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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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Foreign investors breathed a sigh of relief this week after India announced it will not be subjecting them to minimum alternate tax (MAT). -
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.
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Hong Kong-listed HNA International Investment Holdings has announced plans for a HK$2.97bn ($383m) rights issue that will hit the market in October.
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CIMB Thai Bank is gearing up for a Bt3.69bn ($104m) seven-for-40 rights issue that is set to hit the market in October.
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There was a tense finish to the Indian government’s Rp93.96bn ($1.42bn) divestment of its stake in Indian Oil Corp (IOC), with books only covered just before the transaction was due to close thanks to late bids from state-owned insurers.
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Frankfurt-listed Snowbird, a Chinese down manufacturer, has cancelled plans to seek a secondary listing in Singapore, amid a wave of panic selling that has gripped stock markets this week.
