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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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German biotechnology firm Paion will issue 18.5 new shares to finance its development across the US and Europe. -
Industrial Bank of Korea priced its $300m global depositary receipt offering on Friday, almost a week ahead of schedule, with reverse enquiries sufficient to cover the trade.
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Hong Kong’s equities market is poised to experience a sharp boost in volumes after Citic Pacific announced on Wednesday plans for a Rmb50bn ($8.1bn) reverse-IPO.
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Korean technology and pharmaceutical company Hanwha Chemical started meeting investors for a global depository receipt trade of up to $395m, hot on the heels of Industrial Bank of Korea.
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Taiwanese silicon wafer fabrication firm Inotera Memories has hired three banks to work on a global depository receipt transaction, which could be worth up to NT$12bn ($367m).
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South African mining company Royal Bokafeng Platinum completed a R800m ($76m) capital raise on Monday that will allow the company to develop a new mine.
