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Management simplified as former DCM banker joins as co-CEO
Karim Malek from Kepler joins as an executive director
Largest of three IPOs in Turkey struggles to get covered, smaller ones multiple times oversubscribed
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American International Group has raised HK$3.79bn ($482.3m) from the sale of its remaining stake in People’s Insurance Company Group of China (PICC), according to a term sheet seen by GlobalCapital Asia. -
Marks & Spencer will turn to its shareholders to fund a £750m joint venture with Ocado Group in a move that would see the company metamorphose into a leading online food retailer.
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Metro Bank has obtained a standby underwrite for a £350m ($464m) equity raise to be completed later this year, even as short sellers circle around the bank. The miscalculation in its risk-weighted assets (RWAs) announced last month, and an expected delay in getting permission for internal models to calculate those weightings, are both damaging for its capital ratios.
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PlayTech, the UK-based gambling technology company, announced its second high yield bond issue on Tuesday afternoon, seeking to raise €350m to redeem an out-of-the-money convertible bond issued in 2014. During the roadshow, it confirmed a new contract with UK gaming group GVC, which helped it print tight in a market that was already supportive.
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The US-led equity rally of the first two months of 2019 is likely to continue, says Eddie Perkin, chief investment officer of Eaton Vance. In an interview with GlobalCapital, he said this should prompt an increase in equity capital markets issuance, and stronger investor returns than many would have expected after a terrible end to last year.
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Futu Holdings, parent of Hong Kong-based Futu Securities International, has launched bookbuilding for its potential $130.8m Nasdaq IPO.
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