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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 Monday, July 20, following non-deal roadshows that brought some positive feedback from the investor community. -
The past few weeks in China’s boom-then-bust stock market have been a time to forget, but the volatility has not sapped bankers’ appetite for deals, with many still on the prowl as the market takes a breather going into the annual summer lull.
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Citigroup sold a 4.17% stake in Abengoa’s class ‘B’ shares in an accelerated bookbuild on Thursday night, for €97.6m.
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Cement maker and importer TCC International Holdings has wrapped up its HK$3.63bn ($468.23m) rights issue in style, with the deal oversubscribed by nearly 16%.
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CVC Capital Partners took another swift step towards its exit of Evonik Industries on Monday night, pouncing after the German chemical company’s shares had hit an all time high to sell a block of shares for €519m, in a deal that was increased.
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Block trades made a tentative return to the European equity capital market this week, though bankers had said on Monday that they did not think deals were likely.
