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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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Borse Dubai closed the books last night on the sale of a 3.1% stake in the London Stock Exchange Group for £171.7m, as it readies funds to fully subscribe to the UK exchange’s planned rights issue. -
Yuexiu Property Company is looking to raise HK$3.85bn ($497m) through a 33-for-100 rights issue, as it chooses equity fundraising over taking on additional debt.
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Philippine property developer Belle Corp started holding meetings with investors this week to divest some of its shares in Sinophil Corp, which has been renamed Premium Leisure Corp.
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South African retailer Woolworths has set terms on its R10bn ($937m) capital raise, that will be used to fund a recent acquisition.
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Nyrstar, the Belgian mining and metals business, wants to raise €600m through a €250m rights offering and €350m bond issue, as it seeks to buy back existing bonds, reduce its net leverage and fund an upgrade of its smelters.
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The Indian government has started holding investor roadshows which will seek investors’ interest for the sale of shares in Steel Authority of India Ltd (Sail) even though the meetings are being described as non-deal by bankers.
