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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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Haitong International Securities Group is gunning for a capital raising of up to HK$9.10bn ($1.17bn) via a one-for-one rights issue, with 65% shareholder, Haitong International Holdings Limited (HTIH), committing to take up its entire rights entitlement to provide early momentum for the trade. -
Malaysia’s Sumatec Resources is planning to raise as much as MR1.1bn ($298m) from a rights offering to fund its acquisition of Borneo Energy that was first announced last July, after having made changes to the offering’s structure following a reduction in the purchase price of the acquired entity.
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SB Asia Investment is offloading some of its shares in New York-listed online marketplace provider 58.com, in a deal that could raise it up to $110.5m.
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Irish bank Permanent TSB intends to raise €525m of capital from investors in the first stage of its return to private ownership, and its first equity deal since failing last year’s European stress tests.
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Banco Sabadell may issue up to €2.4bn of new capital if it bids for TSB, the UK bank. But the amount may be as little as €1bn, as TSB has spare capital.
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Filipino lender Metropolitan Bank will raise Ps32bn ($727.98m) in its largest follow-on with a rights issue to be launched later this month.
