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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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Ion Investments, a wholly owned subsidiary of Temasek Holdings, is looking to sell W188bn ($176m) worth of shares in Seoul Semiconductor having launched an accelerated share placement on March 3. -
New York listed China Distance Education is planning to raise $103m via the placement of American Depositary Shares according to a February 28 preliminary prospectus.
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Zhejinag based property developer Zhong An Real Estate received approval from the Hong Kong Stock Exchange on February 28 to spin-off its commercial properties business, China New City Group.
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A flood of liquidity from Vodafone’s sale of its Verizon stake last year is set to be returned to investors next week, prompting some bankers to suggest that this could be the perfect time for the UK government to sell a chunk of its 32% stake in Lloyds Banking Group.
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UK insurer RSA, which took on Stephen Hester as its chief executive earlier in the month, announced a £775m rights issue on Thursday as part of a plan to fix its weak performance and capital position.
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UK engineering firm Costain Group hopes to raise around £75.1m through the sale of almost 33.8m new ordinary shares.
