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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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Malaysia’s Sumatec Resources is planning to raise MR919m ($291m) from a one for two rights issue to fund its acquisition of Borneo Energy Oil and Gas, the company announced on August 28. -
London Stock Exchange Group launched a £938m rights issue last Friday that will fund its previously announced acquisition of index services firm Frank Russell Company. The deal came alongside the LSE's results, which showed surging profits on the back of record IPO volumes.
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Shareholders in Bank of Cyprus, the country's biggest bank, approved a €1bn capital raise on Thursday.
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Spanish telecoms giant Telefónica sweetened its offer for Brazilian carrier GVT on Thursday, a deal that it said it would finance with a capital increase in Brazil as well as Europe.
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Chinese real estate developer Country Garden Holdings is looking to raise HK$3.18bn ($410m) from a one for 15 rights issue that is slated to hit the market in late September.
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One of the Philippines’ largest dining operators, Pancake House, has received the approval from its board of directors to undergo a follow-on of around 300m shares as the final pieces of its merger with Max’s Group of Companies is finally coming together.
