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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 son of former Malaysian prime minister Mahathir Mohamad sold MR818m ($248m) worth of shares in SapuraKencana Petroleum on February 18 via a private placement. -
Solocal’s refinancing deal announced last week may be complicated, pressured and messy, but for many issuers across the capital markets whose business models — and not just their balance sheets — are under increasing pressure, it may be a sign of things to come.
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PSA Peugeot Citroën announced a €3bn restructuring on Wednesday that will bring an end to speculation about the loss-making car maker’s future but that will not be closed for months.
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Excitement over the potential IPO of the Italian national postal service, Poste Italiane, escalated on Monday, as market rumours suggested that Rothschild had been named as the financial advisor on the privatisation.
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UK REIT Redefine International has sold 115.08m new shares, or around 9.9% of the company’s issued capital, through an accelerated bookbuilding process on Thursday.
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Flybe has launched a share sale that it hopes will pull in up to £150m to invest in its own fleet of planes. The UK airline is shifting its approach so that it owns its planes, rather than leases them. It hopes the sale of up to 141.5m new ordinary shares will help to finance this restructuring.
