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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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HM Sampoerna, the Indonesian unit of cigarette giant Philip Morris International, has launched an up to Rph20.8tr ($1.4bn) follow-on offering, with plenty of long-only funds on board as anchor investors. -
Hong Kong-listed LVGEM (China) Real Estate Investment is planning to raise HK$3.5bn ($451m) from a placement of new shares in order to fund part of a HK$13.79bn asset injection from Green View Holding.
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Equity capital markets bankers are still convinced the conditions are ripe for a wave of IPOs and block trades, even though European stockmarkets fell 2.5% this morning, after the US Federal Reserve decided last night not to raise interest rates.
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Persian Gulf equity markets have so far failed to win a boost from last year’s inclusion of the United Arab Emirates and Qatar into the world’s main emerging market index, as well as the more recent opening up of the Saudi Exchange to foreign investors, market participants have said.
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When Glencore announced plans to raise $2.5bn of equity, all options were open, but one always looked the most likely: an overnight accelerated bookbuild.
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The Taiwanese equities market is set for a huge increase in volumes following Delta Electronics’ announcement that it has obtained board approval to issue a maximum of 170.67m new shares.
