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Reforms have increased liquidity in private shares and eased flotations, but PE sponsors warn there is still a lack of domestic capital willing to buy IPOs
Bankers welcome third and fourth deal in two weeks
Shareholders sell down holdings in AutoStore and Orsted, as shipping company opens books ahead of Athens parallel listing
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BPCE fully exited its stake in French real estate firm Nexity on Tuesday, as it sold €283m-worth of shares through a block trade led by Société Générale. -
Investment fund Aurelius attempted to sell its entire 51% stake in German beverage group Berentzen Gruppe on Tuesday, but eventually cut the offering by more than half when it realised it would not get the price it hoped for.
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Malaysia-listed WCT Holdings is looking to spin off its property into a real estate investment trust and list its construction arm, with both IPOs likely to come to the market next year.
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The Singapore Exchange (SGX) has been one of Asia’s most proactive bourses in finding ways to improve its business, but some market participants are worried that it is out of touch. Chew Sutat, SGX’s head of equities and fixed income, told GlobalCapital Asia that there is a gap between perception and reality. John Loh reports.
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IBM exited its entire position in Chinese tech firm Lenovo this week, raising HK$1.17bn ($150m) via a block sale. It was able to offload the stock at the top end of guidance after a flood of demand from Asian hedge funds.
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Sumitomo Mitsui Banking Corp sold half its stake in India’s Kotak Mahindra Capital this week, raising Rp20.69bn ($300m) in the year’s first block trade in the country. And in a rare case, the deal managed to bypass the problem of slippage typical with sell-downs in India. Jonathan Breen reports.
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