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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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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. -
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.
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Nyrstar, the Belgian zinc smelter and miner, is seeking to raise €250m to €275m with a rights issue to help it weather a severe fall in commodity prices.
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ARA Asset Management is looking to raise around S$152m ($107m) from an 18-for-100 rights issue, as the firm looks for more flexibility to meet its funding needs.
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Alpha Bank has launched on November 11 a share sale to raise €1.66bn, as part of its €2.74bn capital strengthening plan, to address capital weakness discovered in recent EU stress tests.
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Standard Chartered moved to shore up its capital ratios on Tuesday, as it launched a long-expected rights issue, totalling £3.3bn ($5.1bn). Bank of America Merrill Lynch and JP Morgan have fully underwritten the deal.
