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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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Spanish construction company Sacyr Vallehermoso completed a two-pronged €416m capital raise on Wednesday night, with investor appetite for well-known Spanish names helping the deal through its unusual timing. -
The shares left unsubscribed after Banco Popolare’s €1.5bn capital raise will be offered in a rump sale on Wednesday, after the deal was 99.138% successfully placed.
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Sweden’s Rezidor Hotels has set the terms for its Skr544m ($82.6m) rights issue, giving the shareholders the opportunity to subscribe for one new share for every six existing shares held.
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Banco Monte dei Paschi di Siena is expected to move ahead with a larger than planned capital raise after the board supported a move to increase the deal to €5bn.
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Intu, the British shopping centre real estate investment trust, has completed its £500m rights issue after investors took up 99% of the shares during the offer period.
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The National Bank of Greece will be the latest Greek bank to raise equity when it approves a €2.5bn capital raising next month.
