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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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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. -
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.
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The Securities and Exchange Board of India (Sebi) is considering tweaking rules imposed on secondary sales of stock via the offer for sale (OFS) mechanism — a way by which owners of listed companies can reduce their holdings.
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Two sets of long public holidays made it a stop-start first quarter for activity in Asia ex-Japan's equity capital markets. But with the festivities out of the way, bankers are now seeing their pipelines fill up again. The spotlight will be firmly on China and India for the next few months, writes John Loh.
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Mandarin Oriental International and Metropolitan Bank have wrapped up their rights issues as they shore up their balance sheets.
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The Indian government is set to raise around Rp15.6bn ($250m) by divesting a 5% stake in Rural Electrification Corp, with books for the offer for sale (OFS) opening on April 8 and ending up oversubscribed pretty quickly.
