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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 UK has been at the forefront of Europe’s equity capital raising wave, as companies respond to the Covid-19 pandemic. De La Rue, which makes passports and banknotes, became the latest UK firm to do so with a £100m raise on Monday — and sources believe there is plenty more to come. -
Chinese property manager Times Neighborhood Holdings raised HK$786.9m ($101.5m) on Monday from an accelerated share placement.
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After a hectic second quarter, equity capital markets bankers and investor are now hoping for a traditional summer slowdown to allow market participants to take a break.
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ADO Properties, the commercial and residential property developer in Germany, launched a €450m capital raising on Thursday, to pay off the debts of its peer, Consus, in which it will take a controlling stake.
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WuXi Biologics (Cayman) bagged HK$6.17bn ($795m) on Monday after boosting the size of a new equity issuance.
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Mapletree Industrial Trust raised S$410m ($295.4m) on Tuesday after strong demand enabled the Reit to boost the size of a placement.
