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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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Retail Estates on Tuesday sold about 880,000 preferential subscription rights in an accelerated private placement to shed the part of a rights issue that its shareholders had not bought up.
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Central China Securities has rejigged the bookrunning group for its planned H-share private placement, with plans to hit the market at a time when brokerage stock is in high demand.
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A large block of shares in NN Group, the former insurance arm of ING, and a smaller but still significant block in SSP, the UK travel catering company, began the week’s equity issuance in Europe following what was, in some countries, a three day weekend. Both trades went well, despite Tuesday having been a soft day for markets.
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Hong Kong-listed Citic Securities Co has received the go-ahead from the Chinese regulator to sell 1.5bn shares via an H-share placement that could fetch proceeds of up to HK$50.93bn ($6.57bn).
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Italy’s Banca Monte dei Paschi di Siena will on Monday launch a long-awaited rights issue to close a capital shortfall identified by European banking regulators last October.
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Banca Monte dei Paschi di Siena is set to launch its long-awaited rights issue, for up to €3bn, later this month, after the European Central Bank gave approval for the deal on Wednesday.