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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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Yuexiu Property Company’s 33-for-100 rights issue has received a stellar response from shareholders with the deal 5.2 times covered. -
Tiger Airways Holdings is set to raise S$234m ($184m) from an 85-for-100 rights issue, in which its largest shareholder Singapore Airlines (SIA) will increase its stake with the aim of making Tiger its subsidiary.
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Agile Property Holdings has revived plans for a rights issue just days after scrapping the fundraising. But it has returned with a deal size that is 40% smaller and its majority shareholder will now underwrite the trade.
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Hong Kong-listed China Taiping Insurance Holdings is seeking to raise HK$6.43bn ($828m) from a 21 for 100 rights issue to repay a $570m loan it took last December.
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Turkish Bank Asya has received approval for a capital raise worth twice the troubled Islamic lender's market capitalisation.
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Chinese real estate developer Country Garden Holdings got a red hot reception for its HK$3.18bn ($410m) rights issue on October 14 as the transaction ended up close to nine times covered.
