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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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Malaysia’s Hong Leong Bank has announced plans for an MR3bn ($752m) rights issue in the fourth quarter of 2015 as the lender seeks to beef up its capital buffers. -
Recticel, the Belgian manufacturer of polyurethane foam products, increased its share capital on Tuesday following the exercise of warrants.
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Oceana Group, a South African fishing company incorporated nearly a century ago and listed in Johannesburg, intends to raise R1.2bn ($94m) through a rights issue.
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The Indian government has ridden to the rescue of its ailing state-owned banks, promising to plough more capital into them to help shore up their tier one ratios. But a capital boost is no answer to the myriad problems facing the country’s public sector lenders. India needs to take a more radical approach.
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Indian toll road operator IL&FS Transportation Networks is seeking shareholder approval for an up to Rp10bn ($157m) fundraising to support its future growth plans.
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Tele Columbus, the German cable company, is planning a €240m capital increase with pre-emptive rights to finance acquisitions.
