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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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The CSRC has just announced rules that will allow top tier Chinese companies to issue preference shares. While more clarification is needed, those banks most in need of capital should get ready to launch, as Basel III related supply is likely to far outweigh demand, write Clare Hammond and Rev Hui. -
The China-US equities pipeline is starting to heat up, after online sports lottery operator 500.com filed on Wednesday for a follow-on and a convertible bond that together could be worth as much as $480m.
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Shanghai Fosun Pharmaceutical Group has priced a HK$1.76bn ($227m) private placement to raise funds for debt repayment and to finance potential M&A.
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The China-US equities pipeline is really starting to heat up after online sports lottery operator 500.com filed on Wednesday for a follow-on trade and a convertible bond that together could be worth as much as $480m.
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Copperbelt Energy Corp, the Zambian electricity company, has raised ZK387.5m ($62.3m) in the secondary largest equity raise ever completed in the African country.
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Alpha Bank has raised €1.2bn through a private placement to shore up its balance sheet with equity capital.
