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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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The Indian equity capital market has record its first large trade following the summer slowdown, with Indiabulls Housing Finance executing a qualified institutional placement (QIP) on Wednesday. While the share sale is only scheduled to officially close at the end of the week, the outcome is already a foregone conclusion with pricing fixed, books anchored and a $100m increase option taken up by the company to raise $600m. -
Indiabulls Housing Finance is out with the first large follow-on offering of the post-summer season, with the mortgage lender launching a Rp33.30bn ($500m) deal on Wednesday.
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RHB Capital has fixed the pricing for its rights offer to raise MR2.5bn ($581.5m), as the bank embarks on an internal restructuring and shores up capital to help meet Basel III requirements.
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Shares in Abengoa, the troubled Spanish renewable energy company, plunged again on Thursday and its credit default swap spread widened sharply, on unconfirmed reports in the Spanish press that banks including Bank of America Merrill Lynch, Citigroup and Société Générale had declined to underwrite its rights issue.
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Foreign investors breathed a sigh of relief this week after India announced it will not be subjecting them to minimum alternate tax (MAT).
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Cigarette maker Philip Morris flagged off pre-deal investor education for an up to Rph26.70tr ($1.92bn) follow-on transaction in its Indonesian subsidiary HM Sampoerna on September 2, with the process set to run for two weeks.
