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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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Pacific Andes Resources Development has wrapped up its S$195.5m ($150m) four-for-five rights offering, with the take-up from shareholders only translating to 93.68% of the total rights shares available.
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Philippines’ Metropolitan Bank is set to raise up to Ps32bn ($719.38m) in a rights offering to beef up its capital ratios.
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Thailand is shaping up to be one of southeast Asia’s busiest destinations for IPOs this year, with the pipeline of deals of above $100m building faster than in any of the country's peers in the region. A lot of the kudos for this goes to Thailand's Securities and Exchange Commission (SEC), which is actively working towards boosting the equity capital market by expediting the listing process for issuers, writes John Loh.
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Singapore-listed, Myanmar-based Yoma Strategic Holdings expects to net S$163.86m ($123.58m) from a rights offering, its first follow-on since June last year.
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The Scandinavian equity capital market awoke from its Christmas slumber today, as three new planned deals were announced in quick succession.
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Malaysian property firm Mah Sing has fixed the price of its MR628.89m ($176.93m) rights issue at MR1.42 a share.