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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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IndiGo, the Indian budget airline, has fine-tuned its corporate structure to create more headroom for foreign investors as it inches closer to a $400m-$500m IPO in the second half of the year or 2016. -
With more than 20 initial public offerings in the market in the pre-summer rush to get deals done, more and more equity capital markets bankers believe not all the transactions can succeed.
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Deutsche Annington, the German housing company, took another big step in its growth trajectory on Monday, when it announced a €2.25bn rights issue to buy its rival, Südewo Group.
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As the rights trading period for Banca Carige’s €850m capital raising nears its end, its shares have steadied, to €1.554 on Thursday, only 4% below last Friday's level.
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Banca Monte dei Paschi di Siena made a successful conclusion to its €3bn rights issue this week, when the last tiny scrap of shares was swiftly auctioned on Tuesday.
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Singaporean upstream oil and gas company KrisEnergy is seeking S$169.5m ($126.2) in a rights issue for capital expenditure to grow production in existing fields and near-term development projects.
