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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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Equity capital markets specialists watched wild trading in the shares and rights of Banca Monte dei Paschi this week, after the rights to subscribe for its capital increase began trading on Monday. -
Dalian Port (PDA) Company has received the green light from the State-owned Assets Supervision and Administration Commission (SASAC) in China to raise funds via a private placement of H-shares.
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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).
