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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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Mediclinic, the South African healthcare group, achieved strong pick up on its R10bn ($770m) rights issue to fund its takeover of Cinven’s remaining stake in London-listed Spire Healthcare. -
The board of directors of SRV Group, the Finnish construction company, has decided on the terms of the firm’s €50m rights offering.
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Hong Kong-listed Chong Hing Bank is bringing a rights issue to investors as it seeks to bolster its capital position. The lender plans to issue one rights share for every two existing shares, which will raise HK$3.71bn ($478.64m).
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GMR Infrastructure is planning to hit the equity capital market for Rp25bn ($393m) in funding, once shareholders give it the green light. The move comes after the firm raised Rp14bn in a rights issue earlier this year.
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HM Sampoerna, the Indonesian arm of cigarette giant Philip Morris International, will go to shareholders to raise up to Rph26.70tr ($1.98bn) via a rights issue as it seeks to increase its free float.
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The Indian government moved a step closer to reducing its stake in Indian Oil Corp, after mandating five banks to lead a 10% share sale that could be worth as much as Rp94.27bn ($1.5bn).
