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Proceeds enable fund to buy 14-property portfolio as units fully placed in best efforts process
Number of listings for the year doubles over eight weeks in summer as companies seek to access capital after Iran war disruption
Bank set to issue 106.4m shares at $4.48 per share
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A shareholder in Johnson Electric Holdings sold down its stake for HK$800m ($103m) on Thursday, in a deal buoyed by a surge in demand from long-only funds that surprised even the lead. -
A senior French regulator floated the idea of having a single European financial supervisor this Wednesday, which he said would help ease concerns over “regulatory arbitrage”.
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European authorities tested the bank recovery and resolution directive (BRRD) for the first time this week, placing Spain’s Banco Popular into resolution and approving its sale to Santander. The regulatory process, in which subordinated debt was wiped out, has far ranging implications for all market participants working on financial debt, write Tyler Davies, Jasper Cox and Aidan Gregory.
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Credit Suisse has finished its second rights issue in two years, having won a high take-up from its shareholders.
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Many equity market participants thought the wave of big European bank recapitalisations was beginning to wind down, until Santander surprised the market on Wednesday by announcing a €7bn rights issue to recapitalise Banco Popular, its failed domestic rival, after agreeing with European regulators to buy the bank for €1.
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Global investors scrambled for paper in India’s largest qualified institutional placement (QIP) this week as State Bank of India raised Rp150bn ($2.3bn) amid strong appetite for the country’s stocks. Its success heralds a bumper year for FIG equity raisings, with more big trades already shaping up, writes John Loh.
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