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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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China Fishery Group has netted proceeds worth S$283.2m ($207.7m) from its four-for-five rights issue, with support from existing shareholders making books comfortably oversubscribed. -
Landing International Development has set its sights on raising HK$6.54bn ($844m) by way of a ten-for-one rights issue, as the Hong Kong-listed company looks to step-up the development of some of its property projects.
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Rupert Hume-Kendall, one of the dominant equity capital markets bankers in Europe during the years 2000 to 2008, is to retire from Bank of America Merrill Lynch at the end of September.
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UK Financial Investments, the body that holds the government’s stakes in Lloyds Bank and Royal Bank of Scotland, is recruiting a capital markets manager.
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Capital Environment Holdings is looking to double its issued share capital by way of a one-for-one rights issue, which will net the company as much as HK$2.25bn ($290m) in proceeds.
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The equity capital markets this week have been dominated by IPO processes around Europe, the wrapping up of two significant rights issues, and a growing pipeline for issuance after the UK’s general election.
