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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
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Shares in Solvay, the Belgian chemical company, closed at €103.65 on Thursday, up 3.1% since Monday night, after shareholders voted to approve the €1.5bn rights issue to finance its takeover of Cytec Industries, the US maker of advanced materials. -
Lonmin's $407m rescue rights issue passed its first hurdle on Thursday (November 19), when shareholders voted strongly to approve the deal. Lonmin's shares fell 2.6%, but that was mild by recent standards.
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The capital raisings of Greece’s four largest banks, totalling €6bn, continue to dominate the news in equity capital markets this week, though the IPO market is bringing its fair share of deals as well.
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Hong Kong property developer Lai Sun Development (LSD) is seeking HK$924.3m ($119m) by way of a rights issue, announcing a one-for-two offering on Tuesday.
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London Stock Exchange Group (LSEG) and India’s Yes Bank have signed a memorandum of understanding to work together on bond and equity issuance, with a special focus on green infrastructure finance.
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One of the main events of the end of the year in equity capital markets is under way, as Greece’s four main banks line up capital raisings to cover yet another shortfall, writes Olivier Holmey.
