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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 Culiangwang Beverages is planning to net up to HK$1.059bn ($137m) by way of a two-for-one rights offering, announcing the equity raising just days after selling one of its units to drinks giant Coca-Cola. -
South Korean construction company IS Dongseo is planning to tap equity investors for $250m via the issuance of global depositary receipts, in what will be one of the first chunky equity deals out of the country this year.
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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.
