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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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Hong Kong-listed Guotai Junan International Holdings may have only announced its HK$2.04bn ($263m) one for five rights issue on August 19 but the transaction is already gaining plenty of traction thanks to parent Guotai Junan Holdings (GJHL), which will be subscribing to 66.8% of the deal. -
Singapore’s second largest bank, OCBC, is seeking to raise S$3.37bn ($2.7bn) from a one for eight rights issue to strengthen its balance sheet following its $5bn acquisition of Hong Kong’s Wing Hang Bank in July.
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National Agricultural Holdings is set to raise HK$1.64bn ($212m) through a placement of shares, which if priced at the top of the guidance provided will be a hefty premium to the company’s previous close.
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Kenya's Diamond Trust Bank received applications for 440% of the shares on offer in its KS3.6bn ($40m) rights issue, which was completed on Thursday morning.
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UK biotech firm Retroscreen Virology on Wednesday raised £33.6m through a sale of shares to new and existing investors that will allow the firm to fund its upcoming projects.
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Polish oil refiner Lotos is set to raise Z1bn ($318m) through a rights issue next month, in what will be a rare example of Polish ECM business after a quiet year so far for eastern Europe.
