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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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UK engineering support firm Babcock this week completed a £1.1bn rights issue that will finance its takeover of helicopter firm Avincis, with investors taking up to 96.62% of the new shares in the deal. -
The National Bank of Greece has begun bookbuilding for its €2.5bn equity issue as investors scramble for exposure to southern Europe's capital markets comeback.
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Raiffeisen is set to ask investors for permission to issue new shares in June, which could make way for another capital raise soon after its last.
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Pharmaceutical firm Skyepharma launched a buy-back of its 6.5% 2024 bonds this week after completing a £112m capital raise.
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Austrian engineering firm Porr has completed the placement of 2.645m new shares, raising €119m to strengthen its equity base.
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French car manufacturer PSA Peugeot Citroën launched the public part of its €3bn capital raise on Monday, beginning the final phase of a long-awaited restructuring.
