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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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Dufry, the Swiss duty free shop chain, will on June 11 start building the book for the Sfr2.2bn ($2.4bn) rights issue it signalled in March, as part of the financing for its €3.6bn takeover of World Duty Free.
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Europe’s sunshine state may be about to default for the second time, but equity capital markets are fizzing with activity, and indices only a fraction off their post-crisis highs. -
TCC International Holdings, a manufacturer and importer of cement, will raise HK$3.63bn ($468.23m) in a rights issue fully underwritten by its major shareholder, BNP Paribas and JP Morgan.
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The UK government’s plans to bring its divestment of Lloyds Bank to a conclusion are taking shape, after the Conservative Party won a majority in the May 7 general election — and there may be news soon on privatising Royal Bank of Scotland.
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Singapore’s Ezra Holdings is seeking to raise $300m from a combined rights issue and sale of convertible bonds to shore up its capital base. Both offerings are worth about $150m each.
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Sadbhav Infrastructure Project has re-filed its prospectus with the Indian market regulator for an IPO, which will now raise a smaller Rp4.25bn ($66m) and has also re-jigged the bookrunning group.
