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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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Indian conglomerate Larsen & Toubro (L&T) is seeking shareholder approval to raise Rs36bn ($600m), according to an exchange filing dated June 10. -
Thai communications giant True Corporation will be raising Bt36.4bn ($1.1bn) from a rights issue following the sale of an 18% stake to China Mobile.
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Malaysia’s ECM market is set for a huge boost after Public Bank announced it is going to raise MR4.83bn ($1.5bn) from a one for 10 rights issue.
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India’s IDBI Bank received shareholder approval on June 7 to raise up to Rs40bn ($679m) via a qualified institutional placement.
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Italy's third largest bank Monte dei Paschi di Siena launched its long awaited capital raise on Friday, offering a deep discount to the theoretical ex-rights price (Terp).
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Solar panel manufacturer Trina Solar successfully raised a combined $247m by pricing a concurrent placement and convertible bond offering on June 6 despite a turbulent market backdrop as Chinese solar companies were slapped with new import taxes by the US.
