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UK company acquires US firm OrthoLite for $770m
Offering price at 30.4% discount to Terp
Company predicts €1.6bn net loss in FY2024 due to write-downs
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The resilience of capital markets in the face of the coronavirus pandemic has encouraged equity issuers and sellers to bring an abundance of IPOs, rights issues and block trades this autumn. Indices have bounced since their March nadir but their vulnerability — and that of ECM activity — to the tech stocks that have driven the rebound was made stark this week when the Nasdaq index fell more than 10% in two days, write Sam Kerr and Aidan Gregory. -
IAG, the airline holding company that owns British Airways, has launched its €2.75bn rights issue to help fund it through the coronavirus pandemic. The company does not expect a return to normal operations until 2023, but is hoping its ability to be flexible in offering flights to areas that are recovering more quickly will be enough to persuade investors to take part in the cash call.
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Indian mobile network provider Vodafone Idea is planning to raise as much as Rp150bn ($2.05bn) from an equity placement that is part of a multi-billion-dollar fundraising.
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Singapore-listed Frasers Centrepoint Trust is looking to raise S$1.39bn ($1.02bn) by selling new units equal to over half its existing stock.
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Solar glass manufacturer Xinyi Solar Holdings raised HK$2.7bn ($343.5m) on Wednesday, after boosting the size of a primary share sale.
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Greencoat UK Wind’s £350m ($467m) debt funded acquisition of a stake in two wind farms from SSE has pushed the infrastructure fund close to its leverage cap, with the fund already planning a new round of equity raises to pay down the debt.
