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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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Merlin Properties, the largest Spanish real estate investment trust, has announced a fully underwritten rights issue, to raise €613.8m, a 50% capital increase. It is also considering bond issuance in future.
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The Securities and Exchange Commission of Pakistan (SECP) has unveiled new rules that home in on underwriters, balloters and transfer agents, tightening its oversight of the country’s equity capital market.
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Malaysia’s RHB Capital has mooted an MR2.5bn ($687.81m) fundraising to help it meet Basel III and funding requirements. The bank is also proposing an extensive internal restructuring that will see it transfer its listing status to RHB Bank.
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Indonesia’s PP Properti has started testing investor appetite for its IPO of up to $100m, with management roadshows slated for next week.
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The management team of Indonesian property developer Hanson International is planning to meet investors in Singapore next week to gauge their appetite ahead of a follow-on offering to raise $200m-$250m.
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International and domestic investors flocked to the Indian government’s Rp15.6bn ($250m) sale of a 5% stake in Rural Electrification Corp on April 8, with the success auguring well for this fiscal’s year divestment programme.