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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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Market participants have reacted positively to the creation of a new privately-backed fund in Italy, which will support the recapitalisation of struggling banks and reduce the country’s huge stock of bad loans.
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PNB Housing Finance has made changes to the bank group leading its $400m Indian IPO, bringing in Bank of America Merrill Lynch to replace Barclays as a lead manager, according to a source close to the trade.
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Chinese brokerage Orient Securities Co has applied for the go ahead to list on the Hong Kong Stock Exchange in an IPO that could raise $1.5bn, according to sources with knowledge of the deal.
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Highfields Capital Management, the US asset manager and largest shareholder in Delta Lloyd that fought hard to block the Dutch insurance company’s rights issue, nevertheless subscribed to its rights in the offering.
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GE Money Bank, the Czech retail and SME bank, announced its intention to float on Monday, as its parent General Electric executes its plan to sell most of its financial services operations.
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Vallourec, the French tube maker that has been hit by falling capex in the oil and gas industries, began separate trading of its shares and rights on Monday, after the launch of its €480m eight-for-five rights issue last Friday.
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