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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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Pacific Gas and Electric Co, the Californian utility firm, is using a catastrophe bond to adapt to what it calls the "new normal" of increased wildfire risk. After its equipment was blamed for many of the state’s fires over the past year, PG&E is at the heart of a debate over who should shoulder the costs of rising natural catastrophe damage. -
Bank of America Merrill Lynch has made sweeping changes to its European equity capital markets franchise and has hired Credit Suisse’s Jerome Renard for a new position of head of EU ECM.
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Ever Sunshine Lifestyle Services Group is planning a Hong Kong IPO, according to a draft prospectus it filed in the city on Thursday.
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The Vietnam government is set to reduce its stake in Vietnam National Shipping Lines (Vinalines) through an IPO of at least D4.9tr ($208.9m).
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Dodla Dairy submitted a listing application to the Indian regulator on Thursday, eyeing the sale of both new and existing shares.
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UniCredit’s senior management team had to fend off a barrage of questions about the bank’s exposure to Turkish bank Yapi Kredi this week, as yields spiked on Turkish local currency debt and the lira slid further against the dollar. UniCredit’s equity stake is accounted at €2.5bn, but worth less than €1.2bn in today’s market.
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