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Top 25 shareholders and new investors participate in previously delayed offering, but some shares left over after subscriptions closed
Undisclosed institutional shareholder sells stake in Wednesday evening ABB
Qualifying shareholders take up 68% as remainder stays with conditional placees
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SGL Carbon, a carbon product manufacturer, has issued a €159.3m unsubordinated, unsecured convertible bond to refinance existing debt and increase flexibility for further company growth. -
Deutsche Bank has disclosed a 22% stake in Instone Real Estate, the German residential property developer, after a highly unusual block trade in the stock earlier in the week that failed to clear.
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The IPO global coordinators for Adyen, the Dutch payments processing company, were at the centre of a controversy this week after lifting the lockup agreement on the sale of new stock three months early to allow pre-IPO investors to move €1.65bn of stock. A 9% discount to the last close helped ensure a heavily oversubscribed deal, but the aftermarket was chaotic with the stock slipping as much as 19.2% at one stage on Thursday. Aidan Gregory reports.
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A week of turmoil in emerging market stocks could not dampen investor enthusiasm for China’s biggest post-summer IPOs, as issuers used a mix of tight cornerstone allocations and compelling equity stories to get across the finish line. John Loh reports.
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X Financial opened books on Thursday for a $121m listing on the New York Stock Exchange, as bankers believe the worst is over for China’s beleaguered peer-to-peer lending sector.
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Shandong Gold Mining launched a HK$6bn ($767m) Hong Kong IPO on Thursday, seeking funds to pay for the acquisition of an Argentinian mine — its first overseas asset.
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