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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 Bumi Armada set the price for its upcoming rights issue on Wednesday, though a date for the transaction is still up in the air. In response, the company’s largest shareholder launched a block deal in order to fund its take up of the right issue. -
The ice bucket challenge has been all the rage on social media recently, but Indian GDR issuers have been taking a cold shower for quite a while longer, writes Philippe Espinasse.
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Dutch engineering firm Royal Imtech said on Tuesday that it would cut jobs and launch a €600m rights issue, just over a year after it ran a similarly sized capital increase to rescue the company.
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Belgian PVC window maker Deceuninck is to raise €50m through a capital increase that will fund its purchase of a Turkish peer.
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India looks set to add as much as Rp180bn ($2.97bn) to its coffers after mandating five banks to arrange a 5% stake sale in the country’s second largest listed entity – Oil and Natural Gas Corporation (ONGC).
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London Stock Exchange launched a £938m rights issue on 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.
