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Equity IPOs

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  • EN+ Group, the Russian power and metals company controlled by Oleg Deripaska, rose more than 2% in Moscow trading on Monday morning after posting its first results since its $1.5bn IPO in early November.
  • The £287m IPO of Sabre Insurance, the specialist UK car insurer, is due to be priced at 230p, the middle of the initial 220p to 240p range, valuing the business at £575m.
  • China’s Hebei Construction Group has kicked off a one week roadshow to solicit investor interest for its HK$2.32bn ($297.2m) IPO, as a group of other Chinese firms also target Hong Kong listings.
  • China Education Group Holdings has opened books for its up to HK$3.5bn ($450m) IPO in Hong Kong, with high-profile investors such as GIC and International Finance Corp taking up cornerstone positions.
  • There was little excitement among investors for Shandong International Trust’s Hong Kong IPO, with the HK$2.95bn ($377.5m) deal priced near the bottom of guidance, according to a banker close to the listing.
  • Vietnamese state-owned firm PetroVietnam Oil Corp (PV Oil) is planning to sell 20% of its shares in an IPO in January 2018, according to a Friday statement.