the financing tool is set to give ECM a much-needed end-of-year volume boost. -
Malaysia’s Hong Leong Financial Group has sealed its MR1.1bn ($261m) rights issue as shareholders piled into the trade, leading to an oversubscription.
-
Shares in Delta Lloyd, the Dutch insurance company, fell 10% on Monday after it announced a €1bn rights issue to strengthen its solvency as it plans for new EU insurance regulation. By Thursday, they were 29% down.
-
Around this time last year, I reviewed the dismal performance of the Hong Kong primary markets, and ventured a guess that investors could instead turn en masse to ECM transactions in Malaysia, Singapore, Thailand, Indonesia - and even the Philippines. How wrong I was!
-
Abengoa’s rights issue has collapsed, and the company is at risk of doing so too. Barring a miracle, the debt-laded Spanish renewable energy company is expected to file on Friday for a preconcurso — a three month period of protection from creditors.
-
It may be late November, but equity capital markets are still busy with a stack of high profile deals, even now that last week's four Greek bank recapitalisations are out of the way. Abengoa's rights issue now looks unlikely to go ahead, as the company's woes have deepened.
