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Follow-ons and Rights issues

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  • CapitaLand Retail China Trust (CRCT) took advantage of strong investor demand for its placement to fully exercise a greenshoe option and raise S$245.4m ($182.8m) on Tuesday.
  • Alstom, the French manufacturer of trains, trams and buses, has embarked upon its long-awaited rights issue with a fair wind behind it after the recent progress towards a Covid-19 vaccine.
  • CapitaLand Retail China Trust is tapping equity investors for S$300m ($223.16m) to fund a spate of property acquisitions.
  • Chinese housing-related platform operator Ke Holdings, which listed in August in New York, is back again to the equity market. It is looking to raise around $2.6bn from a follow-on offering.
  • Chinese e-commerce giant Pinduoduo has kicked off a multi-billion-dollar equity fundraising exercise, taking advantage of a sharp rally in its share price this year to aim for as much as $4.85bn.
  • Rolls-Royce, the UK aerospace company, completed its rights issue on Thursday, with the cash call proving to be a resounding success. The deal benefited from a late boost on Monday, when US drug company Pfizer said it had enjoyed successful late-stage trials for a Covid-19 vaccine, giving investors hope that Rolls-Royce engines would be powering more planes into the sky sooner than expected.