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  • Equity capital markets investors are likely to face a stream of companies asking them for fresh capital to get them through the second wave of the Covid-19 pandemic, as cases spike again in continental Europe and the UK, writes Sam Kerr. Some will be asking for the second time — or very late.
  • Kingsoft Cloud Holdings, backed by smartphone maker Xiaomi Corp, has raised $509.1m from a follow-on offering of American Depositary Shares, according to a source familiar with the matter.
  • China Yangtze Power, a Chinese utility company, has launched its listing on the London Stock Exchange, becoming the third company to list in London through the London-Shanghai Stock Connect scheme. The deal is expected to be worth up to $3.4bn.
  • Equity capital markets bankers were taking stock of a big move down in equity markets on Monday as Covid-19 infection rates rose in Europe and the UK government signalled the imposition of social restrictions to combat the disease. That has focused minds on deal execution, particularly the rights issue of IAG, which was set to close this week.
  • Kingsoft Cloud Holdings has hit the market with a follow-on offering of new and existing American Depository Shares (ADS).
  • Rolls-Royce, the UK maker of aircraft engines, has confirmed it is considering holding a £2.5bn ($3.19bn) equity raise, but buy-side sources were struggling to make the investment case for the company given the uncertainty over its future. Its stock fell 10% on Monday on the announcement and fears that the UK will return to a lockdown to stop the dramatic rise in Covid-19 cases.