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Both tranches price at the investor-friendly end as cloud company raises to fund expansion
Never mind that your desk had a great year, writes Craig. When it comes to getting paid, the future makes a stronger argument than the past
Top 25 shareholders and new investors participate in previously delayed offering, but some shares left over after subscriptions closed
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Renhe Commercial Holdings is planning a HK$2.2bn ($274.3m) rights offering that will be underwritten by its controlling shareholder. -
After the UK Treasury sold £2.5bn of RBS stock this week, observers quickly pointed out that the sale represented a huge loss for taxpayers. Yet the gradual return of the bank to full private ownership is a win for the UK financial sector and for the economy as a whole.
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The sell-off in Italy’s equity and debt markets in the lead-up to the creation of a new Italian government shows that investors are nervy about the euroscepticism of its new law makers, but Europe also has a part to play in ensuring that markets don't end up in straits such as the sovereign debt crisis of 2009-12.
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DS Smith, the UK packaging company, has offered to buy Spanish rival Europac, with £1.65bn of financing underwritten by US banks already prepared for the transaction.
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Royal Bank of Scotland shares are trading flat to the sale price of a £2.5bn block sold by the government last night, a good result for the banks involved after a trade that risks being politically tricky.
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The IPO of Adyen, the Dutch payments company, which is one of the most anticipated listings in Europe this year, has got off to a good start, with the book covered throughout the range just over an hour after being opened.
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