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Shareholders sell down holdings in AutoStore and Orsted, as shipping company opens books ahead of Athens parallel listing
Proceeds expected to go towards growth, including expanding what the company says is Africa’s biggest refinery
Anna Repetto joins from Barclays
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Wendel, the French investment company, made a bold move on Tuesday night to reduce its stake in Saint-Gobain, the glass and building materials group that is one of its main holdings.
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Barclays has this evening executed a R13bn ($900m) accelerated bookbuild in shares of Barclays Africa Group, its separately listed South African subsidiary, as the first stage in its already announced plan to divest the bank. The trade was covered in 35 minutes and multiple times oversubscribed.
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It’s been a sour few days for European equities — the Euro Stoxx 50 has lost 5.4% in three and a half days of continuous falls. With a big cohort of IPOs having been priced last week, the new issue market now enters a new phase, and will be looking for signals as to how receptive investors are.
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Parag Milk Foods has thrown open books for its Rp7.7bn ($115.7m) IPO in India, after placing a huge chunk of the trade in the hands of 17 anchor investors.
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Norton Rose Fulbright has named Hong Kong-based US securities and corporate lawyer Harold Tin a partner with the firm.
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The failure of the IPO of Banca Popolare di Vicenza leaves full responsibility for the bank’s future with the hastily put together Fondo Atlante — and is a poor omen for the listing of Veneto Banca, due to roll forward after a shareholder meeting this week.
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