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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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Singaporean chipmaker Stats ChipPac has moved one step closer to restructuring its debt as it prepares for a takeover by Jiangsu Changjiang Electronics Technology (JCET). And a $500m syndicated loan arranged by Barclays, DBS and ING is on the cards as part of the acquisition. -
Nomad Foods, the renamed cash shell Nomad Holdings that has bought Iglo Birds Eye, raised around $321m of new equity on Wednesday in an accelerated bookbuild.
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Underwriters for China Culiangwang Beverages Holdings’ HK$794m.90m ($102.5m) rights issue have had to step in to find investors for the offering, after the deal ended up being under-subscribed by 6%.
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Something Big Technology Holdings is planning to list on the Hong Kong Stock Exchange, with the float being brought to the market by sole sponsor KGI Capital Asia.
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The spectacular rise in China’s A-share market has been the stuff of dreams, capturing the imagination of investors the world over. But after a violent correction, Asia’s equity capital markets are on a knife edge, and bankers hope the market will find some calm in the summer, before the year’s biggest trades hit screens in the fourth quarter, writes John Loh.
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Deutsche Annington, the German housing company, successfully completed a €2.25bn rights issue, it said on Wednesday.
