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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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Thai Union Frozen Products Public Company opened books for a Bt12.72bn ($371m) preferential public offering on July 20, following non-deal roadshows that brought positive feedback from the investor community. -
Europe’s equity capital markets continue to experience a mixture of deal failures and successes, as investors remain open for business, despite the nearness of August's lull, but selective.
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South Korean weapons maker LIG Nex1, which filed for an IPO worth W400bn-W500bn ($360m-450m) in early June, has received the regulator’s approval to go ahead with its listing.
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Mediclinic, the South African healthcare group, will launch on August 11 a R10bn ($810m) rights issue to fund its takeover of Cinven’s remaining stake in London-listed Spire Healthcare.
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Existing shareholders have sprung into action to support Jardine Cycle & Carriage’s S$1.0bn ($729m) one-for-nine rights issue, with the deal ending up well oversubscribed.
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The chief executive and other top officers of Merlin Properties, the acquisitive Spanish real estate company, have been on the road this week, for the company’s second rights issue in three months, as it seeks €1.034bn to buy Testa, another property firm.
