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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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Investors could not get enough of India’s Syngene International as a more than 32x covered book helped propel the biotech firm to price its Rp5.5bn ($86m) IPO at the top of its indicative price range.
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Chery HuiYin Motor Finance Service Co is seeking to list in Hong Kong via sole sponsor CICC. The automotive financing company filed a preliminary prospectus with the stock exchange on July 31.
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Chinese equities sent jaws dropping again this week after Shanghai posted its sharpest one-day plunge in eight years. While the market quickly picked itself up, equity capital market bankers believe this seesaw action is a huge incentive for mainland investors seeking a haven in Hong Kong, writes John Loh.
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Solvay, the Belgian chemicals company, is buying Cytec in a deal that values the US-based firm at $6.4bn and will be funded in part by a rights issue.
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Power Finance Corp (PFC) has completed bookbuilding for the divestment of a 5% stake in the company by the Indian government, netting at least Rp16.76bn ($262.06m) with an offering that investors piled into.
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Just when it seemed like calm was returning to China’s whipsawing stock market, investors were thrown another curveball on Monday, as Shanghai suffered its worst one-day plunge in eight years. While ECM desks in Hong Kong were rattled by the rout, they are not pressing the panic button.